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Raising interest rates: a recipe for world recession

Raising interest rates: a recipe for world recession


Thursday, 3 November 2022 

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Raising interest rates: a recipe for world recession

The past few months have seen central banks scrambling to raise interest rates to control inflation. Yesterday, the Federal Reserve introduced another 0.75 percentage point hike, and the Bank of England will follow suit today. This spate of rate hikes caused mortgage rates to multiply, government borrowing rates to spiral, and now a recession looms. This will be painful for ordinary people, but will the ruling class achieve its aims?


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Brazil: after the elections, prepare for the coming victories! Organise and mobilise with class independence!

Bolsonaro’s defeat is a victory for the working class and the youth that opens up a new political situation in the country. Popular hatred for the reactionary government overcame the widespread and brazen use of the state machine in the electoral contest; the fake news; and the policy of class conciliation on the part of Lula and the PT.


Após as eleições, preparar as próximas vitórias! Organizar e mobilizar com independência de classe!

A derrota de Bolsonaro é uma vitória da classe trabalhadora e da juventude que abre uma nova situação política no país. O ódio popular ao governo reacionário superou o amplo e descarado uso da máquina estatal na disputa eleitoral, as fake news e, também, a política de conciliação de classes de Lula e do PT.


Iran: pour un programme révolutionnaire!

Le 13 septembre, une jeune femme kurde nommée Jîna Emînî était arrêtée à Téhéran par la « Police de la moralité », qui lui reprochait de porter son hijab d’une façon « incorrecte ». Après avoir battu son frère, ils ont torturé la jeune femme jusqu’à ce qu’elle perde connaissance. Après avoir été emmenée à l’hôpital, elle est finalement morte de ses blessures le 16 septembre.


「民主主義を守る武器」云々のおとぎ話

ゼレンスキーはヨーロッパ民主主義の諸価値を守護する人物だと一般には言われている。だが今年二月のロシアによる侵攻は、彼が「ロシア協力者に対する闘い」の名の下でウクライナ国内の政治的反対派を抑圧するのに格好の口実を与えたのである。