Socialist Continuity
1986 1986-09Read it in the scan (PDF at ETOL), page 2 →
Read from the scan by machine and not corrected: expect misread words, and now and then a caption or a line from a neighbouring story. For anything you quote, read the scan.
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The following 50-year veterans of the socialist movement will speak: Cooper, Asher Harer, Ada Farrell, and Milton Alvin Henry Austin, Tiby Marton, Esther Perry, Hayden Perry, Dot Selander, Tiby Marton, Esther Perry, Hayden Perry, Dot Seland Quintero, Former Nicaraguan 1st Secretary to OAS; Walter Johnse Treas. S.F. Labor Council; John Heegard, Hormel Local P-9 striker Also: Sylvia Weinstein, candidate SF Board of Supervisors SOCIALIST ACTION SEPTEMBER 1986 50 Years ligdio ¡ec'ty 8:00 p.m., 255 Ninth St., San Francisco.
The following 50-year veterans will also be honored:
Ted Selander, Alice Snipper, Dave Cooper Special greetings from:
Saturday, August 30, 1986, ILWU Local 6, For more information, call (415) 821-0458 Kwame M.A. Somburu, Sylvia Weinstein. Business Manager: DON MAHONEY Francisco, Calif.
St., No. 308, San Francisco, CA 94110.
checks should be in U.S. dollars.)
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BARUNG BUMPER CROPS SociaList Action FOR SALE • DROPPING LAND VALUES TOST EXPORT MARKETS be sustained, more businesses went bankrupt and more workers were fired-remaining without jobs for a longer period.
Today, on a vastly grander scale, generally uninterrupted world capitalist production has been supported by a mountain of credit, dwarfing the credit expansion that fueled the boom of the 1920s. When the current cycle reaches its limits, the collapse will be accordingly more devastating in its effects.
Unlike the crisis gestating before 1929, private expansion of credit to maintain the capitalist economy has been augmented by over 50 years of deficit gov -ernment spending. The astronomical U.S. national debt, over $2 trillion, continues to grow at an increasing pace. (It doubled in the last five years!)
The U.S. debt is the result of systematic state inter -vention to keep the economic system afloat. When a glut threatens to bring production to a halt, the government borrows money from bankers and pumps it into the economy in a variety of forms-from extending unem -ployment insurance payments to expanding military production.
Spending for guns, missiles, and bombs—in addition to its primary function for U.S. imperialism of main -taining its domination over the world-is the perfect boondoggle for such "countercyclical" expenditures. War materiel has a special virtue in the hands of the capitalists of serving no genuine human need and thus does not compete on the marketplace with useful goods.
War production means higher taxes But this enormous waste of the people's resources must be eventually paid for. Taxes must be raised...from