The United States Treasury Department announced this week that it will double the buying of its own bonds. These are desperate measures indeed.
The Economy
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Is Universal Basic Income a Solution?
No fewer than 53% of Americans are concerned that they or someone in their household will lose their job to AI. Back in February, another poll found that 72% think the government should take action to prevent AI-related job losses.
If AI Doesn’t Take Your Job, It Might Make It More Miserable
The amount of capital being poured into building out AI defies all historical precedent. AI “hyperscalers” are planning to spend over $5 trillion by the end of the 2020s.
Big Oil and Gas Rake in Billions from the Iran War—Expropriate Them!
Big Oil and Gas executives have been mercilessly cashing in on the Iran War and closure of the Strait of Hormuz. The resulting severe shock to the world’s energy market—largely dependent on fossil fuels—has delivered a historic level of profit to these war profiteers, as oil prices have shot up.
Musk Rides the A.I. Bubble to Brief Trillionaire Status
Elon Musk became the world’s first trillionaire following the initial public offering (IPO) of SpaceX. It’s the largest IPO in history.
Iran War Pushes World Towards Food Crisis
American and Israeli imperialism are dragging the whole world towards disaster. Not only have they butchered at least 7,000 people and injured over 46,000 more across the Gulf region, but now the prolonged closure of the Strait of Hormuz threatens a food crisis of catastrophic proportions where millions could die.
The Economic Consequences of the War in Iran
The US-Israeli war on Iran is a turning point, not just in the balance of forces between the powers, but also in the world economy. It is bringing to the fore all the contradictions that have been accumulating over the past period: inflation, debt, and the looming recession.
Higher Prices for Workers—Higher Profits for Billionaires
As workers trim their grocery lists and avoid driving to save money, corporate profits reached almost 16% of GDP—a historic high.
Fertilizer Shortage Drives Catastrophic Food Inflation
According to the UN’s World Food Programme, “The total number of people around the world facing acute levels of hunger could reach record numbers in 2026 if the escalation in the Middle East continues to destabilize the world’s economy.”
AI Investment Prepares New Attacks on the Working Class
When Al emerged some years ago, commentators said that Al and robots were going to take over the world, that we were all going to be unemployed, and so on. But at the time, this was more conjecture than anything. Without investment, AI as we know it would never have become a reality.
Job Market Pessimism is Setting New Records
The material conditions of young workers in the US are plummeting, and everyone can see it. Even the most pro-capitalist, right-wing members of the Epstein class are saying it.
Prices Are Up … But the Real Inflation Crisis Hasn’t Even Begun
The most dramatic result of the US-Israeli war on Iran will be its impact on the world economy. Even if the war were to end tomorrow—which is exceedingly unlikely—the economic fallout will last months, if not years.
The Communist: The Voice of America’s Communist Generation
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.