What to write great booksWhen no one read them?The present-day rogue are only able to deny."Faust" by Johann Wolfgang von GoetheAt this point in time is so much slander about the global financial crisis that seems to say and something new is impossible. But,
characteristically, for the majority of publications and speeches on
the subject - is the true causes of the superficiality of supply crisis
and its perpetrators. And hence all possible looting in the area of production and public relations, which is issued as a result of the crisis.Budget
slashed - the crisis, the plant is closed - the crisis, workers' wages
slashed - the crisis, schools and hospitals are no longer fund - the
crisis, the price of utilities increasing - crisis and so on.
So what caused such a tremendous financial crisis?
As is well known global financial crisis, has been developed for the U.S. mortgage crisis, but that does not mean that it is the true cause of global turmoil. And the reason the burst of the crisis lies in the very nature of capitalist relations, and this is clear and understandable, wrote in his famous "Capital" by Karl Marx. Who studied in Soviet times, he should know, though, may not attach any importance to this.When Marx spoke of the limitations of capitalist production, is clearly pointed out that the contradiction between capital and labor put an end to the capitalist mode of production, but not fanatical revolutionaries, as it was presented to the people.The essence of this contradiction lies in the fact that capital is endless strive for profit, he can get only through the exploitation of living labor, and in this pursuit of capital owner wants to have cheap labor. But he needed not only to wage earners, especially as wage earners of the other owners of capital are potential consumers of its products. After all, if there is no consumption, no sales, then stop, and manufacturing. So it turns out that capital, on the one hand, tends to have workers' wages were small, on the other - that they consume as much as possible.If we look at the history of the last three centuries, we see that it is capital in pursuit of markets for actively mastering the world, entering into competition with other capitals and countries, and occasionally unleashing a war and all sorts. But now, more than fifty years as the world is divided into capital and have to find other ways to its growth, without changing the essence of industrial relations. And he finds them!One way to smooth this contradiction is the loan. Loan capital as an attempt to profit today based on future production, when the salary of the worker is low, that is, allows capital to get enough profit, but this consumes much more work.Only in this case, the contradiction is not overcome, but only pushed for time, until exhausted resource future wage employees. Resources have been exhausted, as the man with a salary of $ 1,000 can not gain credit for one hundred million, and even more so in unstable conditions of capitalist production. That's the crisis erupted.
Why he began his march from the U.S. financial crisis and why, are not difficult to understand.
The financial crisis - this is an inevitable manifestation of the dominance of the financial oligarchy, which originated on the basis of concentration of capital. The concentration of capital, when the larger capitalist sharks absorb the small ones, this is one of the laws of existence of the capital, leading him to the slaughter. And as in the past 100 years the world has watched the growth of American financial power, then the crisis began in this country.
The American financial system has long been considered one of the most free in terms of state supervision. American financial institutions have flourished, generating record profits at the expense of the housing boom and release of various derivatives.Almost unrestricted freedom in the financial markets has resulted in a huge overhang of derivatives - the derivative securities, the total amount of which amounted to more than 500 trillion, ten times the total world GDP in 2008, and at times - the value of all real assets in the world . Although the derivatives for a long time helping credit institutions rich, they also have caused the fall of some of them.But thou shalt not eat derivatives, of which you can not build a house instead of a jacket and not dress, but because all these derivatives, giving huge profits to financial speculators, should be based on actual production. And as in the actual production fails, the borrower could no longer borrow and pay interest, all of these derivatives fell like autumn leaves.Accelerated the crisis by the fact that American banks have introduced floating interest rates on loans, ie interest rates on loans varied independently of the original agreement. First, the borrower lure cheap credit, and then raised the percentage of the borrower and squeezed all the "juice" without thinking about consequences. And they came! And came the surprise of many. Began the decline in production, decline in living standards and poverty of the masses, plant closures, cuts in social security and so on.This phenomenon occurred not only in America but took almost the whole world, as the U.S. economy is one of the most powerful, and participants in the global market enjoyed dollar as the unit of account, as the world currency.His role in the development of the financial crisis as a global phenomenon and has played the U.S. Federal Reserve, acting as a global emission center.Use dollars and Russian banks, industrialists and citizens. And not just enjoyed, and most of the revenue from the sale of hydrocarbons invested in American securities, which erupted as a result of the crisis were to turn into a plain paper.Leadership of the country started its campaign to restore its reputation and criticism of the U.S. financial system, the fault which has occurred and the global financial crisis.Yes, I agree we are: the fault of the U.S. financial oligarchs. But who is pushing you serve them, who made the export to the U.S. from the sale of hydrocarbon resources, who are forced to destroy his own producer, in order to make enormous profits on the resale of imported goods? No one, except for greed at any cost, even at the expense of millions of Russian citizens from drunken despair, millions of young people adopted the path of addiction, in view of prospects, millions of sick and disabled who have died from lack of medicines.Who forced them to curtail domestic consumer market and replacing it with imported goods for a small group of primary income and monopoly of the financial oligarchy. When they are selling the hydrocarbons, immediately bought imported goods (pharmaceuticals, industrial goods, agricultural), and their importation into the country receiving the profit.
