Sunday, March 07, 2010


Barrack Obama's election to the US presidency was supported by many American trade unionists, but as unemployment rises much of that support is evaporating.  "Richard Trumka does not mince his words. The former miner now leads America's largest union body, the AFL -CIO, describes George Bush's language as: "stolen elections, ruinous tax cuts for the rich, dishonest wars, financial scandal, government sponsored torture, floodedalism has periodic slumps and booms and governments cities and finally economic collapse." Barrack Obama is a huge improvement, of course, but unemployment is close to 10% and the government must do something, reckons Mr Trumka." (TIME, 13 February) Mr Trumka like many supporters of capitalism thinks by government intervention of $400 billion of what he calls "immediate job-creating investment" the problem of rising unemployment can be solved. He is living in cloud cuckoo land. Capitalism has periodic slumps and booms and governments know that getting the capitalist class to invest during a slump is near impossible. RD

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