On 31 May Irish voters are asked to vote on the European fiscal treaty. This video explains what the treaty is about.

With long-term real sustained growth ruled out in the next while, this recovery will be unable to bring back the confidence and stability that existed before 2008. Instead, it can prepare the way for new shocks and changes, resulting in a further breaking of illusions in capitalism and the political system as more workers and young people see their hopes and dreams shattered as the present shaft of light at the end of the tunnel is extinguished. While this will be very painful for workers and the poor, it will create even more favorable conditions for the growth of socialist ideas.

It’s been five years since the housing bubble burst, sending millions of working-class homeowners into foreclosure and economic devastation. While banks got bailed out, the hard-won assets and savings of working-class communities were wiped out. But now, with the encouragement and confidence of the Occupy movement behind them, homeowners are beginning to fight back in a serious way.

A large majority of the public – 77%, according to a December Pew Poll – agrees with the basic premise of Occupy Wall Street that big corporations and the 1% have too much power. But across the country, most Occupy events remain small and Occupy groups have failed to sink roots into working-class communities most impacted by Wall Street’s class war policies. One of the exceptions to this trend is Occupy Homes Minnesota, a growing community campaign against foreclosures that is increasingly looked to as a national model. In a few short months, the campaign met with impressive success.

A country stupendously rich in human and material resources on the world scale is virtually on the last scale of ladder of civilization and economic development.

The Greek bailout 2.0 has averted a default, for the moment. The new fiscal pact is a straitjacket that will aggravate Europe’s austerity-induced recession. Ireland’s referendum threatens to shake the EU and the eurozone. There is growing discord among EU leaders. Far from over, workers’ struggles against capitalist austerity will erupt on an even bigger scale.

In November, Monique spoke to Occupy Minneapolis General Assembly, asking for help. Soon after, she publicly pledged to “occupy” her foreclosed home. Another two joined Occupy Homes in December, and by early March, eight had publicly pledged to resist foreclosure and eviction. Dozens more are in discussions with us, and the list is growing faster than our capacity to process them.

Hailed as a landmark agreement, President Obama announced in early February a $26 billion settlement with the five largest banks to provide homeowners ‘mortgage relief.’

In the periphery of the Eurozone – Greece, Portugal, Spain, Italy, and Ireland – the dominant process is one of mass unemployment, especially among young people, growing poverty, and vicious attacks on vital social services like education and health care. The policies of austerity are the result of the crisis of world and European capitalism and the determination of the capitalists across the world to make workers pay for the crisis. These drastic cutbacks by the pro-capitalist governments, whether elected like the Popular Party in Spain or imposed by the banks and the speculators like the “technocrat” governments of Italy and Greece, only further depress these economies.

The Massachusetts Bay Transportation Authority (MBTA) which serves Boston and the surrounding area proposed two possible plans to eliminate the estimated $185 million deficit it will face this coming year. Both proposals involved 30-40% fare increases, with one proposal including more service cuts than the other.  The unelected MBTA board presented these proposals, and said, "there is no other option." Yet the MBTA pays twice its deficit in debt servicing. This has stirred up anger in working class communities, among youth, and among senior citizens. 

“2012 will not be a walk in the park”, warns Christine Lagarde, head of the IMF. The world capitalist economy is on the brink of a new downturn, with a recession in Europe and a marked slowing of China, India and other semi-developed economies. The eurozone debt crisis is far from resolved and could trigger a new global banking and economic crisis at any time.

Youth have begun to rebel against these conditions on a grand scale through the Occupy movement. Now there is a call for March 1 to see a national day of action of mass protests throughout the country against tuition hikes, education cuts, and a future of joblessness, alienation, and corporate domination. Mobilize in your school and community to make March 1 the biggest protest possible!

Poverty is ugly. Really. All around us we are bombarded with images of trim, beautiful people with smiling mouths filled with white straight teeth. The reality amongst the working class and poor are mouths with gaps from missing teeth and amputations resulting from rampant diabetes.

It’s been five full years since the sub-prime housing market collapsed, triggering recession, skyrocketing unemployment, and a foreclosure crisis that continues to ravage working class neighborhoods. Yet still, while Wall Street got bailed out, no government relief is in sight for homeowners or our communities. But hope is on the way. Not from any politicians - both parties are completely bought off by Wall Street - but rather from ordinary people rising up to reclaim their homes and neighborhoods! The re-orientation of the Occupy movement to "Occupy Homes" offers the potential to build a serious national movement.

The foreclosure crisis is hitting the Twin Cities hard. According to a study by Neighborhoods Organizing for Change, Minneapolis alone has had over 13,000 foreclosures since 2006, with a majority of evicted families moving out of the city. In November, a campaign was launched by a coalition of activists, including Occupy Minneapolis and Socialist Alternative, to occupy foreclosed homes and stop the banks from destroying our communities.