For quick sales of imported goods as they are destroyed by excessive taxes and expensive loans, domestic producer. This phenomenon also has an explanation, which fits into the history of the party, but in this case I will not touch this particular topic, so as not to overload the reader.It should be noted: that the system of government, which are adjusted for windfall profits financial-industrial groups and has led to such severe consequences of the crisis in the country.Decline in production, the effects of the crisis in Russia has been one of the most significant.Production and domestic consumption was breathing its last, if I may say so, and when the crisis erupted in the U.S., in Russia just started a hurricane.We can say that the situation has developed in the empire, which is described in Goethe's "Faust":Came to an end the union contributionsAnd no money pumpNow the Treasury is not to pumpDried up tributary capitation feesWe have that city, and donors,And svoevolnichaet know.Now in possession of any princessesHosts are new generation.Rulers do not tie the hands of we,Another handed out so many benefits.Of the parties as if they were not invited,Props we create.We are as alien to their sorrow,As we and our needs to them.Who now caresYou Guelph or you Ghibellines?Charity begins at home,All for ourselves, everyone sir.We all desire to become wealthier,On all the doors lock suspension,But empty in our chest.(Guelphs and Ghibellines - supporters of the papacy and the imperial authority in medieval Italy.)
But today, it is important not only to determine the true reasons, but also to find ways to overcome the devastating crisis, the ravages of the financial oligarchy, creating unbearable living conditions. And that was just what, exactly, we do not hear from our government and president.Government anti-crisis plan aimed at bailing out banks and the profits of financial-industrial groups, but not to restore the country's industrial potential. What, incidentally, is very distinctive on the measures taken by the same Americans or Chinese.
As I said, the reason for the U.S. financial crisis has in no way limited freedom in the financial markets on release in treatment of various derivatives, which led to the creation of the huge overhang of derivatives - the derivative securities, amounting to more than 500 trillion.All this is a manifestation of the domination of finance capital, leading to the collapse of the entire system of capitalist relations, when the actual production is destroyed for the sake of the profits of the financial oligarchy. The unfolding financial crisis, when only a year more than a bankrupt U.S. banks that made the U.S. administration to take stringent measures to curb the arbitrariness of financial institutions, and President Barack Obama has called for tougher financial controls in the United States.U.S. President Barack Obama in his address to the nation called on Congress to approve the changes in the American system of financial regulation. He stated the need to introduce more stringent measures to regulate the economy and financial markets - not only in the U.S., but around the world to prevent the recurrence of past mistakes.
The massive collapse of banks has caused anger on the part of the American public and the media, who accused the bankers of irresponsibility, greed, and sometimes in criminal acts. Summing up all the changes proposed by the U.S. administration, we can say that the U.S. financial sector regulation will be much greater than before the crisis. Almost certainly, this means that the former gains the financiers can not see the U.S. as their ears.
The unfolding crisis in the United States shook the world economy, while Russia suffered the most severe consequences. The question naturally arises: why do Americans have a crisis, and we have a drop in production at several tens of percent? After China, which supplied the lion's share of the U.S. market goods, got just lower output growth, rather than falling.
In 2009, the growth of the Chinese economy grew by 8.7%, and even last year reached the same level of growth, and in 2010, according to IMF data, China's economic growth rate of 10%. What explains "Chinese miracle" of such a rapid and triumphant exit from the crisis?It's no secret that support for China's economy has a government program for stimulating the growth of 4 trillion yuan ($ 585 billion), as well as a record increase in lending, and not under any such interest, as in Russia. The volume of capital investment by Chinese companies increased by 33.5% in the first half against the background of a record volume of loans, which formed during this period are $ 1.1 trillion. However, many believe that current levels of the Chinese economy - is not the limit, and are waiting for exciting new data.According to the forecast deputy director of the Research Centre for the Development of the State Council Shusuna Ba, China will become the first country recovered from the recession, China's GDP growth in 2009 will be 8% in first quarter of 2010 could exceed 10%. The Chinese authorities intend to maintain measures to support the economy. "Thanks to the timely implementation of the package of anti-crisis measures failed to achieve economic growth, strengthening domestic demand for goods, increase income," - said at the October meeting, members of the Standing Committee of the State Council.These measures took the U.S. government and China, but what made the leaders of Russia, in order to support the domestic economy? And the Russian government is apparently looking to overseas friends, allocated huge resources to banks, but this result was different. Bankers money, of course, have taken, but to the real economy they have never reached. How did it! Began to resent all who hoped for a slightly different result. But why should it be different? Indeed, before the financial crisis, Russian banks were removed from the country's economic gains the lion's share, but why now they act differently and will no longer assign most of the funds allocated by the state to overcome the crisis? The President, the State Duma and the Government have refused to carry out the nationalization of the banking sector, and move to direct funding of industrial enterprises are faced with an outflow of capital and underfunding of the industry. It turned out that the banks are, and credit-financial system does not.The head of the Central Bank Sergei Ignatyev, not wanting to bear responsibility for all, said that part of the allocated state funds to support the financial sector, commercial banks converted into the currency and placed in foreign banks. Capital flight from Russia in October amounted to only $ 50 billionThe situation with the lending industry and Sergei Ivanov said. "A number of companies" defense "are experiencing an acute shortage of working capital to ensure the finished product, transfer it to the customer.The banking sector tends not only to maintain its stability, which is understandable, but also a significant benefit at the expense of industry. It is completely incomprehensible, and in any gate not climbing.Many banks are aggressively trying to change the basic conditions already signed loan agreements to raise rates from 9-12% to 15-18%, "- said Ivanov.The situation is so critical that Prime Minister Vladimir Putin assembled bankers and threatened them with checks by law enforcement agencies, if the money will continue to flee the country. Do not stay on the sidelines and the President.
