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Archive | August, 2015

The Devaluation of the Yuan

The Chinese central bank’s decision last week to let the yuan depreciate, in three stages by almost 4 percent against the US dollar, was officially explained as a move towards greater market determination of its exchange rate.  Though this explanation pacified stock markets around the world, China’s devaluation of the currency portends a serious accentuation […]

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Courts Dismiss Claim That Amnesties Trigger Migration

On August 14 a federal appeals court dismissed as “speculation” one of the most persistent of the anti-immigrant right’s many fantasies: the claim that any sort of humane treatment of undocumented immigrants by the U.S. government will lead inevitably to a “flood” of foreigners pouring over our borders. At issue was a suit in which […]

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The Opening of the New Suez Canal

On the 6th of August, the waterway that doubles the Suez Canal will be inaugurated. Egypt will have demonstrated that it is capable of conceiving and executing a grand project of this magnitude on its own . . . like China (I will get back to this comparison).  Just a year ago, when the Egyptian […]

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The Liberals and Inequality, Then and Now

Articles on income equality sometimes note that the U.S. economy hasn’t faced the current level of disparity since 1928, on the eve of the Great Depression.  There has been much less discussion of the responses to the issue back then, even though income inequality was a major concern for policymakers as the Depression deepened and […]

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Europe’s Moment of Truth

Greek Premier Alexis Tsipras’ acceptance of an “austerity package” on July 13, which contained measures rejected by the Greek people in a referendum barely a week before, represents not just an abject surrender by the Syriza government, or a sign of contempt on the part of German finance capital for the Greek electorate; it marks […]

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What Would the KKE Do If It Were in SYRIZA’s Place?

We often hear the following, well-intentioned question: “What would you have done if you had been in the place of the SYRIZA government?” The question is not illogical.  But we must put it in the right perspective. If we, the KKE, were in the “place” of SYRIZA, meaning the place of bourgeois management, the place […]

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German Know-Nothings Today

“I don’t know.”  Those words, often repeated 160-odd years ago in the USA, earned the gang of those using them the nickname “Know-Nothing Party.”  Those were no expressions of intellectual modesty; party doings were secret, so members were not supposed to disclose anything about them, but just say, “I don’t know.”   Their patriotic title was […]

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