2. The Development of US Imperialism

 

            American society has developed in accordance with the fundamental laws of capitalism. Rapid expansion of capitalism began in the country shortly after it liberated itself from the English colonial rulers and their feudal restrictions in the late 18th century. The first stage of this expansion (1783-1860) was manifested in (1) a surge of commercial activity, including ship-building and rail transport; (2) “internal” territorial acquisition across the continent through primitive accumulation of aboriginal lands and their resources; forcible annexations in war with Mexico and various land purchases from European powers; and (3) the industrial revolution, especially in the Northeast. All this was accompanied by the concentration and centralization of capital in the hands of the bourgeoisie, which was formed mainly by elements from established families of large merchants and landowners as well as by the new rising class of industrialists.

    

             The spreading capitalist industrialization and growing strength of the bourgeoisie based upon the exploitation of “free” labor in the North conflicted sharply with the semi-feudal agricultural system of the South, where the landed-aristocracy built their fortunes on the barbaric enslavement of Black Africans. This led to a nation-wide crisis and clash in the Civil War (1861-1865), in which the Southern slavocracy was defeated but not overthrown and where chattel-slavery was abolished in favor of wage-labor and tenant farming. For the next three decades, the country experienced a tremendous surge of capitalist development manifested in (1) an ever-faster pace of industrialization in the North; (2) the growth and mechanization of agriculture in the South and other fertile regions; and (3) the extension of transport and communications networks throughout the country.  These advances relied on an ever-increasing labor force, drawn from waves of immigrants who arrived in the country from Europe and Asia.

     

            Thus, the US imperialist system that emerged at the end of the 19th century, grew out of 100 years of capitalist development and accumulation gained through the robbery and plunder of the Native Peoples’ and Mexico’s lands, the barbaric slavery of the Black people, and the exploitation of the proletariat. The concentration and centralization of capital and production led to the growth of monopolies -- the merging of bank and industrial capital in finance capital -- which formed huge trusts and conditioned the establishment of a financial oligarchy, comprised of the biggest and most influential monopolists. 

         

            Accumulating a superabundance of capital and driven by the law of maximizing profits, the American monopolists sought areas of investment for their surplus capital outside the continental US. Expansion abroad was expressed in the formation and growth of international trusts and the seizure of new markets through armed aggression. The war against Spain in 1898 signaled the beginning of this latter method. One of the first inter-imperialist conflicts, the Spanish-American War, extended US domination and influence over the Philippines, Guam, Cuba, Puerto Rico and a number of other Caribbean islands, all of Central America, and a large part of South America. Annexations of Hawaii, Samoa, and Alaska around this same time further broadened America’s sphere of influence in the Pacific.

    

            During the first quarter of the twentieth century, American capitalism developed at an even greater speed. Industrial growth, fueled especially by World War I, expressed itself mainly in the form of large-scale production, where the number of proletarians almost doubled. Consequently, small-scale production and individually owned enterprises were pushed further into the background as big capital asserted its domination over the economic sphere. Internationally, US imperialism grew financially stronger as the aftermath of the war transformed the country from a debtor nation into a creditor nation, with Europe forced to  borrow billions of dollars from the American capitalists through the Dawes and Young Plans and other schemes to reconstruct their ravaged economies and industries. Towards the end of the first quarter century, US imperialism had also grown to be a world military power, significantly increasing its armed forces to ensure a stable “rear” against the threat of the revolutionary proletarian movement at home and to defend big capital’s interests in foreign lands. As a result, after World War I, the US overtook Britain as the main imperialist power and the financial center of world capitalism.

     

           At the same time the monopolists gained dominance in the economic sphere, they also subjugated the major levers of the state to serve their interests.  Capitalist accumulation had been greatly facilitated by the state since the American Revolution.  Despite its democratic trappings, the state consistently functioned as a dictatorship of the bourgeoisie -- the suppresser of the working class and broad masses of the people to enhance capital’s ability to intensify the exploitation of labor.  But now this dictatorship worked primarily for the benefit of the biggest capitalists. Bourgeois democracy gave way to state monopoly capitalism to facilitate the concentration and centralization of capital and production in the hands of the monopolists and their seat of economic power - - the financial oligarchy. Thus, the state became even more anti-labor and anti-democratic, implementing draconian policies of reaction and counter-revolution all along the line.

               

             US imperialism swiftly moved into the position of bulwark of world reaction and international gendarme, evidenced by its policies toward the Socialist Revolutions in Russia and several European countries after World War I. Drawing from its huge financial and military resources, US state monopoly capitalism played a key role in waging world imperialism's counter-revolution, which succeeded in putting down the proletariat’s struggle in Germany and Hungary, but failed completely in Russia, where the power of the Soviets was staunchly defended by the Red Army, securing favorable conditions for the construction of Socialism.

           

            After an economic crisis in the early 1920s caused mainly by the transition from war to peace production and a sharp drop of American exports, the US continued its industrial expansion. During this period of relative capitalist stability worldwide, the volume of US production grew to the point where it exceeded that of all of Europe. The major factors contributing to this post-war boom were the advance of mass production techniques, intensified exploitation of the proletariat, and the all-round suppression of the revolutionary and labor movements. The monopolist ruling circles, assisted by the class-collaborationist policies of the American Federation of Labor bureaucracy, launched big propaganda and practical campaigns to “Americanize” labor through a vicious drive to destroy the workers’ unions or replace them with company “unions” while tempering these attacks with sops and bribes, such as stock “ownership,” insurance, and pension plans, etc. All of these measures were designed to crush the independence of the labor movement, to pacify the workers, and to enlist their “loyalty” to the capitalists, who hypocritically touted an economy of “permanent prosperity” from which all could benefit.

 

            The world economic crisis of the 30s brought this “golden age” of American capitalism to a disastrous end. Essentially a crisis of over-production, it began in the US and quickly spread to other parts of the capitalist world. Because this crisis broke out in the conditions of the general crisis of capitalism, it became the longest and most severe in capitalism’s history. US industrial production fell by half, and one third of the labor force was thrown out of work.  The proletarianization of the small farmer - a trend already developing during the 20s due to monopolistic pressures - escalated with thousands of small farmers losing their land due to foreclosures. On the other hand, the crisis afforded the financial oligarchy the opportunity to further consolidate its economic power by increasingly displacing small producers in agriculture and small businessmen while centralizing its political power by continually strengthening state monopoly capitalism. 

           

            Nevertheless, huge labor and democratic movements launched powerful struggles against the effects of the crisis and the bourgeoisie’s anti-popular policies, hurling the US ruling class into crisis and panic. The oligarchy was split between engineering a military coup to install open fascism or continuing the farce of democracy. The latter won the consensus and an election was rigged where a pseudo-pro-labor/ pro-people government, with the promise of a “New Deal,” offered the workers and broad masses "relief" from the harshest effects of the crisis. Nevertheless, because reform was essential to turn the tide of the mass movements away from social revolution, US state monopoly capitalism for the first time conceded federal government-run social benefits of scale to the masses. The advanced sections of the labor and democratic movements, however, continued to unite the workers and masses to organize and fight for more comprehensive and progressive demands and social policies. Despite its democratic façade, state monopoly capitalism became even more reactionary and assisted the capitalists to fight tooth and nail against these struggles.

           

            The world economic crisis exacerbated the inter-imperialist contradictions over markets, raw materials, and the export of capital. This, coupled with the uneven development of the big powers, conditioned events that led to World War II. Thus, the Second World War was the inevitable result of the development of world economic and political forces of monopoly capitalism. Moreover, it was the cataclysmic expression of all the class and social contradictions exacerbated by moribund capitalism. Before and even during the war, US monopolists funded the re-armament of Germany and aided the building of the hitlerite war machine, consistent with their policy to support the Axis powers’ suppression of the revolution and democracy as well as their war against the Soviet Union. Later, after the US was drawn into the war with Japan over spheres of influence in the Pacific, the American government joined a coalition with Britain and the Soviet Union to fight the belligerent fascist powers.  The fundamental character of the war shifted from an inter-imperialist conflict to a world-wide struggle against fascism; however, US and British imperialism retained their own venal objectives in the war: the elimination of competition on the world market, especially from Germany and Japan, and the consolidation of a dominant Anglo-American bloc over the imperialist camp. 

 

            With the victory over the belligerent fascist countries achieved mainly by the international struggle of the proletariat and peoples championed and led by the Soviet Union, world imperialism’s general crisis entered a new period extremely dangerous to reaction, primarily because the struggles for democracy, national liberation, and Socialism increased in popularity and power throughout the globe. Additionally, the war’s devastating effects had severely crippled all the major imperialist countries except for the US, which had actually increased its productive capacity by about 75% during the war. Nevertheless, due to the collapse of global markets the US faced a serious crises of over-production after the war which conditioned (1) unprecedented monopolization of finance, industry, and agriculture; (2) intensified merger of bank and industrial capital; and (3) the permanent militarization of the economy, all leading to a tremendous strengthening of finance capital and the financial oligarchy. Such developments enabled American finance capital to achieve its goal of establishing a world monetary system based on the dollar and implemented through the Federal Reserve Bank and other, newly created levers of the US state - the International Monetary Fund and the World Bank. 