"Banks should not profit from the loans, the Russian President said and instructed the Central Bank to monitor the fairness margins of banks." At a meeting with the leadership of the Chamber of Commerce (CCI) Dmitry Medvedev repeated the words of Prime Minister Vladimir Putin that now, during the liquidity crisis, banks are expected to behave primarily as "gosagenty" and aimed at, as to saturate Money smaller financial institutions and enterprises of real sector of the economy. And forget for a time the main goal of any business - profit. "Rejecting that banks acted as government bodies in shape, Dmitry Medvedev, offered to private banks to become so in essence, pressing on morality and responsibility. And to the need for compliance with moral norms, ie "Fair" margin, beyond doubt, the President proposed an ad hoc tsentrobankovskih "commissars."According to Medvedev, "fair" credit rate shall be determined by the formula of "inflation plus margin" (ie, the percentage of the official Consumer Price Index plus a percentage of "fair" profit). And "see to it that this margin banking, bank fees for the relevant banking operation was sound - the case of control organizations, reminded Dmitry Medvedev. Otherwise, President Medvedev has threatened to cut the chain of passing money through a credit system. Law enforcement and supervisory authorities of the Russian Federation did not take long to wait, and agreed on joint action to tighten controls over the spending of budget funds allocated to overcome the effects of the global financial crisis. Meeting of the interdepartmental working group on combating violations in the sphere of the economy with representatives from the Interior Ministry, the FSB, the Federal Tax Service, Federal Financial Monitoring Service, the Central Bank and the Federal Financial Markets Service was held Tuesday at the General Prosecutor's Office. The meeting participants adopted an action program to ensure the safety of budget funds allocated for the strengthening of financial and other sectors of the economy.As we see, instead of simple, effective and understandable to the people of measures to nationalize banking, been told a lot of terrible words and exhortations, but because all the while going on as in the fable, where the cat Vaska listens but eats. And eating, as seen from the messages that CAT is not enough. According to CB, profit of 30 largest credit institutions in the first quarter of 2010 increased by half compared to the same period last year - up to 82 billion rubles. The annual profit of 30 largest banks on April 1 962 000 000 000 515 519 000 rubles, said the central bank.This is only a 1.4% increase that was the year before (949 000 000 000 181 109 000 rubles). But while the first three months of 2010, earnings top thirty was twice over the same period in 2009: 82 billion rubles against 39.7 billion rubles.All Russian banks were for the first quarter of 116.7 billion rubles of net profit. It is interesting that the volume of lending continues to fall (on April 1st credit debt amounted to 14.955 trillion rubles, while the previous year was 15.805 trillion rubles), and arrears on previous loans and other placements in the same period has almost doubled - to 752.62 billion rubles to 463 billion rubles. In recent months, the banking sector can be divided into two main trends - the decline in assets of credit institutions and increase bank profits, experts say. "The decline in assets is justified some reduction in lending, as well as a significant reduction in the volume of cash, precious metals and stones (by 25.48% to 408 billion rubles).A rise in earnings is due primarily slight increase to customers, increase revenue bonds and notes and an annual increase in interest income of banks ", - analyst IK" Finam "Konstantin Romanov.
That's the paradoxical situation in the banking sector - loans stagnate, profits grow! This economy in Russia!Successfully overcome the crisis and the Russian oligarchs, who were able to double his annual state of up to $ 297 billion, estimates the Russian Forbes. Themselves as billionaires has twice as many - 62. The only one who had to disentangle effects of the crisis - it's just the Russian workers, all of which proved to be without means of livelihood, so as to consider unemployment compensation funds for life is difficult. Yes, and those who continue to work are forced to tighten their belts tighter and tighter, so as greatly increased utility bills, food prices, and wages also declined, due to uncontrolled inflation and invincible.
