A new stage in the global crisis

[World Socialist Website]

Friday’s devastating US jobs report, which showed payroll growth at half the level that had been expected, capped a week of dismal economic news from every part of the world.

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[Dhalgren]

Obama reiterated his demand for the passage of his jobs “to-do list”—a series of corporate handouts. In introducing the proposal last month, Obama went so far as to brag that the period of his administration was “the only time that government employment has gone down during a recession.”

This response is common to every country: no policy that in any way impinges on the most selfish financial interests of the ruling class can even be proposed. As millions face unemployment and poverty, discussions in both parties focus on how to cut taxes for business while slashing social services.

(My bolding)

There is an aura of disorientation among the ruling class in the face of this new disaster, as reflected in press commentary on the jobs report. “I see no reason for confidence in the capacity for policymakers to grasp what is developing,” wrote commentator Doug Noland in his web-based Credit Bubble Bulletin. “I am confident that what is unfolding has the potential to be more problematic than 2008,” he added.

When these Trots can stop the stupid sectarian shit, they can produce some good stuff.

There is no one in any position of power who can even contemplate any real remedy for the current crisis. Of course there can be no "cure", but there could be amelioration - and in that regard there are only *crickets*...

It beginning to look like the best we can hope for is Thunderdome...