{"id":397458,"date":"2019-02-27T17:34:17","date_gmt":"2019-02-27T16:34:17","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/socialism-and-the-case-for-expropriation\/"},"modified":"2019-02-27T17:34:17","modified_gmt":"2019-02-27T16:34:17","slug":"socialism-and-the-case-for-expropriation","status":"publish","type":"post","link":"https:\/\/rinf.com\/alt-news\/newswire\/socialism-and-the-case-for-expropriation\/","title":{"rendered":"Socialism and the case for expropriation"},"content":{"rendered":"<div id=\"content\">\n<h3 class=\"nomargin\">\u00a0<\/h3>\n<h2>Socialism and the case for expropriation<\/h2>\n<h5>\n<p>    27 February 2019<\/p>\n<\/h5>\n<p>\u201cSocialism is back in fashion,\u201d declares the cover story of this week\u2019s <em>Economist<\/em>, the British weekly founded 176 years ago. Despite proclamations of the \u201cend of history\u201d following the dissolution of the Soviet Union, the newspaper roots the \u201cremarkable\u201d growth of popular support for socialism in decades of growing social inequality.<\/p>\n<p>\u201cSocialism is storming back because it has formed an incisive critique of what has gone wrong in Western societies,\u201d the magazine writes, adding, \u201cinequality in the West has indeed soared over the past 40 years.\u201d The growth of socialist sentiment is accompanied by a global strike movement by the working class, in which the number of people who went on strike in the US last year grew 20-fold compared to 2017.<\/p>\n<p>The same week as the <em>Economist<\/em> published its warning about growing popular support for socialism, a series of events have made clear the vast and entrenched power of the most predatory sections of the financial oligarchy in the United States, which is intent on intensifying an ongoing and massive upward redistribution of wealth.<\/p>\n<h4>About-face by the Fed<\/h4>\n<p>Speaking before the Senate Banking Committee Tuesday, Federal Reserve Chair Jerome Powell reiterated the decision by the Fed to stop raising interest rates following a mild market sell-off.<\/p>\n<p>While at the beginning of this year the Fed had planned three interest rate increases, now it envisions none. In fact, \u201cthe next policy adjustment is increasingly likely to be a rate cut,\u201d Lindsey Piegza, the chief economist for Stifel Fixed Income, told CNN.<\/p>\n<p>As a result, the Dow Jones Industrial Average has soared over 1,500 points. At the current pace, it is set to smash through record highs set late last year, within a&#8230;<\/p>\n<\/div>\n<p><a href=\"http:\/\/www.wsws.org\/en\/articles\/2019\/02\/27\/pers-f27.html\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 Socialism and the case for expropriation 27 February 2019 \u201cSocialism is back in fashion,\u201d declares the cover story of this week\u2019s Economist, the British weekly founded 176 years ago. Despite proclamations of the \u201cend of history\u201d following the dissolution of the Soviet Union, the newspaper roots the \u201cremarkable\u201d growth of popular support for socialism [&hellip;]<\/p>\n","protected":false},"author":2526,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-397458","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/397458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/2526"}],"replies":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=397458"}],"version-history":[{"count":0,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/397458\/revisions"}],"wp:attachment":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=397458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=397458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=397458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}