Upcoming Events

National | Anti-Capitalism

no events match your query!

New Events

National

no events posted in last week

Blog Feeds

Anti-Empire

Anti-Empire

offsite link North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

offsite link Trump Assembles a War Cabinet Sat Nov 16, 2024 10:29 | Marko Marjanovi?

offsite link Slavgrinder Ramps Up Into Overdrive Tue Nov 12, 2024 10:29 | Marko Marjanovi?

offsite link ?Existential? Culling to Continue on Com... Mon Nov 11, 2024 10:28 | Marko Marjanovi?

offsite link US to Deploy Military Contractors to Ukr... Sun Nov 10, 2024 02:37 | Field Empty

Anti-Empire >>

The Saker
A bird's eye view of the vineyard

offsite link Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
Alternative site: https://thesaker.si/saker-a... Site was created using the downloads provided Regards Herb

offsite link The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
Dear friends As I have previously announced, we are now “freezing” the blog.? We are also making archives of the blog available for free download in various formats (see below).?

offsite link What do you make of the Russia and China Partnership? Tue Feb 28, 2023 16:26 | The Saker
by Mr. Allen for the Saker blog Over the last few years, we hear leaders from both Russia and China pronouncing that they have formed a relationship where there are

offsite link Moveable Feast Cafe 2023/02/27 ? Open Thread Mon Feb 27, 2023 19:00 | cafe-uploader
2023/02/27 19:00:02Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link The stage is set for Hybrid World War III Mon Feb 27, 2023 15:50 | The Saker
Pepe Escobar for the Saker blog A powerful feeling rhythms your skin and drums up your soul as you?re immersed in a long walk under persistent snow flurries, pinpointed by

The Saker >>

Lockdown Skeptics

The Daily Sceptic

offsite link News Round-Up Tue Dec 03, 2024 00:43 | Richard Eldred
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

offsite link Cost of Switching Off U.K. Wind Farms on Windy Days Hits ?Absurd? ?1 Billion Mon Dec 02, 2024 20:00 | Will Jones
British energy bill payers have spent an "absurd" ?1 billion to?temporarily switch off wind turbines?so far this year because the grid struggles to cope with their power on windy days.
The post Cost of Switching Off U.K. Wind Farms on Windy Days Hits “Absurd” ?1 Billion appeared first on The Daily Sceptic.

offsite link David Starkey is Right That Blair Destroyed the British Constitution But Wrong About This Mon Dec 02, 2024 18:03 | James Alexander
David Starkey is right that Tony Blair and New Labour destroyed the British Constitution and did lasting harm to the country, says Prof James Alexander. But here are some things he gets wrong.
The post David Starkey is Right That Blair Destroyed the British Constitution But Wrong About This appeared first on The Daily Sceptic.

offsite link Jaguar?s ?Barbie Pink? Electric Car Leaked Online Mon Dec 02, 2024 15:45 | Will Jones
Jaguar's controversial new concept electric car has been leaked online ? showing the vehicle in hot pink in a design likened to FAB1 from Thunderbirds and the Barbie car.
The post Jaguar’s ‘Barbie Pink’ Electric Car Leaked Online appeared first on The Daily Sceptic.

offsite link Trump Asks if Biden Will Now Pardon the ?January 6th Hostages? After He Pardons Son Hunter Mon Dec 02, 2024 13:41 | Will Jones
Donald Trump has said Joe Biden should now pardon those imprisoned for the January 6th Capitol riots after he pardoned his son Hunter, claiming the conviction was "politically motivated".
The post Trump Asks if Biden Will Now Pardon the “January 6th Hostages” After He Pardons Son Hunter appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network
Voltaire, international edition

offsite link Voltaire, International Newsletter N?110 Fri Nov 29, 2024 15:01 | en

offsite link Verbal ceasefire in Lebanon Fri Nov 29, 2024 14:52 | en

offsite link Russia Prepares to Respond to the Armageddon Wanted by the Biden Administration ... Tue Nov 26, 2024 06:56 | en

offsite link Voltaire, International Newsletter N?109 Fri Nov 22, 2024 14:00 | en

offsite link Joe Biden and Keir Starmer authorize NATO to guide ATACMS and Storm Shadows mis... Fri Nov 22, 2024 13:41 | en

Voltaire Network >>

Why the Fianna Fail Party wants to avoid bank nationalisation.

category national | anti-capitalism | opinion/analysis author Sunday August 16, 2009 15:51author by Paddy Hackett - Noneauthor email patrickhackett at hotmail dot comauthor address Ireland Report this post to the editors

Why the Irish government want to avoid bank nationalisations.

