US growth during the present business cycle is the slowest in any business cycle since World War II.
This US propaganda claim of ‘strong growth’ is in fact the reverse of the facts. The reality is that far from US growth under Trump being ‘strong’ it is in fact the lowest under any US President since World War II!
To mark the 200th anniversary of the birth of Karl Marx on 5 May 1818, Socialist Action is re-publishing below a 1983 article by John Ross about Marx’s writings on England.
By John Ross
It is simply an objective fact that China has made in total the greatest contribution to human well-being of any country – in particular to the most historically oppressed sections of humanity, those therefore of special interest to socialists throughout the world.
The following article by John Ross, setting out the economic forces underpinning the current political crises in the US and Britain, was previously published here by Socialist Economic Bulletin.
Every day the media reports deepening political destabilisation gripping both major ‘Anglo Saxon’ countries – the US and UK. Most important for the world, of course, is US political instability where almost daily crises hit the Trump administration – resignation of the President’s Chief of Staff, sacking of the head of the FBI, public attacks by the President on members of his Cabinet, virulent public and even obscene denunciations by the President’s advisers of each other, numerous Congressional investigations, sensational leaks from inside the national security agencies the FBI and CIA, open campaigns by key mass media such as the New York Times and CNN to remove the President etc. This US domestic political instability is clearly tightly intertwined with crises and developments in world politics – US relations with Russia, US disputes over the Iran nuclear deal, differences over US policy to China etc.
The following article by John Ross, setting out the growth prospects for the US economy, was previously published by Socialist Economic Bulletin.
The latest US economic data confirms the US remains locked in a prolonged period of slow growth with major consequences for geopolitics and destabilising consequences for US domestic politics.