At the same time the Russians are spending almost half their salaries to buy food, as evidenced by data from a survey by the Levada Center. This suggests that Russia - a country poor, and assumptions about the situation yet.Almost half of their monthly income Russians spend on food, leads the "Interfax" information nationwide survey by the Levada Center, conducted from 16 to 19 April. Dlyasravneniya: in the crisis year of 2009 it took less than - 36% of salary. Now, based on survey data, to buy food 23% of Russians are spending two-thirds of earnings, 20% - slightly less than half, 10% - all the money.The fact that a large part of the salary goes for food, evidence of low incomes of the least affluent.In fact, the share of expenditures in the family budget on food - an indicator of poverty. This figure is in contrast to the official statistics can not be deceived: it is the most versatile and the ultimate indicator of poverty. Here at once inflation and food prices, and wages. And it is not surprising that in response to the crisis, this share has increased. If citizens, spending on food half earnings in the country for more than 50%, we can say that the country is poor. Meanwhile, in developed countries, families spend on food at about 20-25% of monthly income. In some countries the figures are even better: in England, for example, is spent on food 11% of household income in France - 14%.It does not take rocket scientist seven and ten degrees, to realize that low labor costs and allows the financial oligarchy, raw magnates and their serving bureaucracy and get a fabulous profit. And the working class has something to achieve, the Bole that the passive consent of employees to work for little pay is leading the country to death and it's not an exaggeration. Indeed, the low cost of labor and capital is pushing the country to a dead end - cut in wages as the sole source of increasing profit. This also contributes to the uncontrolled influx of migrants and that the first phase of the capital increase revenues, but is ultimately destroyed, industry, economy and country. Only the high cost of labor to the world markets, forced the captain, but a necessity and is the driving force of development, increase productivity, adopt new technologies and machines. Recently received widespread slogan: "Decent pay for decent work." With this slogan are the union leaders, this slogan sounded and the Congress of "United Russia". The new owners pronounce this sentence of life with profound views, relying on the recognition and understanding.That's just in that very slogan is nothing new, but a rehash of old, worn European politicians still in the nineteenth century, the slogan "Fair wages for a fair day," which still Engels offered to bury forever. But as we see, this slogan has found a second life in newly-made mouth of the Russian bourgeoisie. That's what I wrote on this subject Engels: "The fair wage for a fair day? But what is a fair wage and that such a fair day? How are they to those laws under which he lives and is developing a modern society? To answer this question we must look not to the science of Siberian deer or the right not to sentiment of humanity, justice, or even charity. What is true in terms of morality or law, may be far from fair in social terms. Social justice or injustice are determined only one science, namely, the science that deals with the material facts of production and exchange - the science of political economy ... but greatly beloved, understand the cause of a little deeper. Since, according to political economy, wages and working day determined by the competition, justice obviously requires that both parties were from the beginning placed in the same conditions. But this is something and there really is. If the capitalist has not agreed with the workers, then he can wait, living on his capital. Desktop can not. In addition to salary, he can not live on that, and so he is forced to take the job if there on the terms on which he can get it. Working from the very beginning is in the adverse conditions of the struggle. Hunger puts him in terrible disadvantage. Meanwhile, according to the political economy of the capitalist class, that's the top and is justice.But this is utter nonsense. Distribution of mechanical power and machinery for new industries as well as dissemination and improvement of machines in those industries, where they were applied, deprived of more and more "hands", and it is much faster than those displaced by the "hand" may be engrossed and to find employment in factories of the country. These superseded "hands" form a true industrial reserve army, which uses capital. If things are bad in the industry, they may die of hunger, beg, steal or go to the workhouse, if things are good in the industry, they are always on hand to expand production, and as long as the last of the men, women or children, components of this reserve army, can not find work - which happens only during periods of frantic over-production, until the reserve army of the competition will lower wages, and one has its existence will be strengthened by capital in its struggle against labor. In competition with the capital labor not only put at a disadvantage, but he still has to drag his leg chained to the iron core. However, according to the capitalist political economy, this is true.But find out from the same fund pays a capital so that a fair wage. Of capital, of course. But capital does not produce value. Labor is the only source of wealth, capital itself is nothing, as the accumulated product of labor. Thus, the fee shall be paid for work of the same work, and work paid for out of their own product. According to what we might call ordinary justice, workers' wages should correspond to the product of his labor. But according to political economy, it would not be fair. On the contrary, the product goes to the worker's labor to the capitalist and the worker gets out of it no more than what is absolutely necessary for life. Thus, the result is an unusually "fair" competition is the fact that the product of labor of those who work, inevitably accumulates in the hands of those who do not work, and it becomes in their hands a powerful instrument of enslavement of the very people who made it.Fair wages for a fair day!Much can be said about just working day, the validity of which to a tee is the same as justice and wages. But it should be postponed until another time. From what has been said, it is clear that the old slogan has outlived its time and is unlikely to fit into our time. The validity of political economy, since the latter is true formulates laws that govern today's society, that justice is entirely on one side - on the side of capital. So, bury forever the old slogan and replace it with another:TOOLS OF LABOR - raw materials, factories, machines - In possession of the workers! "So he taught business associate of Marx's revolutionary and successful businessman Friedrich Engels. And today, estimating experience, past reforms have to say - the State - in the possession of the workers. And it can only really, not in words, to ensure fair wages and the progressive development of society.Vitaly Glukhov
So what caused such a tremendous financial crisis?
