Overview of the Economic Crisis

What will be impact of the Wall Street bankruptcies, bailouts and blunders on working people in this country and worldwide? What's the solution to the crisis?

Perhaps only time will tell the full extent of the impact. Needless to say, this week’s developments don’t bode well for the future. Here are some thoughts from contributors to the People’s Weekly World and Political Affairs on the current economic crisis, the policies that got us to this point and the historical precedents.

We will update this resource list in the days and weeks to come, as the full scope of the crisis is better known.

Latest headlines...

End the Auto Crisis: Public Ownership to Save Jobs and the Environment
by Communist Party USA
Dec. 17, 2008 – PoliticalAffairs.net

Auto Salvation and Restructuring – Only the Workers Can Make it Happen
by John Case
Dec. 17, 2008 – PoliticalAffairs.net

Class struggle clarified
by Jim Lane
Dec. 16, 2008 – People's Weekly World

America's Choice
by Leo Gerard
Dec. 16, 2008 – PoliticalAffairs.net

Challenges and possibilities in the time of economic crisis
by Sam Webb
Dec. 12, 2008 – People's Weekly World

Layoff hits worker at time of celebration
by Tim Wheeler
Dec. 10, 2008 – People's Weekly World

Jobless rates rise, 533,000 more people lose their jobs in November
by Mark Gruenberg
Dec. 5, 2008 – People's Weekly World

Auto Bailout: Union Says, 'We're Not Bankers'
by Joel Wendland
Dec. 5, 2008 – PoliticalAffairs.net

Auto Bailout: 'We're Gonna Own Your Ass'
by PA
Dec. 4, 2008 – Political Affairs.net

As economic crisis worsens, hunger stalks the land
by Tim Wheeler
Dec. 3, 2008 – People's Weekly World

Union Leader Slams Wall Street/GOP Hypocrisy
by PA
Dec. 3, 2008 – PoliticalAffairs.net

People Before Profits: Economic stimulus in China and the U.S.
by Wadi'h Halabi
Dec. 3, 2008 – People's Weekly World

They auto know better: Fueling anti-union fires
by Walter Brasch
Dec. 1, 2008 – People's Weekly World

November 2008

Obama projects massive recovery plan
by Susan Webb
Nov. 26, 2008 – People's Weekly World

Global labor needs a global stimulus
by Scott Marshall
Nov. 25, 2008 – People's Weekly World

Reflections on the (Unplanned) Death of an Ideology
by Peter Zerner and Joel Wendland
Nov. 24, 2008 – PoliticalAffairs.net

The Crash of 2008 and Historical Materialism
by John Case
Nov. 24, 2008 – PoliticalAffairs.net

Let the nation own the Big 3
by Ralph Shaffer and Norma Jeanne Strobel
Nov. 24, 2008 – People's Weekly World

Nationalization (Not Loans) Can Save US Auto
by John Case
Nov. 18, 2008 – PoliticalAffairs.net

World unions: Time for a global economic fix is now
by John Wojcik
Nov. 17, 2008 – People's Weekly World

Opinion: Recovery Package for Working Women
by Ellen Bravo
Nov. 17, 2008 – People's Weekly World

How More Socialism Can Save the Economy
by John Case
Nov. 12, 2008 – PoliticalAffairs.net

Jobs Report Signals Need for New Stimulus Package
by PoliticalAffairs.net
Nov. 7, 2008

240,000 Jobs Lost Last Month
by John Wojcik
Nov. 7, 2008 – People's Weekly World

Economy fix can’t wait until 1.20.09
by John Wojcik
Nov. 6, 2008 – People's Weekly World

Government by Market Gods or for the People?
by Anna Pha
Nov. 5, 2008 – PoliticalAffairs.net

Inject Demand into the Economy not Liquidity
by Prabhat Patnaik
Nov. 3, 2008 – PoliticalAffairs.net

