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The ruling class is increasingly gripped with panic over the prospect of an impending stock market crash. The former chief economist at the IMF has warned that the coming “correction” could sink the world economy into a major slump, evaporating as much as $35 trillion in one fell swoop.
As ruling-class bloodsuckers feed on our immiseration, trips to aisle four have become extra painful for workers.
Last year, corporate America amassed record profits of $4 trillion. This year, the stock market hit multiple record highs. However, symptoms of a deep, systemic illness are beginning to bubble to the surface.
Average electricity bills have risen 27% in the last five years. Thanks to the AI data-center boom, they’re likely to rise even faster in the years ahead. The energy demands of these centers could more than double electricity prices by the end of the next decade, according to a report by Dominion Energy.
Nine months of the US–China trade war has conclusively proved that China has more leverage over the US than the US has over its rival.
Nearly one million workers have been laid off so far this year. While AI and automation are driving job cuts, they are just one factor among the broader economic downturn and market unpredictability.
China, which only two decades ago was still mired in backwardness, is now engaged in a titanic rivalry with the US in which it is holding its own. How did the Chinese economy manage to do this? And what does this mean for the crisis of world capitalism?
17 years after the 2008 crash, a whole generation has only experienced falling living standards, and it is denied a future by this decaying system, capitalism. The coming period will be a crash test for the stability of capitalist rule on a world scale.
In an effort to compete with Chinese state capitalism, Trump is intervening in the economy with an even heavier hand than his predecessors.
The only ones who have benefitted from the past 18 years of economic measures have been a tiny handful of parasitic billionaires whose wealth, buoyed by the stock market bonanza, has increased exponentially. And the rest of the world is paying the price.
Generations of Americans have been told that as long as you earn a college degree, you can land a white-collar job and have the same kind of job security as your parents or grandparents. Now a slowing economy paired with the rise of AI has made white-collar jobs more precarious than ever.
“If you work hard and play by the rules, you’ll get ahead.” Thus, the “American dream” has been ingrained for generations. But in our era of capitalist decline, millions of American workers have completely lost faith in this idea.
The Communist is the official newspaper of the party of the Revolutionary Communists of America. It is different from any other publication you’ll find in the US today. Behind this newspaper, there’s a vast network of communist activity from coast to coast. It is a tool for organizing in the streets, at protests and strikes, for building communist cells in our neighborhoods, workplaces, and campuses.
The RCA is on a mission to carry Bolshevism into the political arena of a country that’s ripe for it. Yes, we’re Bolsheviks living in the digital age, and we also use social media and our podcast to spread the communist program. But we’re not the kind of internet leftists who stay inside and “do politics” online. That’s why we need something we can carry with us into the streets and put into people’s hands. The physical paper is an instrument for building a real-life organization—a genuine Communist Party of fighters.