the rule of many over rule of the few.

Archive for November, 2011

Ireland/Euroland and 1848


We are now in third year of the Bank Guarantee years,which is ruled by the Financial Aristocracy as Marx called them. However their highly paid servants work out of government buildings working overtime to make sure their masters do not take too much of a hit in their pockets. At the moment one of issues which seems to be taxing our Government is the issue of their correct titles to be used when dealing with the public,one wonders if they actually live on the same planet as the rest of society. This at a period of the deepest cuts this state has seen.

While they worry over such important issues unemployment continues to reach unprecedented levels, reprocessions at their highest,fear and poverty are staring so many in the face. Of course Fine Gael and their Labour Blue Shirts tell us their first priority is to create jobs, set the ship of state on a true course,while at the same time breaking every election promise made during their election campaign. Their excuse Merkozy will not allow them carry out promises made.The venality of politicians knows no bounds,anything for the Ministers salary and the Chauffeur driven car. So they follow the diktat of the German lower house of Government which studied the Irish Government budget proposals for next week, gave the go ahead for more depraved attacks on the living standards of working people.While the bankers and stock market sharks continue to feed off the most oppressed,for make no mistake it is poorest in our society, who are paying for their bad gambles.

With the crisis ever deeping in Euro-land and the prospect of having to go cap in hand to Europe for permission to spend a penny, it is not something the Irish capitalist class desires, but will kowtow too it, if it means preserving their wealth. Among some their is talk of losing our “Sovereignty”what are they talking about,the right to a postage stamp or  run the tricolour up the flag pole. For this is all we have had since the U.K. pulled its troops out of the 26 counties.Under De valera this place was a basket case no matter what he tried, Connolly’s words would haunt him,that we are tied to England by a thousand financial strings and that it was not enough to just take down the butchers apron and run up the Tricolour. This Lemass knew and opened Ireland up to for business,knowing capitalism has no interest in nations only in greenbacks/dollars.

If Merkozy can resolve this crisis and in my opinion it is a huge ask almost impossible,however for  Irish capitalism their will be no second thoughts ,they will be at the feet of Merkozy@ company. Old Dev must be turning in his grave. Of course there is an alternative set a flame to the stock markets of Europe with the stock market sharks on top.

Then let those who are paying such a heavy price take ownership of the store.


Italy has a new Government imposed on them thanks to Merkozy, Greece likewise, whose new  leader was part of the circle which squandered away the wealth of Greek working people. Included in this new national unity government is a fascist party,(LOAS)the leader of which is known for hunting down leftists with hammer in hand. This government has also gone on a spending spree,buying tanks and other arms from the U.S. This Merkozy and company gave permission for,so much for having no money. America willingly advanced the credit.(This information comes from “nakedcapitalism blog”)

This while its people are pummeled into poverty.One can speculate, the army is last line of defense against a working class seething with anger at its impoverishment.All it takes is one loose cannon,you only have to look at the middle east to see how even dictators can loose control.It is somewhat harder in Europe where the capitalist class have more experience in dealing with rebellions at home and in their colonies. Plus they have the fig leaf of Democracy,as Trotsky said when a capitalist starts talking about democracy hang onto your wallet.Armed might is the final arbiter between classes.  Spain also has a new government, the right-wing people’s party Franco’s old party. All these countries bonds are rising daily on the bond markets in particular Italy.With even Germany s bonds not selling and the interest rising.Last week the market sharks let Germany know who was in charge by not buying its bonds, If it goes the party is over for capitalism for a period,with massive dislocation for world politics,the consequences of which will take some time to materialize, enough to say it will not be pleasant for working people. It can be different if one of these bankrupt states is breached by a workers uprising,the future could be very different.


