VHeadline commentarist, University of Los Andes political sciences professor, Dr. Franz J. T. Lee writes: Mirror, Mirror on Wall Street, what will the New Year bring?* "And ye shall know the truth, and the truth shall make you free."
Do all capitalist crashes, cracks, slumps, recession and depression end up in the fire, with drawing the sword of self-defense? Will world peace come to us soon?
"Do not suppose that I have come to bring peace to the earth. I did not come to bring peace, but a sword." (Matthew 10:34).
Yes, the current emergent global fascism will bring to an already scorched nature and scourged society more fire, more contradiction, more social dissension, more global class struggles. Capitalism as predicted scientifically by Marxist economists is experiencing its involution, its biggest global crisis which rapidly is becoming its most profound global slump since 1929. Like fascism itself, capitalist depression is not a historical accident, it is structural, it obeys the tendential developmental laws of world imperialism, inter alia, brought forth by wild speculation, murderous concentration, treacherous competition, inexorable merging and perpetual monopolization.
Globalization, as predicted by Marx and Engels in the 'Manifesto of the Communist Party', is the final earthly objective of corporate imperialism, but it is also its self-destruction. As major energy source, oil is fading away, and with it General Motors, Chrysler, Ford and Toyota. On the creative, creating, socialist horizon dawns the free energy and technology of Nikola Tesla and Wilhelm Reich, of the age of 'aquarius', of intergalactic multi-spacetime and of possible 'flying saucers', traveling on scalar wave lengths.
"There are more things in heaven and earth, Horatio,
Than are dreamt of in your philosophy. ..."
Let us recollect what the current state of world corporate affairs is really about?
Some countries, like Ukraine where industrial production is collapsing, are already feeling the pangs and fangs of severe global recession and depression. In the case of Ukraine half of its industrial production has been destroyed over the last two months. However, even that of Japan, the second largest economy in the world, suffered a loss of 8.1 percent since October 2008.
According to an article written by Joe Kishore even the bankrupt 'fairy queen', the International Monetary Fund, warns of a coming 'Great Depression':
"The top economist at the International Monetary Fund, Olivier Blanchard, warned earlier this week that continued declines in consumer spending would set off a global depression."
According to a lecture of Nick Beams recently held in Australia, "already on November 24, Bloomberg News reported that after the $306 billion bailout of the US bank Citigroup, organized at midnight the previous day, the US government had now committed itself to providing more than $7.76 trillion to the financial institutions and banks. This amount was the equivalent of half the American gross domestic product (GDP), or $24,000 for every man, woman and child in the US."
The very root of all evil, that is, capital; the very fiat money; the very speculative petro-dollars and their corresponding fake exchange values ... which are being used to try to solve the economic fiasco ... are themselves causing the depressive world cancer, form the real problem. Only the annihilation of capital, of capital production, of wage labor, of world capitalism, can eliminate perennial, cyclic, great depressions and fascist world wars. Fascism is the true snarling grin of democratic capitalism in mortal crisis. Currently a more violent and brutal fascism than in the age of Mussolini, Hitler and Franco is threatening humanity; over the last decades it already devoured a million Arab lives.
You cannot poison the corporate viper with its own venom!
If one has studied Marx's 'Capital' very well, one would know that pumping trillions into the late capitalist, globalized world market will just pour more oil onto the already burning corporate Moloch. Correctly Beams asks: "One reads these figures and asks the question: who is going to bail out the United States?"
Well, one morning we may wake up, like in the case of the Soviet Union or of the Twin Towers, and suddenly we would realize that overnight the United States of America, like anything else, have disappeared from the map, will have faded away into galactic oblivion. Hegel: Everything that comes into existence merits to pass away!
This is not an empty pipe-line, a pipe-dream; this is not smoking the global peace-pipe!
Since July 2008 who would have imagined that under global capitalism surplus and exchange values of an estimated amount of $25-30 trillion ... produced by exploited labor of billions of global wage-slaves and by the imperialist looting of natural resources ... can easily be wiped off the value of shares. In this way, millions of the middle and lower classes have lost millions, have lost their hard-earned savings in fixed deposits and in other bank facilities and transactions. Yes, in global, anarchic capitalism anything, everything is possible.
Anybody that still have two or three healthy neurons left cannot bank on or in this chaotic world system anymore. The whole corporate edifice is currently tumbling, rumbling and crumbling. In 2009, the worst is still to come.
Between 1939 and 1945, a world war that probably took over 100 000 000 human lives, ended up with nuclear warfare and it gave capitalism a short, new, agonizing lease of life.
How many lives will the current depression demand to "adapt" capitalism again? A thousand, a million, a billion?
- What do the warlords have in store for us in the New Year 2009? This only time which is longer than rope will tell us!
Meanwhile titans like General Motors and Toyota are teetering on the slippery rocks of the abyss of total bankruptcy. In fact, the Detroit “Big Three” ... Chrysler, Ford and General Motors ... were begging for a $34 billion lifeline; and worse even, their bankruptcy would mean the loss of around 3 million jobs.
How long will those who hopefully and democratically have voted for Barack Obama and his Democratic Party tolerate this miserable deteriorating situation?
At last, will the USA have to activate their "Patriot Acts" against the national and international starving, unemployed "terrorists"? Currently we have some 210 million unemployed workers on a world scale, if this crisis would deepen more, the figure might double in a very short period of time. The social consequences, especially in Africa, and in parts of South America and Asia, would be human misery beyond description.
What does this all mean in the long term?
What is happening is the result of our capitalist wage-labor and toiling capitalist system; nearly all its basic tendential laws of development were described by Marx in his "Capital". More recently, other Marxist economists like Rudolf Hilferding, Rosa Luxemburg, Lenin and Ernest Mandel updated scientific knowledge about these historic processes.
This ABC of the capitalist mode of production tells us what is the quintessence of the current world problem: since centuries, the only exclusive aim of capitalist world production was (and still is) to produce profits, surplus and exchange values, for an elitist minority, for the dominant, wealthy, ruling social classes, is to accumulate capital for the dominant opulent social parasites and their transnational corporations, ... and for nobody, for nothing else.
Who and what produce wealth and power?
The billions of exploited, dominated, discriminated and alienated wage workers. All these imperialist machinations are coming progressively to an end, to a standstill, and If the negation of capitalism, if socialism cannot be created on a global scale very soon, well, then fascist Orwellian barbarism will surely replace contemporary global 'Western, Christian Culture and Civilization'; this will not only mean the end of capitalism, but also the end of humanity on this planet. This is not "communist" jsrgon ... just study the warming up of the planet, the ozone layer, the melting of the poles, the weather, droughts, tsunamis and earthquakes, ... and come to scientific conclusions.
The bottom line is simply that all the major metropolitan powers, especially the United States, the Eurozone, Britain and Japan are all now deep in recession.
Who will have to bail them out? Again the workers? Or, finally, will a new
revolutionary wave, an international class struggle, sweep capitalism away into
its own black hole?
The answer, friends, is blowing in the wind. When shall we ever learn?
Franz J.T. Lee
franz@franzlee.org.ve
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Venezuela is facing the most difficult period of its history with honest reporters crippled by sectarianism on top of rampant corruption within the administration and beyond, aided and abetted by criminal forces in the US and Spanish governments which cannot accept the sovereignty of the Venezuelan people to decide over their own future.
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