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France Rises Up Against the New Fascism - Vaccine Passports 23:57 Jul 21 3 comments

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Anti-Empire

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Human Rights in Ireland

Indymedia Ireland is a volunteer-run non-commercial open publishing website for local and international news, opinion & analysis, press releases and events. Its main objective is to enable the public to participate in reporting and analysis of the news and other important events and aspects of our daily lives and thereby give a voice to people.

Julian Assange is finally free ! Tue Jun 25, 2024 21:11 | indy

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Lockdown Skeptics

Porsche Scraps Electric Car Targets as Demand Slumps Tue Jul 23, 2024 19:43 | Will Jones
Porsche has scrapped its sales targets for EVs amid a slump in demand. A previous goal of 80% by 2030 has been watered down and the company now says sales will depend on uptake and how the technology develops.
The post Porsche Scraps Electric Car Targets as Demand Slumps appeared first on The Daily Sceptic.

?Mission-Driven? Government is the Antithesis of Liberty Tue Jul 23, 2024 17:30 | Dr David McGrogan
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The post “Mission-Driven” Government is the Antithesis of Liberty appeared first on The Daily Sceptic.

Victory! Hospitals That Brought Back Mask Mandates Backtrack After Complaints Tue Jul 23, 2024 15:30 | Dr Gary Sidley
A victory in the mask wars! Two hospital providers that brought back mask mandates have backtracked and scrapped them following complaints from Daily Sceptic readers and Smile Free supporters.
The post Victory! Hospitals That Brought Back Mask Mandates Backtrack After Complaints appeared first on The Daily Sceptic.

Read it and Weep: The BBC Journalists Taking Home Six Figure Salaries Courtesy of the Licence Fee Pa... Tue Jul 23, 2024 13:45 | Will Jones
Read it and weep: the list of the BBC journalists taking home six figure salaries courtesy of the licence fee payer. Disgraced presenter Huw Edwards came top with £475k despite being off air for nine months of the year.
The post Read it and Weep: The BBC Journalists Taking Home Six Figure Salaries Courtesy of the Licence Fee Payer appeared first on The Daily Sceptic.

David Lammy: The Foreign Secretary Who Called Trump ?a Racist KKK and Nazi Sympathiser? and Refuses ... Tue Jul 23, 2024 12:43 | Peter Harris
Britain's new Foreign Secretary, David Lammy, is on record calling Donald Trump "a racist KKK and Nazi sympathiser" and has refused to apologise. This is clearly going to be a problem, says Peter Harris.
The post David Lammy: The Foreign Secretary Who Called Trump “a Racist KKK and Nazi Sympathiser” and Refuses to Apologise appeared first on The Daily Sceptic.

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Voltaire, international edition

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The Current Capitalist Crisis

international | anti-capitalism | opinion/analysis

Monday June 27, 2011 21:39

by Paddy Hackett

rasherrs at eircom dot net

Report this post to the editors

Financialisation

Financialisation is a universal scam dressed up as a sophisticated exercise designed to create the illusion that the economic system is faring well. But at the end of the day it is just a paper generator with no authentic exchange value. It just postpones the day when the law of the tendency of the general rate of profit manifests itself in the form of an economic crisis.

Marx's Capital has not lost its value as a means to a correct understanding of the nature of capitalism today. The law of value is every bit as relevant today as it was in the past.

Some commentators from within the radical left effectively dismiss Marx's Critique of Political Economy. They see financialisation as evidence that capitalism today is not subject to the law of value and the law of the tendency of the general rate of profit to fall.

Financialisation is just a disguised mechanism for pumping lots of easy credit into the economy. It constitutes a mechanism for "artificially" propping up demand for commodities and thereby maintaining profitability. This is the mechanism whereby the general rate of profit is buoyed up. However it is a mechanism that has its limits. Ultimately the underlying situation surfaces, other things being equal,leading to a general economic crisis. The capitalist class throws paper at the problem. Greshem's Law works it way through chasing good loans out of the system thereby being replaced by bad loans.

Financialisation is a universal scam dressed up as a sophisticated exercise designed to create the illusion that the economic system is faring well. But at the end of the day it is just a paper pump with no authentic exchange-value. It just postpones the day when the law of the tendency of the general rate of profit to fall manifests itself in the form of an economic crisis.

Marx's Capital has not lost its value as a means to a correct understanding of the nature of capitalism today. The law of value is every bit as relevant today as it was in the past.

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