INFLATION SHATTERS US 'BOOM'

THE RAPID inflation that grips the world economy is devastating plans in the United States for stability and economic growth. A special report by the United unprecedented rise in prices across situation is worst in the US, now inflation that has already dashed hopes of controlling the economy.

Prices in America - still the centre of the world capitalist system—are rising faster than in the frantic inflation of the Korean war period. The latest figures show prices are climbing at an annual rate of 9.6 per cent, with food leading at an incredible 30 per cent a year.

Nixon, who rules the country in the interests of American big business, has abandoned his bid to keep inflation down to 2.5 per cent.

Like the Tories in Britain, the American leaders are making the workers pay for the inflationary crisis with laws controlling wages. But in America a big clash is looming.

Union bosses have been forced to drop their support for Nixon after a wave of price demonstrations. George Meany, head of the AFL-CIO (American TUC) has said: 'Go out and get all you can.' This crisis, which comes when Nixon is reeling over the Watergate affair, opens a real opportunity for workers to deal a fatal biow to the corrupt gang in the White House and to build a true Labour Party to represent their interests.

But the world inflation and the position of American labour also have great significance for British workers.

The international character of inflation and price rises exposes as a Tory lie the claim that wages 'cause' inflation.

Inflation is a sickness rooted deep in the economy. It can only be 'cured' by planned Nations shows an the world. But the facing a runaway President Nixon's growth and the abolition of BREAD world-wide speculation in currency, land and commodities.

Every capitalist in every capitalist country wants the worker to pay for of the system.

But, above all, the news from the economi c front is a warning.

It shows that the so-called 'boom' has meant uncontrollable price rises. This will result inevitably in a recession when governments are forced to put on the brakes.

This, in turn, will lead to a collapse of business confidence.

The present crisis proves there is no way to stabilize capitalism as the reformists in the trade unions and the Labour Party would suggest.

Workers will not get boom £100,000 but war. Behind the façade of inflationary growth they are facing the most severe attacks of the century on their rights.

In all their struggles, on jobs, pay or the right to BUILDING organize in unions they clash directly with government policy.

The question of power FUND therefore is posed every day.

Either they remove the Tory government by mass political and industrial action, or their rights will be destroyed. WE ARE in serious difficulties. It looks as if we are bogged down in the vicinity of £9,000. Today's post produced from Socialist Labour League branches-Birkenhead 0.50; Willesden £16; Brixton £11; which brings the total to £9,248.87. We are convinced you want to complete the target bang on time. The first £50,000 by May 31. Now let's give it a big push. Post Party Building Fund, 186a Clapham High