Capitalism is afraid to let the depression go its full course to thereby cleanse the system because of the potential threat from the working class. Indeed capitalism has become so contradictory that even a very deep downturn may not save it from deep stagnation. The cyclical downturn is now no longer sufficient as it would have been in the 19th century. Now we need cyclical world wars.

Many economic commentators call for the nationalisation of Irish banks. They claim that it will reduce costs to the state. It is suggested by some commentators such as SIPTU's Manus O Riordan and Brian Lucey that Fianna Fail's policy concerning the refusal to nationalise is ideologically driven. This cannot be true especially given its history of past nationalisations and its generally populist character. They miss a sigificant political point. It is the Fianna Fail party's intention to maximise protection to the developers and their allies, the Irish banks. This Fianna Fail hopes to achieve by buying toxic assets at a higher price than is necessary. In this way revenue will have been transferred from one section of the capitalist to another --to the bankers and developers. The acute nature of the Irish Republic's economic crisis is exposing the degree to which the existence of the Fianna Fail party depended on the financial support of Irish property developers. Fianna Fail cannot turn on the developers. To do so would be to turn on itself. This, in a sense, is the basis for the Irish property bubble and the Fianna Fail government's procrastination wirth regard to its collapse.

It must be also remembered that not all Irish developers are going to ultimately suffer from the property market collapse. Many of the weaker property developers will be squeezed out to the advantage of the stronger capitalist developers. In this way they can increase their profits. Indeed the present depression is all about the need to squeeze weaker capitalists out of the system to the advantage of bigger ones. If there is not a social revolution then there will be a consolidation of finance capital at the expense of weaker capitalists and the working class.

If there is not a global revolution the working class are in for a hard time. This is why I have written that things, in the wake of the current depression, are never going to be the same again. The working class, to defend its class interests, must strengthen itself organisationally and politically against the consolidation of capitalism. The worker is going to be made pay for the billions that Washington, London, Paris etc., have recently injected into the financial sector to help slow down and arrest the downturn. But this massive unprecedented injection of funds into the system is merely going to create a new "bubble" that leads to a new collapse. Capitalism is afraid to let the depression go its full course to thereby cleanse the system because of the potential threat from the working class. Indeed capitalism has become so contradictory that even a very deep downturn may not save it from deep stagnation. The cyclical downturn is now no longer sufficient as it would have been in the 19th century. Now we need cyclical world wars.

Paddy Hackett

Related Link: http://paddy-hackett.blogspot.com
author by sam simpson - SFpublication date Sun Aug 16, 2009 23:55author email samsimpson at utvinternet dot comauthor address author phone Report this post to the editors

The truth of the matter is that unless Ireland in particular gets radical if not revolutionary political change very soon, a descent into serious and sustained social unrest with the inevitable 'security' crackdown is on the way. The signs are ominous. Unfortunately the lack of either resources or cohesion amongst the Left are making a viable alternative appear very far off, and a successful Revolution no more than a pipedream. The re-democratisation of Democracy will inevitably require compromises. It is time for the Left to unite - my enemy's enemy is my friend...

author by Fred Johnstonpublication date Tue Aug 18, 2009 20:05author address author phone Report this post to the editors

Fianna Fáil want to keep the banks alive because the banks propped up developers who in turn, almost by tradition, propped up Fianna Fáil. The real danger is that a rogue banker, finding himself in the courts (which, naturally, shoud be the destination of such folk) will decided to spill rotting beans about how deep the bank.developer/Fianna Fáil connections run.

 
© 2001-2024 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy