Capitalist credit Pt 2: Their word is your bond

 Written by: Nick G. on 30 October 2026

 

The bond market is not as prominent in most people’s lives as the share market.

Private companies and government can raise capital by issuing bonds which operate as IOUs. They are generally regarded as a safer investment than shares because they are issued with a definite rate of interest. 

Unlike shares, their value does not rise or fall.  What you pay, you will eventually get back. (Unless you choose to sell them, in which case you may either make a loss or a gain.) Like shares, the interest paid to bond-holders can only be derived from the surplus value created by workers’ labour power. In the case of government bonds, the government appropriates part of that surplus value through corporate and personal income taxation as well as from various fees and fines.

Bonds represent a loan from the investor to the issuer with the latter promising to repay any borrowed money, along with a set amount of interest. That promise, their word, is the guarantee of the bond’s value to the investor. Because they are regarded as safe and secure, bonds are also called securities.

Can the bond market collapse?

Safety and security are, of course, relative under capitalism. A bond market, just like a stock market, can collapse if the conditions are right. A collapse of the bond market would occur if confidence in bonds deteriorated so severely that investors rushed to sell, buyers became scarce, borrowing costs surged, and the financial system struggled to absorb the losses.

On October 9, Yahoo Finance warned of a global bond market “meltdown”, saying:

For the past month, global bond markets have been in the grips of a historic sell-off triggered by a tangle of complex economic issues ranging from the ongoing war in Iran to rising deficits to the race to build out data centers to power artificial intelligence.

Among the “tangle of complex economic issues”, Government debt can be a major cause of bond market instability. Governments, like the US, that continually run large budget deficits must issue new bonds to finance spending and refinance maturing debt. If investors begin to doubt a government's ability or willingness to service its obligations, they may demand much higher interest rates or refuse to buy its bonds.

If there is a sudden surge in interest rates, new bonds will offer higher yields than old bonds at a lower fixed interest rate, and investors holding them will find them less attractive and may seek to sell them below their value.

Two recent examples of bond market crashes occurred in the US in March 2020 and the UK in September-October 2022. In the US case, investors spooked by the Covid-19 pandemic rushed to sell US Treasury securities, normally regarded as among the world's safest assets, in return for cash. The Federal Reserve intervened on a very large scale to support the functioning of the bond market.

In the UK case, a change in government fiscal policy led to a massive sale of UK government bonds requiring intervention by the bank of England to reverse the collapse.

The global bond market is usually larger than the global share market, so its collapse could have more severe consequences for global capitalism. However, recent data suggests that there has been something of a reversal: the total value of contemporary global stock markets is approximately $160–165 trillion, while the global bond market is approximately $109 trillion. Perhaps one of the reasons for the surge of speculative capital into the share markets is the spate of IPOs launched by AI companies. Musk’s SpaceX in June 2026 was the largest ever IPO, at a valuation of US$1.77 trillion, making Musk the world’s first trillionaire. Anthropic’s forthcoming IPO is predicted to surpass SpaceX as the biggest capital market fundraising in history. The bubble is getting bigger…

How does the US dollar, as a fiat currency, sustain the US debt?

A fiat currency is one that is not convertible into a fixed quantity of gold or any other commodity. The US dollar has been a fiat currency since August 1971. Being a fiat currency means that the US Treasury can create as many dollars as it wishes, and use those to pay interest on Treasury bonds, and to pay back their cost when they mature.

The US Treasury can both issue bonds to access investors’ capital, drawing on the US dollar foreign reserves of other governments and international investors, and create the money to service the bond. But creating extra dollars does not of itself create extra value. That can only be done by the productive use of capital when it is utilising the labour power of employed workers. 

Government bonds are therefore a form of interest-bearing fictitious capital: they represent a transferable claim on the government’s future income derived from surplus value and obtained through taxes and other imposts.

While the US Treasury can create new dollars, it cannot do this indefinitely without causing inflation, interest rate rises and currency devaluation. The US dollar can sustain US debt but not forever.

China and US Treasury bonds

The market for US Treasury bonds is a potential source of crisis because the US dollar is the basis of international finance.  The issuing of US Treasury bonds keeps the US in debt to global investors. The central question is therefore not simply how much debt the US government has accumulated, but whether investors remain willing to finance that debt, at what interest rate, and whether the financial system can withstand a sudden change in confidence.

A complicating factor is the Chinese purchase of US Treasury bonds.