This was a year of revolutions even in Ireland.(Young Irelanders’) It was also the year of the great banking crash similar to the present. British banks crashed mass unemployment followed. In France barricades and revolution were on the streets against capital and Royalty. Marx wrote

While the financial aristocracy made laws, controlled the state administration, exercised authority in all public institutions,and controlled public opinion by actual events and through the press, the same prostitution,the same blatant swindling, the same mania for self enrichment not from production but by sleight of hand with other people’s wealth was to be found in all spheres of society, from the Court Borgne.(disreputable bars/cafe) The same unbridled assertion of unhealthy and vicious appetites broke forth, appetites which were in permanent conflict with bourgeois law itself, and which were to be found particularly in the upper reaches of society, appetites in which the wealth created by financial gambles seeks its natural fulfillment, in which pleasure becomes crapuleux,(Debauched) in which money, filth and blood commingle. In the way it acquires wealth and enjoys it the financial aristocracy is nothing but the lumpen proletariat (De classed long-term unemployed) reborn at the pinnacle of bourgeois society.

So things haven’t changed then.

This is not 1848 or for that matter 1917  capitalism is weak, yet strong because of the lack of an organized class resistance,or the resistance is weak,but in the heat of struggle everything is possible,the goal remains the same,workers rule.




Merkozy s Europe Imploding.

I start with a quote from a man hated in his time,now studied by free marketeers all over the world at present, for his insights into the capitalism.

“It is enough to mention the commercial crises that by their periodical return put on trial, each time more threateningly, the existence of the entire bourgeois society. In these crises a great part not only of the existing products, but also of the previously created productive forces, are periodically destroyed. In these crises there breaks out an epidemic that, in all earlier epochs, would have seemed an absurdity the epidemic that, of overproduction. Society suddenly finds itself put back in a state of barbarism, it appears as if a famine, a universal war of devastation had cut off the supply of every means of subsistence; industry and commerce seem to be destroyed; and why? “(instead of overproduction read banking crises)

“The conditions of bourgeois society are too narrow to compromise the wealth created by them. And how does the bourgeois get over these crises? On the one hand by the enforced destruction of a mass of productive forces,on the other by the conquest of new markets, and by the more thorough exploitation of the old ones. That is to say, by paving the way for more extensive and more destructive crises,and by diminishing the means whereby crises are prevented”(Karl Marx  Communist  1848)

This from 1848 the year of revolutions throughout Europe against autocracy and the rise of capitalism. Even at this point Marx seen through capitalism, its internal dynamics, its future destructive role for working people. At present working people throughout world are facing into one of the worst crises of capitalism since the great depression.


Too big fail, well its failed. It cannot pay its way not on bond prices at the moment. It is now a real question over who is in and who is out of the Euro Club.More importantly is the effects the fall out will have on the rest of the world. As is seen in the present crisis countries are more like large companies and this is particularly seen in the European Union.With the present crisis a number of its subsidiaries (Ireland/Portugal/Greece/Italy) need axing as loss making parts of the company. Of course it is now greater than that, as the company itself is now in jeopardy. Italy takes Europe to a different level its debts are massive and it cannot continue to sell bonds at the interests demanded by the markets,nor can the E.C.B fund Italy. It also puts into peril France which is tied into Italy by a thousand banking deals,running into billions. For European capitalism to survive Merkozy and company are prepared to force on the people of Greece and Italy an unelected Technocrat to maintain peace and stability, while they downsize the company. Will it their will be resistance but the states security guards will be paid well, to put down any opposition.

Loss of Sovereignty/Democracy:

This has already happened look at Ireland your Government cannot spend a penny without permission from the Troika, this will last for the next period of debt, approx ten years. The people of Greece were not permitted to vote on their so-called rescue, an unelected technocrat put in the place of their elected government, good or bad. This decision taken in their interests by the chairman of the board and her deputy. Capitalists have always used democracy as a fig leaf when it sought to make more profits,one only has to look at its role in south America. Now the chickens have come home to roast. Are we now looking at more authoritarianism in Europe as a means of Capital preserving its wealth for the few.  Will people accept this, on past history one would suggest not, but what are the alternatives,where is the “left”? While it exists it is weak throughout Europe, this is bad for the working class,as in situations like this the extreme right always comes to the fore,where a vacuum exists in working class politics.Their is no clear leadership on the left most are afraid to raise the need for the overthrow of capitalism at this point.Yet they fall over themselves to pump up the occupy movement,a sideshow when it comes to were the real power is, the working class. Others tailing after the Labour ites, who are cravenly falling over themselves to mop up for Merkozy and co.