Oct. 2008

Credit Crunch Hits College Students
by Matthew Cardinale
Oct. 24, 2008 – PoliticalAffairs.net

'Jobs for workers come first'
by John Wojcik
Oct. 23, 2008 – People's Weekly World

Time Warp: Hoover, Bush, McCain and Economic Crisis
by Norman Markowitz
Oct. 23, 2008 – PoliticalAffairs.net

Economic crisis clobbers California
by Marilyn Bechtel
Oct. 17, 2008 – People's Weekly World

Marx was right
by PWW/NM Editorial Board
Oct. 17, 2008 – People's Weekly World

Nationalize banks, employ unemployed
by John Case
Oct. 16, 2008 – People's Weekly World

Revising the Social Contract
by Norman Markowitz Oct. 16, 2008 – PoliticalAffairs.net

Presidential Debate Fact Check: McCain's Big Bank Bailout
Oct. 16, 2008 – PoliticalAffairs.net

Some Reflections on the Turbulence of Alan Greenspan
by Thomas Riggins
Oct. 15, 2008 – PoliticalAffairs.net

Labor-led coalition demands recovery plan for Main Street
by John Wojcik
Oct. 9, 2008 – People's Weekly World

Is this Capitalism’s End of Days?
by Norman Markowitz
Oct. 8, 2008 – PoliticalAffairs.net

The crisis of family debt
by Art Perlo Oct. 6, 2008 – People's Weekly World

Obama calls for 'middle class' bailout
by Joel Wendland
Oct. 3, 2008 – People's Weekly World

To bail, or not to bail?
by Teresa Albano and John Wojcik
Oct. 1, 2008 – People's Weekly World

OPINION: Finances and the current crisis: How did we get here and what is the way out? Part 2
by Sam Webb
Oct. 1, 2008 – People's Weekly World

Taking it to Wall Street: Rallies vs. bailout crowd 'the street'
By Libero Della Piana
Oct. 1, 2008 – People's Weekly World

Why the Rush
by Peter Zerner and Joel Wendland
Oct. 1, 2008 – PoliticalAffairs.net

Obama Calls for Comprehensive Response to the Economic Crisis
Oct. 1, 2008 – PoliticalAffairs.net

International Perspectives

Results of G-20 Meeting on the Global Economy
by Fidel Castro

Canada: Invest in Jobs and Improve Employment Insurance
by People's Voice

Vietnam Creates Measures to Tackle Financial Turmoil
by Vietnam News Agency

Another World Depression? Finance Capital and Neo-Deflationism
by Utsa Patnaik, People's Democracy

Australia's Bailout Black Hole
by Anna Pha, The Guardian

Japan: Government Plans to Force People to Pay for Financial Fallout
by Akahata

Israel and the Current Capitalist Crisis

Economy is key issue in Canada's elections


Trade Unions Demand Effective Responses to Worsening Financial and Food Crises

Financial Crisis in Europe: Alternatives Demanded

US Crisis Affects Central America

Bailing Out Capitalism
From The Guardian (Australia), Sept. 24, 2008

Bush's Self-criticism
From Cuban News Agency, Sept. 28, 2008

The End of the Illusion
From People's Democracy (India), Sept. 28, 2008

Time to Break with Casino Capitalism
From Akahata (Japan), Sept. 24, 2008

Sept. 2008

Financial Crisis, Bailouts, and the Real Economy, Speaking with Sam Webb
by PoliticalAffairs.net
Sept. 30, 2008 – PoliticalAffairs.net

How about a trickle-up bailout instead of trickle down
by Scott Marshall
Sept. 29, 2008 – Labor Up Front

Stock market drops 777 points as House votes down Wall Street bailout
by Joe Sims
Sept. 29, 2008 – People's Weekly World

Audio: Interview with Sam Webb, CPUSA
Sept. 28, 2008 – Political Affairs Podcast

OPINION: Finances and the current crisis: How did we get here and what is the way out?, Part 1
by Sam Webb
Sept. 28, 2008 – People's Weekly World