As is well known global financial crisis, has been developed for the U.S. mortgage crisis, but that does not mean that it is the true cause of global turmoil. And the reason the burst of the crisis lies in the very nature of capitalist relations, and this is clear and understandable, wrote in his famous "Capital" by Karl Marx. Who studied in Soviet times, he should know, though, may not attach any importance to this.When Marx spoke of the limitations of capitalist production, is clearly pointed out that the contradiction between capital and labor put an end to the capitalist mode of production, but not fanatical revolutionaries, as it was presented to the people.The essence of this contradiction lies in the fact that capital is endless strive for profit, he can get only through the exploitation of living labor, and in this pursuit of capital owner wants to have cheap labor. But he needed not only to wage earners, especially as wage earners of the other owners of capital are potential consumers of its products. After all, if there is no consumption, no sales, then stop, and manufacturing. So it turns out that capital, on the one hand, tends to have workers' wages were small, on the other - that they consume as much as possible.If we look at the history of the last three centuries, we see that it is capital in pursuit of markets for actively mastering the world, entering into competition with other capitals and countries, and occasionally unleashing a war and all sorts. But now, more than fifty years as the world is divided into capital and have to find other ways to its growth, without changing the essence of industrial relations. And he finds them!One way to smooth this contradiction is the loan. Loan capital as an attempt to profit today based on future production, when the salary of the worker is low, that is, allows capital to get enough profit, but this consumes much more work.Only in this case, the contradiction is not overcome, but only pushed for time, until exhausted resource future wage employees. Resources have been exhausted, as the man with a salary of $ 1,000 can not gain credit for one hundred million, and even more so in unstable conditions of capitalist production. That's the crisis erupted.
Why he began his march from the U.S. financial crisis and why, are not difficult to understand.
The financial crisis - this is an inevitable manifestation of the dominance of the financial oligarchy, which originated on the basis of concentration of capital. The concentration of capital, when the larger capitalist sharks absorb the small ones, this is one of the laws of existence of the capital, leading him to the slaughter. And as in the past 100 years the world has watched the growth of American financial power, then the crisis began in this country.
The American financial system has long been considered one of the most free in terms of state supervision. American financial institutions have flourished, generating record profits at the expense of the housing boom and release of various derivatives.Almost unrestricted freedom in the financial markets has resulted in a huge overhang of derivatives - the derivative securities, the total amount of which amounted to more than 500 trillion, ten times the total world GDP in 2008, and at times - the value of all real assets in the world . Although the derivatives for a long time helping credit institutions rich, they also have caused the fall of some of them.But thou shalt not eat derivatives, of which you can not build a house instead of a jacket and not dress, but because all these derivatives, giving huge profits to financial speculators, should be based on actual production. And as in the actual production fails, the borrower could no longer borrow and pay interest, all of these derivatives fell like autumn leaves.Accelerated the crisis by the fact that American banks have introduced floating interest rates on loans, ie interest rates on loans varied independently of the original agreement. First, the borrower lure cheap credit, and then raised the percentage of the borrower and squeezed all the "juice" without thinking about consequences. And they came! And came the surprise of many. Began the decline in production, decline in living standards and poverty of the masses, plant closures, cuts in social security and so on.This phenomenon occurred not only in America but took almost the whole world, as the U.S. economy is one of the most powerful, and participants in the global market enjoyed dollar as the unit of account, as the world currency.His role in the development of the financial crisis as a global phenomenon and has played the U.S. Federal Reserve, acting as a global emission center.Use dollars and Russian banks, industrialists and citizens. And not just enjoyed, and most of the revenue from the sale of hydrocarbons invested in American securities, which erupted as a result of the crisis were to turn into a plain paper.Leadership of the country started its campaign to restore its reputation and criticism of the U.S. financial system, the fault which has occurred and the global financial crisis.Yes, I agree we are: the fault of the U.S. financial oligarchs. But who is pushing you serve them, who made the export to the U.S. from the sale of hydrocarbon resources, who are forced to destroy his own producer, in order to make enormous profits on the resale of imported goods? No one, except for greed at any cost, even at the expense of millions of Russian citizens from drunken despair, millions of young people adopted the path of addiction, in view of prospects, millions of sick and disabled who have died from lack of medicines.Who forced them to curtail domestic consumer market and replacing it with imported goods for a small group of primary income and monopoly of the financial oligarchy. When they are selling the hydrocarbons, immediately bought imported goods (pharmaceuticals, industrial goods, agricultural), and their importation into the country receiving the profit.