 

            In these circumstances, American imperialism asserted itself as the “leader of the free world” and temporarily assumed a position of unrivaled hegemony in the imperialist camp.  At the same time, the US filled the vacuum left by the Axis powers’ defeat and became the new spearhead of world reaction.

 

            To protect and expand its interests against rival imperialists and fulfill its role as the major counter-revolutionary force on a global scale, the financial oligarchy fascisized the state and society.   It employed shallow pragmatism and monstrous deceit in furthering the objectives of big capital, claiming that the fascist transformation undertaken by the Truman administration was in “defense of democracy” against the “red menace” both at home and abroad. Thus, this new American brand of fascism - neo-fascism - was set up and consolidated behind the mask of liberal democracy, pretending to be opposed to all  “totalitarian” regimes, left and right.

 

            In the process of its transformation in the decade following the war, the state underwent extreme, comprehensive changes that included (1) centralizing political power in the executive branch of government and the top military command, both of which were directly subordinated to the financial oligarchy; (2) expanding the secret internal security mechanisms and foreign espionage services, which formed a separate subterranean state under the aegis of the oligarchy and mainly operated apart from the official oversight of the government;  (3)  increasing all military and police forces and placing them on a continuous war footing; and (4) becoming the first global terrorist state, threatening the entire world with atomic bombs and other weapons of mass destruction.

           

            With these components in place, US imperialism possessed the resources to launch a fascist counter-offensive, expressed in the Truman Doctrine and the Marshall Plan as programs for a Pax Americana of expanded US spheres of influence and world supremacy on the one hand and counter-revolution on the other. Loans for “recovery” from the war were made to Europe provided the countries submitted to US dictate regarding military alliances, trade agreements, and other economic treaties all of which resulted in American military occupation and US capital’s penetration of their economies as well as those of their former colonies.  Similar loans, alliances and treaties were forced on Japan and the undeveloped countries of Asia and Latin America.  Neo-colonialism – subjugation covered up by formal “freedoms”  - replaced the old colonial system.

           

            Simultaneously, under the guise of protecting the “free world,” the US neo-fascist counter-offensive aimed to suppress democracy, liquidate the independent labor movement, and crush the Socialist revolution. In this “Cold War” at home, the neo-fascist state unleashed a reign of terror against the working class and people, infiltrating and persecuting the vanguard organizations of the labor and democratic movements while harassing their supporters. Many of the trade unions were surreptitiously integrated into the state machine, effectively turning them into anti-labor organizations servile to capital. Scientific Socialist and democratic thought was banned from the intellectual and political life of the country in Byzantine fashion by anathematizing it as “Stalinism” or “Communist inspired.”

 

            Abroad US imperialism carried out various forms of aggression -- military interventions, terrorist plots, and blockades -- to stop the progressive and revolutionary struggles of the proletariat and peoples in different regions of the world. Under US dictate and double-dealing, the United Nations was transformed from a democratic forum of vital issues concerning the community of nations into a tool of imperialism. Specifically Washington targeted countries “behind the iron curtain.” Drafting key reactionary forces, including espionage units of British imperialism and the Nazis, American neo-fascism organized a broad campaign of internal aggression against the Soviet Union and the Socialist Camp. Yugoslavia was the first to succumb in a bloody purge of all Marxist-Stalinists from the CPY in 1947 and the establishment of the first social-fascist state; then, in 1953, with the assistance of fifth column conspirators within the CPSU, imperialism hatched a coup d’etat in which Joseph Stalin was assassinated and Socialism dismantled behind the signboard of strengthening it by “correcting Stalin’s errors.”  The counter-revolution quickly spread to most of the remaining parties in power, leading to the overthrow of all the New Democracies in Eastern Europe except for Albania while encroaching on the New Democracy in China. In time, reaction eliminated all Socialist and democratic countries allied with the Socialist Camp.

