It is very hard to predict anything, that's why so many prophets and seers ended up losing their heads. But that does not mean that we should not recognize the potential for things even though predicting the timing of events is difficult if not impossible.
What is certain is that the present economic crisis is far from over. A continued slowdown in the US will also speed up a decline in Asian economies that have been considered a possible savior in the event of recession in the western states. It is hard to determine the global reaction to all of this but we should not be suprised at sudden explosive movements or responses from the working class.
The response from the working class in the US has been muted and class consciousness thrown back due to the role of the labor leaders. Worker's have suffered many defeats and have lost confidence. The militant traditions and socialist history of the US working class has also been buried. But at some point this dam will burst; already, there has been an increased interest in socialist ideas and Marx. This is helped along by experience but also increased mention of Marx and the use of the term socialism in the media.
Most of the people I have talked to in the short time I have been in Aussieland are European youth and they all hate Bush, in fact fear Bush and Bush lite, McCain. They are hoping for an Obama victory as are most of the Australian workers I talk to.
One German guy asked me about Obama this morning and couldn't understand at first when I explained that he and the Democratic Party do not differ on fundementals from the Republicans. If we consider all the money that has been borrowed in the name of the US taxpayer to bail out the bankers it is obvious that the next US administration, no matter who it is, will have to savage the US working class. Obama, it was reported in the paper this morning, is being supported by Ben Bernanke, Paul Volcker and the head of Google, the 59th richest man in America. Does anyone think these people are not going to call the shots?
I have found much more interest in socialist ideas when I talk to workers and youth. This does not mean that they ask where they can "sign up" but the market is not god anymore. This mood will increase as the crisis worsens and will at some point, when coupled with the concrete effects of the crisis, home losses, job losses etc, that will increase (yahoo just said it will lay of thousands and Kerkorian is selling his stake in Ford Motor co.) break in to the open.
Someone posted a comment the other day in response to a post from Sean that there would not be an increased openess to socialist ideas. I would be interested if the poster would explain why he or she thinks this is so.
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