For quick sales of imported goods as they are destroyed by excessive taxes and expensive loans, domestic producer. This phenomenon also has an explanation, which fits into the history of the party, but in this case I will not touch this particular topic, so as not to overload the reader.It should be noted: that the system of government, which are adjusted for windfall profits financial-industrial groups and has led to such severe consequences of the crisis in the country.Decline in production, the effects of the crisis in Russia has been one of the most significant.Production and domestic consumption was breathing its last, if I may say so, and when the crisis erupted in the U.S., in Russia just started a hurricane.We can say that the situation has developed in the empire, which is described in Goethe's "Faust":Came to an end the union contributionsAnd no money pumpNow the Treasury is not to pumpDried up tributary capitation feesWe have that city, and donors,And svoevolnichaet know.Now in possession of any princessesHosts are new generation.Rulers do not tie the hands of we,Another handed out so many benefits.Of the parties as if they were not invited,Props we create.We are as alien to their sorrow,As we and our needs to them.Who now caresYou Guelph or you Ghibellines?Charity begins at home,All for ourselves, everyone sir.We all desire to become wealthier,On all the doors lock suspension,But empty in our chest.(Guelphs and Ghibellines - supporters of the papacy and the imperial authority in medieval Italy.)
But today, it is important not only to determine the true reasons, but also to find ways to overcome the devastating crisis, the ravages of the financial oligarchy, creating unbearable living conditions. And that was just what, exactly, we do not hear from our government and president.Government anti-crisis plan aimed at bailing out banks and the profits of financial-industrial groups, but not to restore the country's industrial potential. What, incidentally, is very distinctive on the measures taken by the same Americans or Chinese.
As I said, the reason for the U.S. financial crisis has in no way limited freedom in the financial markets on release in treatment of various derivatives, which led to the creation of the huge overhang of derivatives - the derivative securities, amounting to more than 500 trillion.All this is a manifestation of the domination of finance capital, leading to the collapse of the entire system of capitalist relations, when the actual production is destroyed for the sake of the profits of the financial oligarchy. The unfolding financial crisis, when only a year more than a bankrupt U.S. banks that made the U.S. administration to take stringent measures to curb the arbitrariness of financial institutions, and President Barack Obama has called for tougher financial controls in the United States.U.S. President Barack Obama in his address to the nation called on Congress to approve the changes in the American system of financial regulation. He stated the need to introduce more stringent measures to regulate the economy and financial markets - not only in the U.S., but around the world to prevent the recurrence of past mistakes.
The massive collapse of banks has caused anger on the part of the American public and the media, who accused the bankers of irresponsibility, greed, and sometimes in criminal acts. Summing up all the changes proposed by the U.S. administration, we can say that the U.S. financial sector regulation will be much greater than before the crisis. Almost certainly, this means that the former gains the financiers can not see the U.S. as their ears.
The unfolding crisis in the United States shook the world economy, while Russia suffered the most severe consequences. The question naturally arises: why do Americans have a crisis, and we have a drop in production at several tens of percent? After China, which supplied the lion's share of the U.S. market goods, got just lower output growth, rather than falling.
In 2009, the growth of the Chinese economy grew by 8.7%, and even last year reached the same level of growth, and in 2010, according to IMF data, China's economic growth rate of 10%. What explains "Chinese miracle" of such a rapid and triumphant exit from the crisis?It's no secret that support for China's economy has a government program for stimulating the growth of 4 trillion yuan ($ 585 billion), as well as a record increase in lending, and not under any such interest, as in Russia. The volume of capital investment by Chinese companies increased by 33.5% in the first half against the background of a record volume of loans, which formed during this period are $ 1.1 trillion. However, many believe that current levels of the Chinese economy - is not the limit, and are waiting for exciting new data.According to the forecast deputy director of the Research Centre for the Development of the State Council Shusuna Ba, China will become the first country recovered from the recession, China's GDP growth in 2009 will be 8% in first quarter of 2010 could exceed 10%. The Chinese authorities intend to maintain measures to support the economy. "Thanks to the timely implementation of the package of anti-crisis measures failed to achieve economic growth, strengthening domestic demand for goods, increase income," - said at the October meeting, members of the Standing Committee of the State Council.These measures took the U.S. government and China, but what made the leaders of Russia, in order to support the domestic economy? And the Russian government is apparently looking to overseas friends, allocated huge resources to banks, but this result was different. Bankers money, of course, have taken, but to the real economy they have never reached. How did it! Began to resent all who hoped for a slightly different result. But why should it be different? Indeed, before the financial crisis, Russian banks were removed from the country's economic gains the lion's share, but why now they act differently and will no longer assign most of the funds allocated by the state to overcome the crisis? The President, the State Duma and the Government have refused to carry out the nationalization of the banking sector, and move to direct funding of industrial enterprises are faced with an outflow of capital and underfunding of the industry. It turned out that the banks are, and credit-financial system does not.The head of the Central Bank Sergei Ignatyev, not wanting to bear responsibility for all, said that part of the allocated state funds to support the financial sector, commercial banks converted into the currency and placed in foreign banks. Capital flight from Russia in October amounted to only $ 50 billionThe situation with the lending industry and Sergei Ivanov said. "A number of companies" defense "are experiencing an acute shortage of working capital to ensure the finished product, transfer it to the customer.The banking sector tends not only to maintain its stability, which is understandable, but also a significant benefit at the expense of industry. It is completely incomprehensible, and in any gate not climbing.Many banks are aggressively trying to change the basic conditions already signed loan agreements to raise rates from 9-12% to 15-18%, "- said Ivanov.The situation is so critical that Prime Minister Vladimir Putin assembled bankers and threatened them with checks by law enforcement agencies, if the money will continue to flee the country. Do not stay on the sidelines and the President.
