The current situation of the world economy
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The crisis has created the bankruptcy of neo-liberalism in almost all fields. The crisis has once more affirmed the relation between the capital and national affiliation; and shown how unrealistic the understanding is that capital has lost ties with national affiliation. This is shown by every state tries to safe its own capital first of all.  

  1 August 2010 / International Bulletin / No 96

The US housing bubble that collapsed in 2007 had an impact on the world economy through the banks and other financial organisations, and the speculation crisis has started to effect the world economy in form of a bank loan and finally as an overproduction crisis. In the first quarter of 2008 the overproduction crisis exploded in the world economy except the BRIC countries and some ‘developing countries'. The crisis, that first of all mixed up the financial sector and drifted the most important investment banks of the country to bankruptcy, was the reason for a huge decline in production in industrial production.
The world economy (industrial production) generally bottomed out in the 2nd quarter of 2009, in the upcoming period the production experienced a certain revival period; approximately since then is the world economy is experiencing stagnation. We will see in the upcoming period if the wriggling in the industrial production is a sign for the crisis cycle developing towards revival, or if this wriggling is a weak production increase that won't be able to turn the production from stagnation to revival. An increase in the production doesn't mean that the crisis is over. In order to overcome the crisis, the production must reach a higher level of production than before the crisis, and the production in the countries experiencing the crisis are far away from reaching this level. So, the overproduction crisis is continuing.
In order to prevent the crisis and limit its destruction the G-7, G-20 and European countries came together, but their meetings had no results. These meetings could actually be called meetings to lead the crisis. The countries that every time before their meetings mention how important it is to act internationally together might also have talked afterwards about the steps they have to undertake to save their own capital. The crisis has made the contradictions between the countries reach its peak so that acting together isn't possible. Finally, many countries, including first of all the USA, have started to apply the fostering packets prepared to support the economy. The amount of such expenses the states had so far all over the world is about 27 trillion $US. This amount is nearly like half of the world production, and it is the working class and labourer masses that are made paying for this. So, the crisis' affect is made socialized.
These expenses were the reason for big deficits in the balance of payments and the state debts reaching an outstanding level. Because of the public debts the economical crisis is now continuing in form of an indebtedness crisis in some countries.
The crisis has also affected the Turkish economy. Although the prime minister had said that "the crisis won't affect us at all", the crisis had an impact on the economy in Turkey. In 2009, the industrial production decreased absolutely by 9, 6%. The crisis in Turkey didn't break out in the financial sector; neither did a bank collapse or had problems to pay, and there were also no problems with credits, money or indebtedness. The crisis directly exploded in the production of tangible value, in the industry.
The facts the crisis revealed are full of invaluable lessons:
In capitalism, not the stock exchange crisis, the speculation and financial crisis in generally are lawful, but only and only the overproduction crisis have a lawful character; they result from the inner contradictions of capitalism and are periodical.
During the period of the crisis the bourgeois political economy's bankruptcy has once more been revealed; the economic crisis has shown its misery in the economical, political, social and ideological fields of the imperialist bourgeoisie.
From the point of view of the development of the way of capitalist production as well as from the crisis theory as well as point of view of the class struggle, there are many lessons that need to be understood. It has become clear that the expectations of those believing in capitalism collapsing from its own and those hoping that the working class will start to rebel from its own are nothing else than dreams.
The crisis has created the bankruptcy of neo-liberalism in almost all fields. The crisis has once more affirmed the relation between the capital and national affiliation; and shown how unrealistic the understanding is that capital has lost ties with national affiliation. This is shown by every state tries to safe its own capital first of all.
The crisis has impeded the level of internationalizing of capital and production; during the period of the crisis the capital has withdrawn to the "national ports".
The crisis has also shown that the world economy lost its national characteristics and hasn't united, that the world economy consists of the entirety of the single country economies and that the contradictions between the capitals and imperialist countries are sharpened.
During the period of the crisis, a degradation of the fixed capital has been realized unbelievable levels and especially in form of means of production.
It has become clear that the understanding that during the period of crisis class struggle will definitely and automatically come to a head and that the working class and labourer masses is voluntarism. There are many reasons why the opportunities to struggle offered by the crisis aren't used; the lack of communist parties that could lead the struggle or their weakness; unions following a political line of conciliation and finally the impact of the state's "stick and carrot" policy.
 

