Article by Jorge Cadima, member of the International Department
On the outburst of the great capitalism crisis, the system’s governments and propagandists rushed to undrape the shirts they had worn until then. From savage capitalism great proclaimers, they suddenly became "greed", "risk culture", "excesses" verbal critics, declaring, they were in the roots of the collapse. In statements and during Summits deep changes were promised. But – they made a warning – firstly, the crash had to come to an end. Many thousand of millions were handed over by the States to the financial sector –the main responsible for the hole. And what has changed?
One of the greatest financial institutions – and also one of the greatest leader’s nurseries – is Goldman Sachs, in the USA. It received 10 thousand million of dollars, from public funds, last year. Now, it proclaims record profits in the second trimester, in 2009, and has decided to share 6.65 thousand million dollars, in gratuities, among its 29.400 workers (in Bloomberg, 09.07.14). Only this trimester, some of them will put into their pockets millions of dollars. Bloomberg states : Goldman Sachs " is reverting towards a business model, which was considered by the analysts, hopelessly bankrupt, in the course of the global credit crisis ", increasing its risk operations. That is, Wall Street multimillionaires keep on doing what they always did – and had said to be the cause of the crisis. Currently, they make us believe the crisis is relenting. They demand the "business as usual". Besides, for some, the crisis never took place. Wendelin Wiedeking, the Porsche ex- CEO, was dismissed, following an unsuccessful attempt to purchase Volkswagen, which led Porsche to a 10 thousand million euros debt. On his farewell, Wiedeking was given a 50 million Euros compensation ( in Bloomberg, 09.07.23 ), not mentioning a 77 million euro income, he had formerly received the previous year, while occupied in ruining Porsche. Many great banks are increasing their managers’ salaries (in Financial Times, 09.07.24). These are facts one must recall, when they will argue "all must accept sacrifices to overcome the crisis".
Whereas the great capital’s" greed" and " excesses" are in good health, for the rest of Humanity, the situation is otherwise. Millions of workers have lost their jobs and are falling into poverty. The official unemployment tax, within the USA, is close to 10%, but a more realistic measure and less manipulated ( the "U6" tax), reached 16.5% , in June ( in Bureau of Labor Statistics, www.bls.gov). The great capitalist countries’ employers and governments are committed in an offensive to increase exploitation of those who are still at work. The great capital never believed in "the end of class struggle". There exists a crisis for the great capital and another for the workers. General Motors’ bankruptcy was decried, in the USA. This situation only lasted for 40 days, after which, the workers could have spoken indeed, of an " September 11th ": 11 factories will be closed up till 2011, towards the end of this year, the number of workers will decrease from 91 to 67 thousand , and the ones who remained had their salaries drastically reduced. Strikes are forbidden ( in Workers’ World, 09.07.17). A similar disaster occurred in Chrysler, last April, decreeing bankruptcy, notwithstanding the workers’ acceptance of all the demanded concessions, in order to avoid it ( in Avante !, 09.05.21). Facts to recall, when, its said that the factories close down, in Portugal, owing to the "PCP’s intransigence.
The capitalism world crisis is far from its end. In an ultimate analysis, it is an colossal overproduction crisis. Immense productive forces are ought to be destroyed. But on destroying the worker’s purchase power, the crisis deepens. The crisis effects will continue to devastate the life of many millions of human beings. The USA’s budget deficit will achieve a stunning 1.8 million of million ("trillion") dollars, in the current year, and the total public debt being about 11.5 millions of millions (in Bloomberg, 09.07.13). Who will pay this bill? The great capital word of order is: "The pillage carries on! Workers to pay the crisis!" But the economic and social crisis is currently setting off resistance and struggle. Within which the class workers’ parties are called upon to play a central role. And, therefore, the fascism and violent anti-communism nostalgics, are, again, emerging from the gutters.