"Banks should not profit from the loans, the Russian President said and instructed the Central Bank to monitor the fairness margins of banks." At a meeting with the leadership of the Chamber of Commerce (CCI) Dmitry Medvedev repeated the words of Prime Minister Vladimir Putin that now, during the liquidity crisis, banks are expected to behave primarily as "gosagenty" and aimed at, as to saturate Money smaller financial institutions and enterprises of real sector of the economy. And forget for a time the main goal of any business - profit. "Rejecting that banks acted as government bodies in shape, Dmitry Medvedev, offered to private banks to become so in essence, pressing on morality and responsibility. And to the need for compliance with moral norms, ie "Fair" margin, beyond doubt, the President proposed an ad hoc tsentrobankovskih "commissars."According to Medvedev, "fair" credit rate shall be determined by the formula of "inflation plus margin" (ie, the percentage of the official Consumer Price Index plus a percentage of "fair" profit). And "see to it that this margin banking, bank fees for the relevant banking operation was sound - the case of control organizations, reminded Dmitry Medvedev. Otherwise, President Medvedev has threatened to cut the chain of passing money through a credit system. Law enforcement and supervisory authorities of the Russian Federation did not take long to wait, and agreed on joint action to tighten controls over the spending of budget funds allocated to overcome the effects of the global financial crisis. Meeting of the interdepartmental working group on combating violations in the sphere of the economy with representatives from the Interior Ministry, the FSB, the Federal Tax Service, Federal Financial Monitoring Service, the Central Bank and the Federal Financial Markets Service was held Tuesday at the General Prosecutor's Office. The meeting participants adopted an action program to ensure the safety of budget funds allocated for the strengthening of financial and other sectors of the economy.As we see, instead of simple, effective and understandable to the people of measures to nationalize banking, been told a lot of terrible words and exhortations, but because all the while going on as in the fable, where the cat Vaska listens but eats. And eating, as seen from the messages that CAT is not enough. According to CB, profit of 30 largest credit institutions in the first quarter of 2010 increased by half compared to the same period last year - up to 82 billion rubles. The annual profit of 30 largest banks on April 1 962 000 000 000 515 519 000 rubles, said the central bank.This is only a 1.4% increase that was the year before (949 000 000 000 181 109 000 rubles). But while the first three months of 2010, earnings top thirty was twice over the same period in 2009: 82 billion rubles against 39.7 billion rubles.All Russian banks were for the first quarter of 116.7 billion rubles of net profit. It is interesting that the volume of lending continues to fall (on April 1st credit debt amounted to 14.955 trillion rubles, while the previous year was 15.805 trillion rubles), and arrears on previous loans and other placements in the same period has almost doubled - to 752.62 billion rubles to 463 billion rubles. In recent months, the banking sector can be divided into two main trends - the decline in assets of credit institutions and increase bank profits, experts say. "The decline in assets is justified some reduction in lending, as well as a significant reduction in the volume of cash, precious metals and stones (by 25.48% to 408 billion rubles).A rise in earnings is due primarily slight increase to customers, increase revenue bonds and notes and an annual increase in interest income of banks ", - analyst IK" Finam "Konstantin Romanov.
That's the paradoxical situation in the banking sector - loans stagnate, profits grow! This economy in Russia!Successfully overcome the crisis and the Russian oligarchs, who were able to double his annual state of up to $ 297 billion, estimates the Russian Forbes. Themselves as billionaires has twice as many - 62. The only one who had to disentangle effects of the crisis - it's just the Russian workers, all of which proved to be without means of livelihood, so as to consider unemployment compensation funds for life is difficult. Yes, and those who continue to work are forced to tighten their belts tighter and tighter, so as greatly increased utility bills, food prices, and wages also declined, due to uncontrolled inflation and invincible.
