It is true that the big tech companies have mostly financed their AI investments out of free cash flow. But the huge cash reserves of the Magnificent Seven are being drained and AI companies are increasingly turning to equity and debt issuance.
United States
Resistance breeds solidarity: A report from Chicago
The people who filled streets across the country on October 18 were those described above—many new to activism, urgently motivated by the authoritarianism rapidly descending on U.S. society.
Trump’s leap into irrationalism?
Beyond a handful of commitments, mostly revolving around ways to boost his own power and to line his pockets, Trump is completely mercurial. Perhaps this is part of his projection of a “strongman” image, but it can also produce a situation where, among his minions, “the knives are out for everyone,” as Trump biographer Michael Wolff said.
Trump uses Charlie Kirk’s murder as an excuse to crack down further on free speech
Developments since Kirk’s death should clarify some points amid the noise and social media vitriol. They have exposed the lie that conservatives and the far right are somehow champions of “free speech” against a censorious left “cancel culture.” When billionaires like X’s Elon Musk and Fox’s Rupert Murdoch own massive communications platforms from which they spread conservative and far-right ideology into the body politic, it’s hard to take the claim seriously. With few exceptions, the right’s pretensions to “free speech” were always phony and mostly raised when others used their free speech to criticize the right’s bigotry.
US economy: Stagflation now more than a whiff
The basic problem is that a lack of demand is not the constraining factor in American manufacturing; it’s the workforce. The number of workers who are able and willing to work on a factory floor is shrinking. Almost 400,000 manufacturing jobs are currently unfilled, according to the Bureau of Labor Statistics.
The trouble with Trump’s tariffs
Trump has been ideologically committed to tariffs and an autarchic or nationalist view of the U.S.’s role in the world economy for decades. In recent decades, economic nationalism has been rising across the entire U.S. ruling class, as administrations of both major capitalist parties seek to compete with China and to prod the European Union to increase its military spending.
The “parliamentary cretinism” of the Democrats’ opposition to Trump
It’s clear that the left and the labor and social movements are in a very precarious state today, and debates about how to fight back against Trumpian authoritarianism will be crucial. But elections and the courts won’t save us…
Bringing in the National Guard: Trump’s war on migrants (Part II)
It is not just the number of immigration detentions and deportations that is alarming migrant communities across the country; it is also the gestapo tactics used by the badge-less thugs who refuse to identify themselves as they beat and kidnap their targets.
How are Trump’s tariffs affecting the U.S. economy?
Job openings are down, and employment growth is confined to a small number of sectors. The average of about 130,000 jobs added per month in the first half of a year is the weakest since 2010, when the U.S. was beginning its long ascent from the depths of the Great Recession.
Democratic socialist Zohran Mamdani sweeps New York mayoral primary
There are too many differences between the mechanics of an electoral campaign and a social movement needed to win reforms. Marxists have long contended that elections are the “lowest form” of politics that don’t require the type of political commitment or mobilization that a true social movement entails.
The hideous truth about the “Big Beautiful Bill”
Donald Trump ruined everyone’s Fourth of July holiday by signing what he so fatuously called the “One Big Beautiful Bill.” It may be the single most damaging piece of legislation signed into law since… Who knows?
Israel has extracted $124 M per day from the U.S. Treasury for an entire year…
Much of it hidden behind opaque appropriations and congressional loopholes!
Where’s Elon? Trump and Musk’s predictable “breakup”
In a very short time—and due largely to the grassroots “Tesla takedown” protests that started in February—Musk became a major political liability to Trump. Musk’s “chainsawing” of the federal workforce and essential services, along with his embrace of far-right politics, transformed him into one of the most hated figures in global politics. Even Trump knew it was time to cut him loose.
Resistance grows against Trump’s authoritarian power grab
Millions of people joined in the protests on June 14th in defiance of Trump’s latest authoritarian power grab, with the largest drawing up to 100,000 demonstrators. A sea of people—most carrying handmade signs—swarmed downtowns in major cities. Many described their opposition to mass deportations as a key motivation to take part.
CECOT: The tip of the iceberg
From a Marxist perspective CECOT is a behemoth of state power used by the ruling class to protect ruling class interests. Migrants, often fleeing persecution or poverty caused or exasperated by global capitalism, are considered surplus labor. Rather than being integrated into the U.S. economy or granted basic rights, they are criminalized and cast as a threat to national security and economic stability.
