PERHAPS YOUVE SEEN HIM.
HE'S THIS TALL, BLACK
ANDLOOKS LIKE
ANY ORDINARY
BULL
ECONOMY ideas across.
A world recession
An internationalist understanding of imperialism's crisis and a is on the horizon clear working class response are vital for workers and the oppressed who, as usual, will be the ones made to suffer when
BLACK MONDAY, October 19, was an extremely hard the world economic blow for the international capitalist economy. On that situation worsens. We are planning more thorough and the following day, the stock exchanges witnessed a coverage of the recent fall in share prices greater than that of Wall Street's crash and the economic
"Black Friday" in October, 1929.
crisis in the near future.
The total loss of US shareholders alone is evaluated at
So there can be no better time than the present for
$1,000,000 million. To give an idea of the scale, private helping us to extend our investors have lost the equivalent of nearly half of the sales. Our autumn sales total public debt of the United States. Total losses on a campaign got off to a good world scale are greater than $1.5 trillion, 50 per cent start with subscriptions increasing every issue.
more than the whole so-called "third world" debt.
With the help of our readers making an effort to win new subscribers, we should be able to increase our print run - and maybe even bring back the issues we lost because of cuts
A little investment in IV will bring in good dividends. We are still keen to receive donations to our standing fund drive.
We could make even more improvements in the quality of the magazine with a relatively small amount of cash. So put your money on us, and invest in "people's socialism"
for a secure
ERNEST MANDEL
ECAUSE the stock exchange recovered part of the loss in the days that followed does not signify that these losses were cancelled out -the people who lost money were not the same as those who won some back. The overwhelming majority of small- and medium-size shareholders lost without repurchasing or regaining anything in the days after the crash.
The violent fall in prices, which spread to all the stock exchanges in the capitalist world, reflects the enormous monetary instability that rules the international capitalist economy today. It is linked to the bourgeoisie's growing anxieties. Practitioners of the method of self-delusion, starting with Margaret Thatcher, commented that there was no need to be worried because the "real economy" would be OK This view is marked by blindness, if not a deliberate wish to deceive the public.
Fears of new recession justified
What is particularly distinctive about stock market speculation is that it never reflects the current situation. It anticipates — that is, it expresses predictions about what will happen tomorrow. In this sense, the crash in stock market prices corresponds to increasingly widespread fears of a new generalized recession. In terms of the real economy", these fears are entirely justified. November 9, 1987 • International Viewpoint