The US anxiety over China’s financing of the US deficit was revealed in 2010 when Australian PM Rudd met with US Secretary of State Hillary Clinton. Rudd advised Clinton to accept a Chinese presence on the world stage but to keep force as a back-up, and Clinton became exasperated and asked “How do you deal toughly with your banker?”

Within three years, China had reached the peak of its holdings of US Treasury bonds.  They were estimated to be worth $1.3 trillion in 2013. The figure has gone down since as China seeks to diversify its holdings and to use the yuan and the rouble in trade with the Russian Federation. As of August 2026, China held approximately $590.7 billion in U.S. Treasury securities.

China has no plans to plunge bond markets into a crisis for anti-hegemonic purposes

There are some on the Left who believe that China is divesting itself of US Treasury bonds to create difficulties for the US dollar in anticipation of making the yuan the currency of international trade.

This view is particularly held by those who maintain that social-imperialist China is still a socialist country, and that its divesting itself of US Treasury bonds is a progressive anti-hegemonic struggle. 

An actual estimate of China’s holdings is difficult as China has been transferring some of its US Treasury bonds to third-party custodians such as Belgium (Euroclear) or Canada, in which case the value of these assets would be recorded under the name of the custodian country rather than China, meaning China's actual exposure may be higher than official data suggests. 

The U.S. Treasury Department itself acknowledges that if U.S. Treasury bonds purchased by foreign customers are held in custodial accounts in third countries, the true ownership will not be reflected in the data.  

Just last week, the financial website Bloomberg intimated that China had placed hundreds of billions of US Treasury bonds in Canada. According to Brad Setser, a senior fellow at the Council on Foreign Relations and former U.S. Treasury official, during the period when officially recorded Chinese holdings continued to decline, the U.S. Treasury holdings recorded under the names of Canada and Belgium rose abnormally. For example, Canada's holdings increased from $169 billion five years ago to $465 billion in August 2026, and Belgium's from $228 billion to $490.5 billion.

Rather than engaging in anti-hegemonic moves, China is advancing its own hegemonic interests. It is helping US imperialism, its economy and its foreign policy, by financing its trade deficit whilst looking for opportunities to promote alternatives to US dollar global trade. 

Xu Gao, Chief Economist of Bank of China International (China) Co., Ltd., wrote of China’s game plan back in June. He said, in words that will disappoint those who believe “China is leading an anti-hegemonic bloc”, that the priority for China should not be to overturn the dollar-centred system prematurely or to make renminbi internationalisation a bid to replace the dollar. It was not in China’s interests, he wrote, to overturn the dollar-centred system of international payments. He cautions that replacing the dollar with another sovereign currency would be extremely difficult.

Xu Gao believes that the most likely direction of change is a supranational currency supported by multiple sovereign currencies. It would work in a limited sphere and alongside the US dollar. China had proposed the R5 in October 2024, a currency for trade between the BRICS countries. However, this failed to eventuate when the US threatened that if the BRICS countries did not use the US dollar to trade, the US would impose heavy sanctions on those countries. India became the first country to back out of the BRICS currency concept in December 2024. That was a big setback because India is a major player in BRICS, and without India's participation, a common BRICS currency won't be possible.

China’s purchase of US Treasury bonds is part of the collusion vs contention paradigm that marks the relations between US imperialism and Chinese social-imperialism.  

Analysts concur that the bond market is in “meltdown”, that is, it is on the way to a systemic crisis. 

So long as public confidence in the bond markets can be sustained, a systemic crisis can be postponed. If confidence plunges through the inability of the US to maintain interest payments, or a sufficient number of countries use alternative payment arrangements to avoid the erratic imposition by the US of sanctions on countries using the dollar in their trade relations, then there may be a crisis that will include Australia in its impacts. 

Workers may be in for an even rougher time that at present.

 

Further reading: 

Xu Gao: The future of money, and China’s choices  

Bloomberg:  Talk grows that China is routing US Treasury holdings through Canada: 

Yahoo Finance: Global Bond Markets Are in Meltdown—Here’s Why U.S. Homebuyers Should Pay Attention  

 

Capitalist credit Pt 1: This little piggy went to market…

 Written by: Nick G. on 30 October 2026

 

Capital’s incessant drive to produce and accumulate more of itself relies on credit. 

Credit is a many-headed monster: credit cards, payday loans, consumer leases and rent-to-buy, bank and other financial institution loans, and the stock and bond markets.