 

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The current situation of the world economy
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The crisis has created the bankruptcy of neo-liberalism in almost all fields. The crisis has once more affirmed the relation between the capital and national affiliation; and shown how unrealistic the understanding is that capital has lost ties with national affiliation. This is shown by every state tries to safe its own capital first of all.  

  1 August 2010 / International Bulletin / No 96

The US housing bubble that collapsed in 2007 had an impact on the world economy through the banks and other financial organisations, and the speculation crisis has started to effect the world economy in form of a bank loan and finally as an overproduction crisis. In the first quarter of 2008 the overproduction crisis exploded in the world economy except the BRIC countries and some ‘developing countries'. The crisis, that first of all mixed up the financial sector and drifted the most important investment banks of the country to bankruptcy, was the reason for a huge decline in production in industrial production.
The world economy (industrial production) generally bottomed out in the 2nd quarter of 2009, in the upcoming period the production experienced a certain revival period; approximately since then is the world economy is experiencing stagnation. We will see in the upcoming period if the wriggling in the industrial production is a sign for the crisis cycle developing towards revival, or if this wriggling is a weak production increase that won't be able to turn the production from stagnation to revival. An increase in the production doesn't mean that the crisis is over. In order to overcome the crisis, the production must reach a higher level of production than before the crisis, and the production in the countries experiencing the crisis are far away from reaching this level. So, the overproduction crisis is continuing.
In order to prevent the crisis and limit its destruction the G-7, G-20 and European countries came together, but their meetings had no results. These meetings could actually be called meetings to lead the crisis. The countries that every time before their meetings mention how important it is to act internationally together might also have talked afterwards about the steps they have to undertake to save their own capital. The crisis has made the contradictions between the countries reach its peak so that acting together isn't possible. Finally, many countries, including first of all the USA, have started to apply the fostering packets prepared to support the economy. The amount of such expenses the states had so far all over the world is about 27 trillion $US. This amount is nearly like half of the world production, and it is the working class and labourer masses that are made paying for this. So, the crisis' affect is made socialized.
These expenses were the reason for big deficits in the balance of payments and the state debts reaching an outstanding level. Because of the public debts the economical crisis is now continuing in form of an indebtedness crisis in some countries.
The crisis has also affected the Turkish economy. Although the prime minister had said that "the crisis won't affect us at all", the crisis had an impact on the economy in Turkey. In 2009, the industrial production decreased absolutely by 9, 6%. The crisis in Turkey didn't break out in the financial sector; neither did a bank collapse or had problems to pay, and there were also no problems with credits, money or indebtedness. The crisis directly exploded in the production of tangible value, in the industry.
The facts the crisis revealed are full of invaluable lessons:
In capitalism, not the stock exchange crisis, the speculation and financial crisis in generally are lawful, but only and only the overproduction crisis have a lawful character; they result from the inner contradictions of capitalism and are periodical.
During the period of the crisis the bourgeois political economy's bankruptcy has once more been revealed; the economic crisis has shown its misery in the economical, political, social and ideological fields of the imperialist bourgeoisie.
From the point of view of the development of the way of capitalist production as well as from the crisis theory as well as point of view of the class struggle, there are many lessons that need to be understood. It has become clear that the expectations of those believing in capitalism collapsing from its own and those hoping that the working class will start to rebel from its own are nothing else than dreams.
The crisis has created the bankruptcy of neo-liberalism in almost all fields. The crisis has once more affirmed the relation between the capital and national affiliation; and shown how unrealistic the understanding is that capital has lost ties with national affiliation. This is shown by every state tries to safe its own capital first of all.
The crisis has impeded the level of internationalizing of capital and production; during the period of the crisis the capital has withdrawn to the "national ports".
The crisis has also shown that the world economy lost its national characteristics and hasn't united, that the world economy consists of the entirety of the single country economies and that the contradictions between the capitals and imperialist countries are sharpened.
During the period of the crisis, a degradation of the fixed capital has been realized unbelievable levels and especially in form of means of production.
It has become clear that the understanding that during the period of crisis class struggle will definitely and automatically come to a head and that the working class and labourer masses is voluntarism. There are many reasons why the opportunities to struggle offered by the crisis aren't used; the lack of communist parties that could lead the struggle or their weakness; unions following a political line of conciliation and finally the impact of the state's "stick and carrot" policy.