[act-ma] 6/8 Capitalism's Economic Crisis

Boston Militant Labor Forum bostonmlf at yahoo.com
Tue Jun 5 18:27:28 PDT 2007

The Militant Labor Forum presents:  Capitalism’s
Economic Crisis:  Wage cuts, debt squeeze, cuts in
social services. What road forward for working people?
  Speaker: Betsy Farley, Socialist Workers Party
candidate for Boston City Council, District 1
  Friday, June 8 - Dinner 6:30 PM, Program 7:30 PM 
Militant Labor Forum Hall  13 Bennington Street, 2nd
Floor, East Boston
      The cover story in the May 21 issue of
BusinessWeek highlighted the surge of companies
offering high-interest credit to some of the
lowest-paid workers, driving them deeper into debt.
These capitalists are raking in huge profits by
pushing millions of the most exploited to the wall. 
  This is part of a broader picture in which real
wages for working people in the United States have
declined over the past three decades, while their
indebtedness has risen. This is the result of the
employers’ drive—under the whip of ruthless
competition among themselves— to increase profits by
pushing down wages, slashing medical and pension
coverage, and making us work faster, longer hours, and
more unsafely. 
  The BusinessWeek article cited defenders of what the
magazine called “U.S. companies’ audacious drive to
extract more profits from the nation’s working poor.”
Voices in big-business circles, however, have
expressed concern that the rapid growth of “subprime
lending”—also a factor in the rise in home loan
defaults—will hasten a financial crisis for U.S.
capitalism. Some also warn that it will increase class
tensions and eventually risk social explosions as
workers’ living standards are pushed down.
      Come discuss this latest development in the
unfolding crisis of capitalism and how working people
can fight effectively to defend their class interests
and those of all toilers against its effects.

    Suggested donation: $5 dinner, $5 program

  For more information call 617-569-9169 or e-mail
bostonmlf at yahoo.com  Traducción inglés-español /

  T Blue Line to Maverick Station, bus or walk 5
blocks down Meridian to Bennington at Liberty Plaza
  Visit themilitant.com and pathfinderpress.com
websites for news, analysis, books, and pamphlets.

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