Greenspan, socialism and Chicago's sheriff.

Alan Greenspan was head of the Federal reserve for years. In that position he was capitalism's bag man. By manipulating interest rates he also saw to it that unemployment remained at a high enough level to weaken the working class's struggle for higher wages and better conditions.  He was also the person most responsible for the housing bubble in the US and the subsequent crash which we are now experiencing. During all this time he was adamant that there was no alternative to capitalism. He is talking out of the other side of his mouth now. 

Here is what he said at a recent conference he was addressing at Georgetown.  He said: "The present financial crisis will mean a return to the ideological struggle between socialism and capitalism. Many of us thought that struggle was over with the collapse of the command economies but this is not the case." 

Not everybody thought this struggle was over. We socialists knew that the crisis of capitalism would put the issue of socialism back on the agenda again. We should recognize that Greenspan is confirming our view. We should also draw political and organizational conclusions. We should put forward our socialist views and alternative in a more bold and audacious fashion and in our struggle we should explain that the socialist alternative is the only way. 

In todays Chicago Tribune the word socialism is mentioned twice in the letters page. And the front page headline is: Sheriff: I will stop enforcing evictions." We have truly moved into a new period in the US and internationally. Sean