From the USA, European Union and our own national governments, they have been saying that nothing needs to be done by governments it’s all down to the market to solve humanity’s needs. The global economy has a GDP of $150 trillion and a total of $220 trillion in financial assets and yet is on the edge of a financial vortex, facing stagnation and $150tn of debt and an economic depression possibly equal to the great depression of the 1930’s.
The neo-liberal and neo-conservative project which started in 1979 and 1980 with Margaret Thatcher and Ronald Reagan has run its course and proved to be a failure for the mass of humanity whilst a few have made a fortune an speculative investment on the global financial markets and from the privatization of state assets such as water, gas, electricity, railways and health care.
In Britain the Tory/Liberal government is set on going further along the road following the same policies that Thatcher, Major, Blair and Brown pursued for the last thirty years, of cutting public spending and privatization. In 2008 Gordon Brown averted a total meltdown of the global financial system leading the way with the bank bailouts and quantitative easing to stimulate global economy.
It’s now up to the millions of people in Britain and the other states of the European Union to unite against the capitalist elite and demand an alternative economic and political strategy that acts in the interests of the mass of the people rather than the interests of an elite minority. There is an opportunity now for the political parties of the broad left to turn this crisis of global finance capital into the final stage of the neo-liberal/neo-conservative project and the first stage in the socialist economic and political project of the 21st century.