[expand the money supply. As its chief, Arthur…]
Socialist Press1975 1975-02-20Read it in the scan (PDF), scan page 2 →
Read from the scan by machine and not corrected: expect misread words, and now and then a caption or a line from a neighbouring story. For anything you quote, read the scan.
Scan page 2
expand the money supply. As its chief, Arthur Burns, put it, the Federal Reserve Bank 'no longer has good options open to it" Ford's administration is itself divided. For all his frenzied travelling, Secretary of State Kissinger cannot secure any 'peaceful' settlement for UŞ imperialism's interests in the Middle East.
And his plan for an agreement with the Arab states for a floorprice' of around $ & a barrel for oil (compared with the present $ 11) is publicly opposed by Treasury Secretary William Simon and his aides.
US foreign policy as a whole faces an insoluble crisis. Not only must any plan such as Kissinger's be imposed on the politicians of the oil-producing states, themselves confronting the anger of the Arab masses, but America's waver ing 'allies' among the Western European governments are frightened at the inflation and economic disruption which is being driven forward by the fuel crisis.
For all his war threats, Kissinger who sympathise with them protect them.
The Workers Socialist League has no political agreement with the ERP, whose adventurist kidnappings have led to their political isolation in the cities. But they must be defended against the repression they now face.
Since the death of Peron last year the Argentinian regime, run from behind the scenes by ministe of 'social welfare' Lopez Rega, has moved to the right and to closer collaboration with extreme rightwing army officers.
Top figures in the government back the fascist assasinations and terrorism of the unofficial 'Argentine Anticommunist Alliance' . In August last year they allowed the army to shoot without trial sixteen members of the ERP.
The right-wing of the Peronist movement, in collaboration with the army, are clearly moving towards the imposition of a full military dictatorship, as in Chile. In this situation, with growing strength of the ELF, and the offen programme to construct revolutionary parties in every country.
----- pull-quotes -----
calth Tance For 8 UAW