In the first lot of credit, the consumer is the recipient; in the stock and bond markets, companies and governments are the recipients. 

 

The little piggies who have gone to the stock market are the so-called “mum and dad” investors. Taking gas giant Santos as an example, there were 69,080 investors owning between 1 and 1,000 shares each. They held in total just 0.91 percent of Santos shares.

 

The big piggies that went to market are the institutional investors. These include hedge funds, mutual funds, pension funds, and insurance companies. They are the managers of other people’s money, but those “other people” are rarely mum and dad investors. They are usually large corporations and private equity companies whose identity, and hence, country of origin, is usually not known. In the case of Santos, (a serial tax avoider, having paid no tax on its Australian earnings over the last eleven years) they are the 20 largest shareholders, and those twenty hold just over 77 percent of Santos shares. 

 

 

Both the mum and dad investors and the institutional investors are extending credit to Santos by purchasing shares in the company. The value of those shares is market-driven – they can either rise or fall in price. The capital raised by these share purchases remains a fictional amount until such time as the profits from future surplus value creation allows the payment of a variable interest (dividends) to the shareholders. 

 

All of those shareholders are also gamblers, speculating on the shares holding or increasing their value along with the regular payment of dividends. A fall in the price of shares may occur in any company, but if it is a generalised fall then the stock market has crashed. If that fall particularly hits one type of company or industry, then the over-inflated value of those shares, their cost having greatly exceeded the ability of the industry to create enough surplus value, means that the bubble of over-investment has burst. Some are expecting there to be an AI bubble burst similar to the 2000-2002 dot.com bubble burst.

 

Of course, not every little piggy goes to market. Some stay at home.  They don’t eat roast beef and usually have none. Many are locked out through poverty and low wages. Rather than buying shares, they are counting the cost of their kids’ involvement in out-of-school sports, they are depending on Foodbank and other hunger relief charities, they are praying that they can keep a roof over their heads, they are keeping the cheapest available second- or third-hand cars on the road and paying Trumpian prices for their petrol, and the last thing they are hoping is that Santos continues to expand.

 

And if there is a bursting speculative bubble, or a general stock market crash, all those little piggies will go “wee, wee, wee” all the way home.

 

Next time: Their word is your bond

 

Further reading: 

1. Can the credit bubble be stopped from bursting?

2. Financialisation: Fictitious capital and its real impact

 

SA’s OZASIA Festival Scrapped

Written by: Ned K. on 26 October 2026

 

(Above: the 2025 OzAsia Festival, photo by Yu Chu Chin, Creative Commons Attribution-Share Alike 4.0)

The annual OzAsia Festival in Adelaide is being scrapped by the SA Government's Adelaide Festival Centre, despite Premier Malinauskas speaking about the importance of immigration from Asian countries to the well-being of the economy.

The festival has been held each October since 2007. October 2026 is its last year. Each year (apart from Covid years) it has attracted up to 200,000 people and has been recognised as Australia's leading contemporary arts festival engaging with Asia. It has included Asian and Australian music, visual arts, literature, a large variety of Asian food stalls and a writing and ideas program called Weekend of Words. Weekend of Words provided the opportunity for Asian Australian writers, journalists, artists, political analysts, comedians to discuss with their audiences Australia's engagement with Asia.

The SA Government funds the OzAsia Festival to the modest amount of $40,000 per year. This is a small portion of the SA Government's $250 million funding of the Arts which recently has included renovations of the Adelaide Festival Centre and $200 million to the Adelaide Fringe Festival.

The 200,000 people per year visiting the festival has included people of diverse cultural backgrounds. 

Danielle Lim, leader of Contemporary Asian Australian Performance said about the scrapping of OzAsia Festival, "If you want to ask an Asian artist where they started, I think it's very likely to hear OzAsia", according to an ABC report.

The end of the OzAsia Festival also includes the end of its Weekend of Words, one of the last remaining live forums led by Asian Australian writers, journalists, scientists and media workers.

The closing down of Weekend of Words follows the banning of a Palestinian Australian writer from presenting at the Adelaide Festival of Arts Writers Week last year on the urging of SA Premer Malinauskas, and the subsequent closure of the Writers Week when the vast majority of participants pulled out in solidarity with author Randa Abdel-Fattah.

These politically progressive festivals have been scrapped despite South Australia having had an ALP government since 2002 except for the four-year term of the Marshall Liberal government from 2018 to 2022.

