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  1. #1
    mensamedlem is offline Newbie
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    Default Please correct my essay

    Economists know that nothing can be done to prevent this kind of crisis. For capital, the crisis is the only way out of the crisis. It has to destroy the gigantic accumulated sums of capital to restore the rate of profit and re-start the accumulation process. The catastrophic process has already started. In the latest Global Financial Stability Report, the IMF estimates that capital of 4.1 trillion US dollars has been lost so far in the financial sector and losses are increasing. This sum, although being huge, represents an infinitesimal part of fictitious (and productive) capital that has to be destroyed, according to the laws of capital accumulation.

    The capitalists themselves had to admit that the current crisis erupted in 2007 with the burst of the US subprime mortgage market bubble and the international credit crunch is not simply cyclical one or conjectural disturbance. It has been the worst crisis since the Wall Street Crash in 1929 and the Great Depression. It has historical dimensions in scope and depth; it affects globally the world economy, while its end is unseen in the horizon.

    It is clear now that it does not affects only the financial sector but the entire capitalist economy dominated by a decades long over-expansion of finance capital invading, interconnecting and controlling all aspects of economic life globally.

    Capitalist nationalizations, "the negation of capitalism within the capitalist system itself", are an extreme action to rescue capital from bankruptcy. Within the framework of the actual social regime, nationalization brings the charges of the crisis on the shoulders of the working people through the increase of the public debt, unemployment, inflation etc. On the other hand, it's an objective manifestation of the process of preparation and transition to the collective property of the producers under the control and management of the direct producers themselves.

    The outright failure of so-called "neoliberalism" (neoconservatism in USA), the economic dogma followed by almost every capitalist government, was epitomized by the dramatic actions taken urgently by the champions of privatizations, of Reaganomics and Thatcherism in the US and UK, themselves.

    The process of increasing state rescue operations started from the nationalization of Northern Rock in Britain in September 2007, of Bear Sterns, one of the "Big Four" investment banks in the United States, in March 2008, and then reached a decisive turning point that precipitated the September-October maelstrom: the nationalization of the twin giants Fanny Mae and Freddie Mac controlling the four fifths of the collapsing US mortgage market, in September 2008.

  2. #2
    Raymott's Avatar
    Raymott is offline VIP Member
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    Default Re: Please correct my essay

    Quote Originally Posted by mensamedlem View Post

    international credit crunch is not simply cyclical one or conjectural disturbance.
    not simply cyclical; or not simply a cyclical one.
    Or a conjectural disturbance.


    it has been [it is] the worst crisis since the wall street crash in 1929 and the great depression. It has historical dimensions in scope and depth; it affects globally the world economy (redundant), while its end is unseen in on the horizon.

    It is clear now that it does not affects not only the

    capitalist nationalizations, "the negation of capitalism within the capitalist system itself", are an extreme action to rescue capital from bankruptcy. Within the framework of the actual social regime, nationalization brings the charges(?) of the crisis on the shoulders of the working people

    by the champions of privatizations,

    the nationalization of the twin giants fanny mae and freddie mac controlling the four fifths of the collapsing us mortgage market, in september 2008.
    r.

  3. #3
    mensamedlem is offline Newbie
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    Default Re: Please correct my essay

    Quote Originally Posted by Raymott View Post
    r.
    Thanks a lot.

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    Default Re: Please correct my essay

    Quote Originally Posted by mensamedlem View Post
    Economists know that nothing can be done to prevent this kind of crisis. For capital, the crisis is the only way out of the crisis. It has to destroy the gigantic accumulated sums of capital to restore the rate of profit and re-start the accumulation process. The catastrophic process has already started. In the latest Global Financial Stability Report, the IMF estimates that capital of 4.1 trillion US dollars has been lost so far in the financial sector and losses are increasing. This sum, although being huge, represents an infinitesimal part of fictitious (and productive) capital that has to be destroyed, according to the laws of capital accumulation.

    The capitalists themselves had to admit that the current crisis erupted in 2007 with the burst of the US subprime mortgage market bubble and the international credit crunch is not simply cyclical one or conjectural disturbance. It has been the worst crisis since the Wall Street Crash in 1929 and the Great Depression. It has historical dimensions in scope and depth; it affects globally the world economy, while its end is unseen in the horizon.

    It is clear now that it does not affects only the financial sector but the entire capitalist economy dominated by a decades long over-expansion of finance capital invading, interconnecting and controlling all aspects of economic life globally.

    Capitalist nationalizations, "the negation of capitalism within the capitalist system itself", are an extreme action to rescue capital from bankruptcy. Within the framework of the actual social regime, nationalization brings the charges of the crisis on the shoulders of the working people through the increase of the public debt, unemployment, inflation etc. On the other hand, it's an objective manifestation of the process of preparation and transition to the collective property of the producers under the control and management of the direct producers themselves.

    The outright failure of so-called "neoliberalism" (neoconservatism in USA), the economic dogma followed by almost every capitalist government, was epitomized by the dramatic actions taken urgently by the champions of privatizations, of Reaganomics and Thatcherism in the US and UK, themselves.

    The process of increasing state rescue operations started from the nationalization of Northern Rock in Britain in September 2007, of Bear Sterns, one of the "Big Four" investment banks in the United States, in March 2008, and then reached a decisive turning point that precipitated the September-October maelstrom: the nationalization of the twin giants Fanny Mae and Freddie Mac controlling the four fifths of the collapsing US mortgage market, in September 2008.

    Alternative energy sources are, I think,
    and there is that direction which will deduce the world from crisis.
    The epoch of oil and gas monopolies will end.
    Last edited by Anglika; 19-Jun-2009 at 10:12.

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