USA is entering in to the troubled waters.

Will the the Fed begin or postpone the implementation in 2015 of its plan of interest rate increase as the first step of the monetary tightening? Financial markets complains of mixed signals from the Fed. Even if the slowdown of the Chinese economy is seen as responsible for the late activity in the international stock markets, the main problem is stated to be the US economy. Is there any doubt behind the conflicting messages from the Fed?Is it concerned about the overheating of the economy?

If so, their worries cannot be considered as unfounded. After all, the US undertook in the last 40 years, four times the monetary tightening, and all of them ended in a crisis. Each time employment and production collapsed beyond the Fed's forecasts. The biggest disaster was brought by the fourth tightening implemented between 2004-2007. Now USA is entering into the troubled waters again.

Between the years 1979-1982, Federal Reserve Chairman Paul Volcker, had convinced the political authority. He was hoping to take greater steps in combating  unemployment and idle capacity by controlling the money in circulation instead of the Keynesian policies which had been applied for a long time. But the cost was great. Citi and other financial institutions were difficultly saved from bankruptcy. In those years, Latin American countries that were under the direct influence of the United States were plunged into a crisis for five years.

It applied in another monetary tightening program had been applied during the 1988-1990 period. Federal Reserve Chairman Alan Greenspan dragged into debt the money and credit institutions who were already struggling to survive. In order to avoid recession and save the bankrupting companies, the federal authorities made great efforts. At that time, it is said that the state of Texas had consumed all of quarterly government revenue.

Alan Greenspan, undertook another monetary tightening in 1993-1994. He hoped to obtain significant results upon the long term assets and borrowing costs through small-scale tightening. Fortunately, upon the opposition of major members of the Federal Open Market Committee, Greenspan gave up shortly the application. The US economy was saved from entering into a new recession.

The last one (2004-2007), was the most devastating. After the implementation, neither Greenspan nor his successor Bernanke understood how the financial system and the housing sector had become fragile. The world economy is still not able to get rid of the effects of the 2008 crisis started in the US. In the US, the policies, deregulations and tightenings upon which everybody is clinging to, continue but until when?

THE GREAT CRISIS OF THE CAPITALISM

THE GREAT CRISIS OF THE CAPITALISM

The beginning of the affecting of the world economy by the neoliberalism coincides with the end of the '40s. Its main tools have been the World Bank and the IMF. It showed itself in the political arena and came to power through Thatcher (1979) and Reagan (1981). In fact, by making their first appearance in the Third World countries before the developed countries, neoliberalism manifested itself in Chile with the Pinochet's coup.

The disabling of the applications such as welfare state which belonged to the "Golden Age" of the capitalism, enabled the strengthening and spreading of neoliberal policies. The surrender of the Social Democrats to the neoliberalism permitted the change of policy of the SPD, headed by Schröder, thus took effect in Europe in the same line. In fact, a return had started in another guise to the wild capitalism that the Marxists had meticulously analysed.  The circle was being closed by the neoliberals.

The neoliberal do not comprehend that the neoliberal policies cannot be sustained without pressure or tyranny, nor do they understand the causal relation between neoliberal politics and the civil or military coups. They are opposed to the coup d'etat but they don't want to abandon the neoliberalism. Now, once again the circle is closing; capitalism is in the grip of a crisis on a world scale. The resort is also likely to call on bullying.

The crisis is crushing upon the all the countries with a great noise; the ones who will bare the most pain will be the employees and the people who were pushed to the bottom rows of the income distribution during the neoliberal era. The imperialists who have began to take measures on a global scale in order to extend the life of the bankrupt policies,  are putting up a bullying on an international scale.

Trans-Pacific Partnership TPP, foresees an almost unlimited freedom through large and versatile arrangements in favour of the international capital in many areas. One does not know whether this agreement which plans to cover the northern half of the sphere will be a remedy the crisis of the capitalism. But there is one thing we are sure of: unless the persons who will put their hand in a revolutionary way upon the system, the imperialists will always be successful in overthrowing the burden of the capitalist crisis on the developing countries.