It needs the Euro for it to maintain its exports at the low costs it now exports. However its people are not happy with bailing out these reckless countries. Germans have a long memory they do not want to be part of printing money leading to inflation. They remember Germany before the second world war when inflation ran riot through printing money. However Germany needs some form of Europe which would suggest Merkozy s talk of a two tier Europe is a real possibility for them. Will it work no, as Marx said it just paves the way for more destructive crises. Without organized resistance by the working class across Europe we may be facing into a very black period.






Banks/Greece the E.U. and the Euro.

When is a recession  a depression,not until the powers that be decide so. Of course we all know many who have being unemployed for some time and can barely make ends meet. We are also told by the chairman of the E.C.B. that this is the worst crisis of capitalism since the second world. By the chairman of the bank of England that we are in the worst crisis since the great depression.  Their is nothing to worry about say the politicians we are only in a recession and it is the fault of a couple of rogue states “Greece/Ireland/Portugal”if they do what they are told things will get better.

The Banks.

These started the mad dive into buying and selling bonds to do with mortgages and in particular sub prime mortgages. Basically selling to those who could not afford them, but the banks could make big money from these through interest alone, and when they started to wrap these in with other bonds and sell them on,their was even more dosh to be made. Indeed the investment banks went out and bought mortgage companies so as to sell more sub prime to poor people who could not afford them. Billions were made in the U.S. in the 90s up to the Lehman’s crash 2007/8. This after the Bear Stearn’s crash which would have been followed by other investment banks like City Bank,only the U.S government pumped billions of dollars into their banking system  to avoid a crash of world proportions. The government money printing presses went into overdrive to save U.S. capitalism and prevent a world crash.This from a Government who did away with the law which separated investment banking from the high street banking brought in after the great depression  and allowed the high street bankers  to play with the average man/woman’s savings, through their gambling.  With a little help from Chinese and middle eastern companies prevented a meltdown, but as is obvious we are now in groundhog day. However now it is countries who are bankrupt and the future looks bleak for millions of working people.


It started with Greece this present crisis although it can be argued that Greece as it is,is the aborted child of British/U.S cold war politics,like so many of the countries of central America exploited too exhaustion, so the west can live in comfort. From the start racism has played its part, playing the north Europeans against the reckless Mediterranean types. Merkozy  and company now seek to impoverish the Greek working class under terms more like those imposed on the German people at the end of the first world war. Maybe just maybe we may also see the revolutions which followed that.


The groveling Irish,or more to the point the groveling Irish politicians like to play the best pupil in the class, while pushing the most severe cuts ever seen under its own gombeen capitalist class.  Fine Gael with its Labour party blue shirts will do everything in their power to preserve the wealth of those who pull the strings in the background. A little of the Greek resistence to austerity would  give the Irish working class some pride and pull them up off their knees. Enough of complaining about immigration we have the power to change things. Let Kenny and company take orders from “Merkozy” but as is seen from Greece they can be stalled and if the international working class links are made it can be stopped.


In particular Italy with its buffoon Prime minister is in hock to the French and Germany banks for billions. Alongside this it has a massive internal debt. The last summit took place as a means to protect these banks and preserve European capitalism otherwise European history may repeat itself, only worse.

The great plan is to heap more austerity on the Greek working class. While building up a slush fund of 1 trillion euro to shore up failing banks and governments. This is unlikely to be enough,of course where this is to come from is the question. However China is also facing into a slowdown in its economy. Maybe China/Russia will come up with money, but it will come at a price, if it comes at all and it more and more looks unlikely. Already the Italians are finding the markets pile the pressure on them. This would lead to Armageddon for European capital.

This could see a run on the Euro which would definitely see us in a depression whether the politicians say so or not. If you did not know this was serious you will when the U.S./E.U. want to send you off to fight against the Russians/Chinese to preserve western capitalism.

There is an alternative but it requires a party which represents the only class which can change society the working class. We need to build it or pay the consequences. It is all fine to camp outside St Paul’s in London/Wall St/ or central bank Dublin but without linking up working people, with clear demands for the overthrow of capitalism,it is a side show a liberal one at that.

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