 

            The restoration of capitalism in the Soviet Union and the counter-revolution throughout the Socialist Camp led to an entirely new international situation by the early 60s - an imperialist camp divided into two major blocks of capitalist states.  US neo-fascist imperialism led the “West,” comprised of the big European powers, their dependencies, as well as Japan. And Soviet social-fascist imperialism led the “East,” comprised of the Eastern European states. These “two superpowers” both contended for world domination and colluded to suppress the democratic and Socialist revolutions.  In their collusion, they formed a cabal that attacked and destroyed the Marxist-Leninist line and organization of all vanguard Parties associated with the International Communist Movement, converting them into levers of the capitalist government in countries where they were in power and fifth column mechanisms of the state in other countries. Through sabotage, treachery, and manipulation the neo/social-fascist cabal contained the revolutionary struggles of the proletariat and peoples and maintained political stability in the imperialist centers and its newly established neo-colonial system.

           

            Despite its ascendancy over other imperialist powers and the serious weakening of the Socialist Camp, the US did not escape problems endemic to capitalism that were continually aggravated by the general crisis. A stagnant economy, high unemployment, and rampant poverty gripped the country.  Seven “recessions” occurred between 1945 and the early 1970s, with small and medium sized businesses failing or falling prey to big capital, thus providing conditions for further monopolization in industry, agriculture, and banking in the form of “conglomerates.” During this same period, the oligarchy attempted to stimulate the economy through ever-increasing government spending on armaments, “bailouts” of big corporations, and the over-bloated bureaucracy. A marginal expansion of government-funded social benefits for the working class and oppressed minorities was also implemented, more as a means to sap their struggles of revolutionary drive than to provide economic relief.

 

            The constantly growing federal expenditures temporarily averted a serious economic crisis but led to enormous indebtedness to the big banks that granted loans only at usurious rates. To finance the debt, the government adopted a policy of printing more and more money and exacting increasingly onerous taxation on the majority of the population. The rapid growth in the money supply, resulting in surging inflation, and the relentless raising of taxes, resulting in wage cuts significantly reduced the consuming power of the working class. 

 

            By 1971 the persistent economic stagnation had brought about the first US trade deficit in the 20th century, and the devaluation of the dollar forced the US to abandon its convertibility into gold, undermining the stability of foreign exchange relations. However, American monopoly capitalism continued to enrich itself.  The militarized economy and the open-door policy to the US treasury enabled it to maximize profits in the home market while its neo-colonial empire provided fabulous returns on dollar investment through various forms of “aid,” unrestricted plunder of natural resources, and ultra-exploitation of labor.

 

            US capitalism, finding it much more profitable to extract surplus value from ultra-exploited wage, semi-slave, and straight-out slave labor, stepped up its relocation of production to the neo-colonies, mainly to South America in the 70s and to Asia in the 80s. Thus, these two decades witnessed the capitalists “deindustrializing America,”  “shifting to a service based economy,” and destroying millions of full-time, steady jobs at living wages and adequate benefits in the both the manufacturing and auxiliary sectors. Because these policies further eroded the already reduced consuming power of the masses and threatened even deeper “recessions,” the financial oligarchy introduced another “innovation” - the extension of massive amounts credit and loans to the working class and people.

 

             To maintain its dominance over the imperialist camp and expand its neo-colonial empire, US neo-fascism relentlessly pursued policies of aggression abroad and repression at home. Throughout the 60s, 70s and most of the 80s, US ruling circles viewed Soviet imperialism as the greatest threat to their empire. Not only did Soviet imperialism exercise hegemony over a sizable number of dependent states and neo-colonies; it attempted to exert its power into new regions by "supporting" national liberation movements in Africa, the Middle East, Central and South America, and Southeast Asia that were opposed to American imperialism. At the same time, the Soviet KGB spawned and maintained pseudo-revolutionary or progressive organizations and parties as fifth column mechanisms throughout the world. The American military machine and subterranean state espionage forces, e.g. the CIA, countered with measures ranging from covert "black-ops" to open warfare in the most contested countries in a rivalry between the “two superpowers” that left tens of millions of people dead or injured and with the economies and infrastructure of many of these countries ruined. By the late 80s the US sought to eliminate Soviet imperialism as a rival through an all-out campaign of internal aggression, which led to “capitalist revolutions” where puppets of the US and other big imperialist states were installed in power. However, the “fall of Communism” in the Soviet Union and Eastern Europe increased and intensified the contradictions in the imperialist camp, thus weakening US influence over it.         

