Tag: crisis of capitalism

Africa

Harsh repression as bread riots rock Sudan

Sudanese authorities carried out mass arrests and confiscated newspapers as protests exploded over rising bread prices and severe economic austerity. One student was killed amid demonstrations in Geneina, capital of West Darfur state. Protests were also reported from the cities of Nyala, al-Damazin and the capital Khartoum. The unrest broke out as bakeries doubled the price of bread following a government decision to increase the price of flour nearly fourfold. The decision was part of a package of austerity measures issued under the country's 2018 budget, seeking to address the spiralling inflation rate.

Iran

Iran: uprising against austerity —and clerical rule?

A wave of protests across Iranian cities began as a response to inflation and economic pain, but shows signs of escalating to a popular repudiation of clerical rule. Spontaneous protests first broke out in the northeast city of Mashhad, where security forces responded with tear-gas and water cannons. Since then, protests have been reported from Kermanshah and Hamadan in the west, Rasht and Sari in the north, Ahvaz in the southwest, and Qom and Isfahan in central Iran. Arrests are also reported from the capital, Tehran, where a group of demonstrators attempted to occupy a public square. Protests began with the slogan "Death to high prices!" But as repression mounted, demonstrators began chanting "Death to the dictator," in apparent reference to President Hassan Rouhani and the ruling mullahs. (Photo: Center for Human Rights in Iran)

Iraq

Popular protests rock Iraqi Kurdistan

Thousands took to the streets across Iraq's autonomous Kurdish region  to protest budget cuts and the lack of basic services. At least six were killed as security forces fired on protesting civil servants in Raniya, who have gone without pay for weeks. Demonstrators are demanding the resignation of the Kurdish Regional Government (KRG) administration. Protesters armed with assault rifles attacked the local office of the KRG's ruling Kurdistan Democratic Party (KDP) in Raniya, where a curfew has now been imposed. (Photo: Rudaw)

Southern Cone

Argentina: WTO meet collapses amid labor unrest

The 11th Ministerial Conference of the World Trade Organization was held in Buenos Aires, marked by discord within the venue and angry protests in the streets. Inside, talks collapsed, while outside demonstrators clashed with police. The conference came amid ongoing protests against President Mauricio Macri's proposed legislation to take money from workers' pensions to close Argentina's fiscal deficit.

Planet Watch

Oil prices surge: vindication is tedious

We've been told for the past several years now that the depressed oil prices were permanent, thanks to fracking and the surge in US domestic production. Now prices are rising again, due to a convergence of crises in major producers: escalating tensions among the Gulf states, labor unrest in Nigeria, deepening instability in Venezuela. The US was able to contain the price spike after the ISIS irruption in 2014 by boosting its own production. This trick isn't going to work forever.

The Andes

Venezuela drops petro-dollar: how meaningful?

Venezuela, under growing pressure from US sanctions, has told oil traders that it is dropping petro-dollars for petro-euros and petro-yuans. Despite the instinct to cheer the decline of US world domination, will this make any real difference—either to Venezuela, still dependent on oil exports in a world of depressed prices, or to Planet Earth, facing biosphere collapse as a result of burning hydrocarbons?

The Andes

Venezuela: is the problem really ‘socialism’?

There is an unseemly tone of gloating to conservative commentary on the crisis in Venezuela, with pundits pointing to the current chaos as evidence that "socialism" doesn't work. But a case can be made that, contrary to conservative and mainstream assumptions, the problem is precisely that the Bolivarian Revolution has been insufficiently revolutionary and socialist.

Mexico

Trump risking war with Mexico for useless wall?

Trump's threat to make Mexico pay for the wall with a 20% tariff on all goods coming in from across the border portends—at least—a trade war with the third biggest US trading partner.

Iran

Iran bank drops dollar amid new sanctions

The Central Bank of Iran formally dropped its use of the US dollar as Trump slapped new sanctions on the Islamic Republic in response to its latest missile test.

Mexico

‘Gasolinazo’ protests rock Mexico

Several states across Mexico have been shaken by days of angry protests in response to a jump in the price of gasoline sparked by a new deregulation policy.