the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
Aug 31, 2009
Prices on the U.S. stock market seem to have jumped recently–16% in just the last six weeks alone for the Dow Jones Average.
Don’t hold your breath hoping the economic crisis is coming to an end. Almost one-third of all the trades on the exchange have been in the stocks of just five companies.
Who are they? Some of the shakiest financial institutions around–Fannie Mae, Freddie Mac, AIG, Citigroup, and Bank of America. All of them would have gone bankrupt without big bailouts. But short-term traders (read “speculators”) have been bidding their stock prices up, hoping to make another killing before their latest bubble pops!