           

            In the 60s and 70s, US neo-fascism attempted to maintain a “quiet rear,” primarily through its subterranean state apparatus that worked to put down the upsurge in the revolutionary, labor, and democratic movements. Tactics ranged from fifth column infiltration, manipulation, and sabotage to terrorist threats, assaults, and assassinations, in addition to bourgeois cultural diversions of the omnipresent circus maximus on stage and screen.  Nevertheless, the revolutionary and progressive movements put reaction on the defensive and made some important gains towards improving the conditions of labor, for peace and the demilitarization of society, for democratic rights of minorities and women, and for environmental protection. Because these movements emerged and gained significant momentum from the great international anti-fascist struggle that had been waged since the 30s, they clashed sharply with the neo-fascist regime, briefly destabilized it, and caused a severe political crisis in the ranks of the big bourgeoisie. 

 

            By the early 80s the financial oligarchy decided upon resolving this crisis by launching a new offensive against the working class and people at home through more heavy-handed forms of rule, thus complementing its stepped-up reaction, war-mongering, and aggression abroad. A rabid anti-labor, anti-democratic, racist, anti-Communist and frankly pro-fascist administration was installed in the executive branch to “make America great again.”  It promptly attacked the labor, democratic, and revolutionary movements in draconian suppression of the class struggle. At the same time, it openly showed itself the servant to the big bourgeoisie by scrapping many government social services, benefits and protections to the masses while opening up new compartments of the treasury for capitalist plunder. This was the beginning of the Great Repression, which has continued to the present despite several changes of window dressing at the White House and Congress.

 

            The current US economy is conditioned by the fundamental laws of capitalism and the general crisis. Frantically chasing after maximum profits, big capital has further concentrated and centralized production into the hands of fewer national and foreign monopolies. The less profitable sectors of production, such as heavy industry (iron, steel, machine building) and consumer goods manufacturing (clothing, housewares, electronics) have been scaled back, while the more profitable, such as light industry (plastics, pharmaceuticals, computer chip, and other “high-tech” products) have been developed. Armaments and other war-related materials, which reap the highest profits, comprise one of the largest bases of production, cutting across numerous sectors in the militarized economy.

 

            In shifting and expanding much of its production “off-shore,” the US, together with other big capitalist states, has transformed entire countries in Latin America and Southeast Asia as well as Taiwan and certain regions of China, into its private sweatshops, pumping out huge amounts of consumer goods for the imperialist centers at the lowest possible costs, thus aggravating the state of chronic over-production, which has plagued world capitalism for many years. At the same time, a major part of the US economy has been transformed from industrial-based into an auxiliary/administrative apparatus, supervising production in this colonial periphery.  As a result, the size of the American industrial proletariat is considerably smaller relative to the size of the working class than ever before. Furthermore, US immigration policy has allowed entry to huge numbers of ruined, desperate workers from the economically devastated neo-colonies for staffing industrial jobs. These measures have significantly weakened labor, giving the capitalists a freer hand in pushing a regime of ultra-exploitation to extract the maximum surplus value from the laboring masses. Integral to this regime is the conversion of full-time, steady jobs into two or three times as many part-time or temporary ones. Concurrently, a growing section of the working class is thrown into a migrant work-force with low pay and few if any benefits, adding greatly to the impoverishment of the proletariat, which overall has had its wages cut by over 20% since the late 70s. This exploitation is unprecedented for American labor, now routinely subjected to inhuman conditions in capitalism’s never-ending and barbaric speed-up campaign for “increased productivity” that is devastating the mental and physical health of tens of millions of workers. 

 

            The unprecedented impoverishment of the working masses - the overwhelming majority of the population - is brought about by lowering wages to far below the value of their labor.  This condition has both enabled and required the financial oligarchy to force the masses into borrowing large sums of money at usurious interest rates as they attempt to sustain a tolerable standard of living at the same time it encourages them to increase their purchases amid the backdrop of chronic overproduction. The crisis of overproduction and the degradation of labor through ultra-exploitation, impoverishment, and debt bondage are indicative of social decay and ultimately signal the decomposition of capitalist relations in the US, where the contradiction between the social means of production and private appropriation has become exacerbated to the extreme.

 

            To impose this most vicious anti-labor regime of any of the Western capitalist states on the population, US neo-fascist rule has become even more counter-democratic and barbaric at home, carrying out continuous class war against the working class and people to prevent any and every current tending toward revolutionary struggle against wage and debt slavery. At the same time, neo-fascism relies increasingly on nazi-type propaganda and censorship to distort and cover up it real reactionary activities.

