What point has the economic crisis reached?: The Dead-End
The crisis deepens, trade wars heat up, the attack on the working class intensifies
At the beginning of 1986, before an audience of skeptical workers, fed up both with 15 years of inexorably rising unemployment and with the endless refrain that “we are nearly at the end of our economic difficulties”, the world’s governments shouted from the rooftops that this time the end of the tunnel really was in sight - as long, of course, as the workers were prepared to accept a few more sacrifices. Why? Because the price of oil was collapsing on the world market and because the dollar’s exchange rate was dropping. The press spoke of the “oil counter-shock” and the “oil windfall” which were to solve all our problems. The nightmare was at last coming to an end.