Freedom Road Socialist Organization denounces the escalation of the bloody and unjust U.S. war in Afghanistan. We condemn the decision made by the White House and Pentagon to ‘surge’ over 30,000 U.S. and NATO forces into Afghanistan in an attempt to stabilize a failing occupation regime.

Minneapolis, MN – It was standing room only, as more than people 55 came together here, May 6, to celebrate International Workers Day. Leaders from labor, the fight for Native land at Highway 55, welfare rights, anti-war, and student movements spoke of their struggles and victories over the past year. Some traveled over 100 miles, from Duluth MN, to attend.

We are publishing the following essay on the life and work of Fred Hampton to coincide with Black History Month, 2008.

May 1st, International Workers Day, is a day of struggle. Around the world, working people will march against imperialist war, to defend the rights of immigrants and to fight to protect their jobs and communities. Here in the United States, May Day has been reborn as millions of Chicanos, Mexicanos and Central Americans, as well as other immigrants and their supporters, have poured into the streets to demand legalization, and an end to raids, deportations and militarization of the border.

Recently the media has been abuzz with talk of the possible ‘nationalization’ of ailing big banks such as Citigroup. Both Democrat and Republican senators, as well as the former chair of the Federal Reserve, Alan Greenspan, have raised the possibility of a temporary ‘nationalization’ or government takeover of big banks.

One year after the current financial crisis began, the situation has gone from bad to worse. What began with the failure of small mortgage lenders has toppled Wall Street investment banks, the largest mortgage company in the world, and a trillion-dollar insurance firm. Depositors are starting to flee banks and money market funds, putting businesses in danger of not being able to get loans. Banks don’t want to lend to each other and the stock market can’t find buyers. The economy continues to get worse month by month. As job losses mount, companies declare bankruptcy, foreclosures rise and consumers cut back on spending.

A Fight Back! Editorial

Commentary

No End in Sight for Working People

In the six months since the financial crisis exploded with the collapse of New York investment bank Lehman Brothers, the world economy has been gripped by the greatest economic crisis since the Great Depression of the 1930s. U.S. and European banks have admitted a trillion dollars in losses, while the banking system of Iceland totally collapsed. Almost all of the major economies of the world, with the exception of China, have started to contract, with millions of workers losing their jobs and businesses going bankrupt right and left. Hardest hit for now are the new capitalist economies of eastern Europe, who are being slammed by their dependence on borrowing from foreign bankers, falling exports and plunging currencies.