What the Banking Crisis Really Means
by Norman Markowitz
Sept. 2008, PoliticalAffairs.net

Editorial: Shock and Awe Revisited
Sept. 25, 2008 – People's Weekly World

$700,000,000,000 for what?
By John Wojcik Sept. 25, 2008 – People's Weekly World

Reject the 'Bankers' Strike': Groups Demand No Bailout Without Conditions
Sept. 25, 2008 – PoliticalAffairs.net

Rescue Me!: What Else Could We Use the Bailout Money For?'
By Peter Zerner and Joel Wendland
Sept. 25, 2008 – PoliticalAffairs.net

Barney Smith, Not Smith Barney
By Joelle Fishman
Sept. 24, 2008 – People's Weekly World

Save Main Street, Not Wall Street
By Communist Party USA
Sept. 23, 2008 – CPUSA.org

Ramming Through the Bailout
By Sam Webb
Sept. 23, 2008 – CPUSA.org

Wall Street Bailout: Not Without Preconditions
By Joel Wendland
Sept. 23, 2008 – PoliticalAffairs.net

EDITORIAL: Bailout Main Street
Sept. 19, 2008 – People's Weekly World

Economic Meltdown
By Joel Wendland
Sept. 19, 2008 – PoliticalAffairs.net

Wall Street meltdown wallops Main Street
By Phil Cadman
Sept. 19, 2008 – People's Weekly World

From Archives:

Is Freddie Mac really never coming back?
By John Wojcik
Sept. 8, 2008 — People's Weekly World

Got money?
By Marilyn Bechtel
Aug. 15, 2008 — People's Weekly World

Mac the Knife: Cut the Needy to Feed the Greedy
By Joelle Fishman
July 24, 2008 — PoliticalAffairs.net

Interview with Doug Henwood, Left Business Observer
May 29, 2008 — PoliticalAffairs.net


Time for a New Deal

by Norman Markowitz
May 29, 2008 — PoliticalAffairs.net

Financial Crisis and Class Struggle
By Paulo Nakatani and Rémy Herrera
May 28, 2008 — PoliticalAffairs.net

Foreclosures point to systemic crisis
By Denise Winebrenner Edwards
April 4, 2007 — People's Weekly World

Bailout goes to Wall Street, not Main Street
By John Wojcik
March 20, 2008 — People's Weekly World

Things Fall Apart: Wall Street and the Crisis of US Imperialism
By Joe Sims and Joel Wendland
March 2008 – PoliticalAffairs.net


the Storm: the economic recession

Video interview with Sam Webb
March 10, 2008 — Communist Party USA

Unions tackle

housing, foreclosure crisis

By John Wojcik
March 9, 2008 — People's Weekly World


with Art Perlo, CP Economics Commission

Feb. 15, 2008 — PoliticalAffairs.net

To fix economy

put working class first

By Teresa Albano
Jan. 24, 2008 — People's Weekly World

Banks bilk

homebuyers, Black, Latino families hit hardest

By Tim Wheeler
Jan. 19, 2008 — People's Weekly World

A look behind

the housing crisis

By Art Perlo
Aug. 30, 2007 — People's Weekly World

Mortgage crisis

stoked by incredible greed

By Susan Webb
Aug. 16, 2007 — People's Weekly World

Corporate thievery, a new political moment
By Sam Webb
July 20, 2002 — People's Weekly World

En Español:

Salvemos al pueblo, no a Wall Street
por Partido Comunista de Estados Unidos de América (PCEUA).
Oct. 2, 2008 – Nuestro Mundo

¿Rescate económico o no rescatar?
por Teresa Albano y John Wojcik
Oct. 2, 2008, Nuestro Mundo

La crisis económica y las viviendas
Por Art Perlo
26 de Julio, 2008 — Nuestro Mundo

La crisis economica hoy: Entrevista con Douglas Henwood
29 de Mayo, 2008, – PoliticalAffairs.net