 

            US neo-fascism’s ideologues and journalists have the pernicious task of persuading American and international public opinion that democracy and freedom exist in a country where at the turn of the century:

           

            strikes are routinely broken by the regular and irregular police forces, and the unions, entirely under state control through the labor-fascist AFL-CIO, are still subject to attack and even eliminated if they seriously challenge the interests of capital by fighting against the growing impoverishment and oppression of the working class.

 

             the national minorities, the native people, and oppressed immigrants experience systematic, all-round discrimination as well as state-organized terror carried out by the police, racist bands, and drug-running gangs. Many live in semi-apartheid conditions in the inner city, poor rural areas, “reservations,” etc. where they especially face the constant threats of police harassment, brutality, false arrest, and arbitrary jailing in a prison system that has the highest incarceration rate in the “West” and is notorious world-wide for its filth and savagery.

                                   

             women, permanently and flagrantly placed in an inferior position compared with men and deprived of equal rights in all social spheres, are even more ground down through greater exploitation at the workplace, the debasement of marriage and destruction of family life, and by a rotting, sexually-depraved culture.

 

            programs for social maintenance and support of the working class, such as medical care, unemployment benefits, welfare, etc. are ruthlessly scrapped or denied by the state so more government funds can be placed in the service of the monopolists, resulting in deplorably high levels of hunger, poverty, disease, infant mortality, and homelessness for the masses.

 

            the environment is ravaged through anarchic development of open lands; an antiquated, pollution-spewing transportation system; poorly controlled use and disposal of nuclear and other hazardous materials; and rapacious plunder and reckless waste of natural resources, all with no regard for safeguarding the vital eco-systems, conserving the nation’s material blessings, or protecting the health and social well-being of the masses.

 

 

            On the world scale, US imperialism is the most powerful retrograde force, standing as the bulwark of capitalism, which is now too old to enjoy periods of “stability” or “equilibrium” and just sinks deeper into crisis and chaotic decay. Promoting itself as the “sole superpower” and the “indispensable nation,” the US today employs even more fiendish and aggressive measures to defeat imperialist rivals, crush the progressive struggles, and expand its “new world order.” However, such expansion is stymied by a world market glutted by chronic over-production, a preponderance of neo-colonies economically and socially devastated by imperialism, and the uneven development of capitalism expressed in Europe’s and Japan’s slow but steady encroachments into US economic and political spheres of influence. All of the above generate fresh and more antagonistic contradictions in the imperialist camp, which is now in the midst of a new struggle for re-division of the world, aka the “global marketplace.”

 

            The US and its imperialist rivals are in continuous and intensifying conflict while they find ways to collude to crush the democratic and revolutionary movements behind the blinds of working for “peace, human rights, and democracy” on the one hand and fighting against so-called terrorists, dictators, and rogue states on the other. Throughout the world, the imperialist states and ruling circles that are in contention sponsor terrorist and reactionary groups of every stripe (nationalist, religious, tribal, etc.)  as proxies to defend their respective interests in reactionary civil wars, where entire countries are turned into madhouses of butchery and destruction. At the same time, the US is using its military superiority to intimidate its competitors and launches open, terrorist aggression against weaker states and neo-colonies that are aligned with rival imperialists. In particular, the aggression against Iraq and Yugoslavia in which massive bombing took place and included the use of nuclear-tipped warheads and other weapons of mass destruction, have killed, maimed, and sickened millions of their people, destroyed their economies and infrastructure, and poisoned their lands. These adventurist and savage moves by US neo-fascism increase the danger of a new world war of catastrophic proportions. 

 

            In sum, US monopoly capitalism, despite its claims to the contrary, is “developing” along the lines of economic degeneration and political reaction. Its national economy is now in a weakened state and extremely fragile due to militarization, deindustrialization, and the impoverishment of the working class at the same time huge financial resources and unparalleled military might enable the US to maintain its long-held “leadership” position in the imperialist camp.  Nevertheless, American neo-fascism must resort to more tyrannical and terrorist forms of rule at home and abroad to impose its “new world order,” which is now based more on sinister threats and brutal force than on deception. This shift is isolating   the US from even the international bourgeois community, such as the United Nations while it has aroused the indignation among the world’s peoples, who are gravitating toward a popular movement against US imperialism in their ongoing struggle for economic progress, freedom, democracy, and peace.