IMF report masks crisis
1970John Crawford Read the scan at ETOL (PDF) →Read from the scan by machine and not corrected: headlines and words can be misread, and a caption or advert can run into the text. For anything you quote, read the scan.
WHEN THE International Monetary Fund annual report says that 'the importance of arresting the US inflationary spiral and restoring price and cost stability can hardly be exaggerated', it is speaking the language of the will fall-especially whether it hits US or European capital hardest.
Profit drop Behind all the paper dealings of the bankers and the investment trusts lies the fall in the rate of profit capital can squeeze from labour power.
Hidden for so long by the apparent strength of the US dollar, this falling tendency looking for tougher now emerges into the open.
It cannot be halted by further manipulation; every delay in the crash only makes it worse.
It must force the ruling class into head-on clashes with the working class, in order to take back the concessions that have been s which secured by trade union action in the boom period.
Soothing noises from the revaluation IMF notwithstanding, the prospect is not just infiation but revolutionary crisis.