[Marxism] Bolton: Israel 'will attack Iran' before new USpresident in office, especially if it's Obama

S. Artesian sartesian at earthlink.net
Wed Jun 25 18:34:44 MDT 2008


How will this war reverse the decline in the rate of profit? The effect of 
the war will be increased oil prices leading possibly to a  horrible 
recession, hurting many US companies. I'd be surprised if the forces of US 
capital favor an attack.
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Well, obviously many of the forces of US capital do favor an attack. That 
much is obvious.  Just as many of the forces of US capital favored the 
invasion of Iraq.  Just as some of the forces of US capital "worried" about 
the repercussions of the attack on oil prices, "hurting" much of the economy 
etc. etc.

So it doesn't matter what some forces think; what matters is what capital 
requires-- which among other things is destruction of productive assets, 
restricting oil supplies to cover the overproduction going on; more ways to 
reduce social expenditures on "welfare" items, reduce wages, funnel money 
into "security," implement more mechanisms for controlling the working 
class, first and foremost by attacking the most vulnerable sector--  
immigrant workers.

In 2002, net income of the petroleum majors declined from the 2001 level due 
to an oversupply of natural gas and natural gas liquids.  And we got the 
invasion of Iraq in 2003.

In 2007-2008, net income for US industry, and the rate of return for all US 
manufacturing outside the petroleum companies declined.  So..... draw your 
own conclusion.





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