At the same time the Russians are spending almost half their salaries to buy food, as evidenced by data from a survey by the Levada Center. This suggests that Russia - a country poor, and assumptions about the situation yet.Almost half of their monthly income Russians spend on food, leads the "Interfax" information nationwide survey by the Levada Center, conducted from 16 to 19 April. Dlyasravneniya: in the crisis year of 2009 it took less than - 36% of salary. Now, based on survey data, to buy food 23% of Russians are spending two-thirds of earnings, 20% - slightly less than half, 10% - all the money.The fact that a large part of the salary goes for food, evidence of low incomes of the least affluent.In fact, the share of expenditures in the family budget on food - an indicator of poverty. This figure is in contrast to the official statistics can not be deceived: it is the most versatile and the ultimate indicator of poverty. Here at once inflation and food prices, and wages. And it is not surprising that in response to the crisis, this share has increased. If citizens, spending on food half earnings in the country for more than 50%, we can say that the country is poor. Meanwhile, in developed countries, families spend on food at about 20-25% of monthly income. In some countries the figures are even better: in England, for example, is spent on food 11% of household income in France - 14%.It does not take rocket scientist seven and ten degrees, to realize that low labor costs and allows the financial oligarchy, raw magnates and their serving bureaucracy and get a fabulous profit. And the working class has something to achieve, the Bole that the passive consent of employees to work for little pay is leading the country to death and it's not an exaggeration. Indeed, the low cost of labor and capital is pushing the country to a dead end - cut in wages as the sole source of increasing profit. This also contributes to the uncontrolled influx of migrants and that the first phase of the capital increase revenues, but is ultimately destroyed, industry, economy and country. Only the high cost of labor to the world markets, forced the captain, but a necessity and is the driving force of development, increase productivity, adopt new technologies and machines. Recently received widespread slogan: "Decent pay for decent work." With this slogan are the union leaders, this slogan sounded and the Congress of "United Russia". The new owners pronounce this sentence of life with profound views, relying on the recognition and understanding.That's just in that very slogan is nothing new, but a rehash of old, worn European politicians still in the nineteenth century, the slogan "Fair wages for a fair day," which still Engels offered to bury forever. But as we see, this slogan has found a second life in newly-made mouth of the Russian bourgeoisie. That's what I wrote on this subject Engels: "The fair wage for a fair day? But what is a fair wage and that such a fair day? How are they to those laws under which he lives and is developing a modern society? To answer this question we must look not to the science of Siberian deer or the right not to sentiment of humanity, justice, or even charity. What is true in terms of morality or law, may be far from fair in social terms. Social justice or injustice are determined only one science, namely, the science that deals with the material facts of production and exchange - the science of political economy ... but greatly beloved, understand the cause of a little deeper. Since, according to political economy, wages and working day determined by the competition, justice obviously requires that both parties were from the beginning placed in the same conditions. But this is something and there really is. If the capitalist has not agreed with the workers, then he can wait, living on his capital. Desktop can not. In addition to salary, he can not live on that, and so he is forced to take the job if there on the terms on which he can get it. Working from the very beginning is in the adverse conditions of the struggle. Hunger puts him in terrible disadvantage. Meanwhile, according to the political economy of the capitalist class, that's the top and is justice.But this is utter nonsense. Distribution of mechanical power and machinery for new industries as well as dissemination and improvement of machines in those industries, where they were applied, deprived of more and more "hands", and it is much faster than those displaced by the "hand" may be engrossed and to find employment in factories of the country. These superseded "hands" form a true industrial reserve army, which uses capital. If things are bad in the industry, they may die of hunger, beg, steal or go to the workhouse, if things are good in the industry, they are always on hand to expand production, and as long as the last of the men, women or children, components of this reserve army, can not find work - which happens only during periods of frantic over-production, until the reserve army of the competition will lower wages, and one has its existence will be strengthened by capital in its struggle against labor. In competition with the capital labor not only put at a disadvantage, but he still has to drag his leg chained to the iron core. However, according to the capitalist political economy, this is true.But find out from the same fund pays a capital so that a fair wage. Of capital, of course. But capital does not produce value. Labor is the only source of wealth, capital itself is nothing, as the accumulated product of labor. Thus, the fee shall be paid for work of the same work, and work paid for out of their own product. According to what we might call ordinary justice, workers' wages should correspond to the product of his labor. But according to political economy, it would not be fair. On the contrary, the product goes to the worker's labor to the capitalist and the worker gets out of it no more than what is absolutely necessary for life. Thus, the result is an unusually "fair" competition is the fact that the product of labor of those who work, inevitably accumulates in the hands of those who do not work, and it becomes in their hands a powerful instrument of enslavement of the very people who made it.Fair wages for a fair day!Much can be said about just working day, the validity of which to a tee is the same as justice and wages. But it should be postponed until another time. From what has been said, it is clear that the old slogan has outlived its time and is unlikely to fit into our time. The validity of political economy, since the latter is true formulates laws that govern today's society, that justice is entirely on one side - on the side of capital. So, bury forever the old slogan and replace it with another:TOOLS OF LABOR - raw materials, factories, machines - In possession of the workers! "So he taught business associate of Marx's revolutionary and successful businessman Friedrich Engels. And today, estimating experience, past reforms have to say - the State - in the possession of the workers. And it can only really, not in words, to ensure fair wages and the progressive development of society.Vitaly Glukhov
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