More government money has been directed to other events such as Liv Golf, MotorGP and Gather Round (AFL games). The costs of these events has been hidden by the arboricidal Premier behind “commercial in confidence” provisions, but they run into the hundreds of millions, dwarfing the paltry tens of thousands spent to hold the OzAsia Festival.

The SA government's priorities regarding events may attract a temporary increase in profits for hospitality and accommodation sectors of the economy but do nothing to improve the living standards of working people and nothing to strengthen cultural diversity within the state.

Capitalism denies the systemic basis of mental health problems

 Written by: Nick G. on 23 October 2026

 

(The system needs treatment.  Supplied,  AI generated)

Dr Helen Haines, the Independent MP for the federal seat of Indi, is a victim of the broken system of rural healthcare which she had fought to improve.

It has been revealed that Haines privately lobbied the prime minister for urgent rural health funding just five days before she is alleged to have been mowed down outside her electorate office by a man whose lawyer says is suffering from mental and chronic health conditions.

According to the ABC, “Ms Haines handed Anthony Albanese an annotated copy of the Forgotten Health Spend: A Report on the Expenditure Deficit in Rural Australia 2026 in a special crossbench catch-up with the prime minister last Wednesday to highlight a growing $2.7 billion expenditure gap between metropolitan and regional areas.”

Wangaratta local council health data shows 23.7 registered mental health clients per 1,000 residents, almost double the Victorian average of 11.9.

The gutting of mental health services

Federal Labor, which has embraced Liberal PM Scott Morrison’s scheme to bankrupt the nation by playing big boys with a handful of nuclear-powered submarines, has overseen cutbacks in rural mental health services.

Scientist Dr Ian Corbell told this morning’s AM radio program that has seen funding for mobile mental health treatment teams hollowed out since he worked in them in the 1990s.

He had warned in 2023 of a mental health crisis and further distressing incidents like the one in which two police officers had assaulted a naked and mentally disturbed woman in a street during daylight hours, spraying capsicum spray into her face and on her genitals, later boasting that they had emptied two canisters of spray on her.

Corbel expressed concern that police are not properly equipped to handle mental health crises and that their reactive, punitive approach would only exacerbate matters.

The situation in Australia has been allowed by government neglect and privatised services to mimic the US situation where the National Alliance on Mental Illness states that about “2 million times each year, people with mental illness are booked in our nation’s jails, often because communities rely on law enforcement to respond to mental health crises — and they lack the needed resources to truly support someone in crisis. It should not be the job of law enforcement to respond to health care crises, and people experiencing a mental health emergency deserve quick access to effective mental health care — just as people expect when experiencing physical health emergencies.”

McGorry denounces cutbacks

2010 Australian of the Year Professor Pat McGorry has been speaking out about the deliberate neglect of mental health services in Australia predicting the type of disasters such as the Bondi shopping centre and now the attack on Independent MP Helen Haines.

McGorry holds a highly critical view of the neglect of mental health services in Australia, characterizing the situation as a long-standing systemic failure that has been met with political complacency and, at times, deliberate misrepresentation of progress.

McGorry has argued that Australia's mental health system operates on a reactive "ambulance at the bottom of the cliff" model, where investment is disproportionately directed toward crisis support rather than early intervention. He has described the system as "Third World" and a "scandal," noting that the neglect is so severe that many mentally ill individuals end up in the prison system simply because there is nowhere else for them to go. 

He points out the stark funding mismatch: the federal government invests roughly $4 billion to $4.8 billion annually in mental health care, compared to the massive $12.2 billion allocated over the next 30 years for the AUKUS subs. In the wider defence context, in the 2026-27 Budget, the Department of Defence was allocated $44.2 billion, with an additional $15.3 billion for capability investment.

McGorry's most scathing recent criticism targets the Victorian government's handling of mental health reform following the landmark Royal Commission. In a prominent op-ed, he accused the government of "mass gaslighting" by claiming progress while the system deteriorates.

In summary, McGorry views the neglect as a persistent policy choice characterized by chronic underfunding, a failure to implement early intervention, and a lack of political will to follow through on systemic reform, resulting in avoidable human suffering and social costs.

Some have suggested Australia's spending on mental health is relatively low compared to other high-income, OECD nations. A 2026 news release cites a Murdoch University study stating that "Australia spends substantially less per person on mental-health care compared with other high-income nations".

A German comparative report (citing OECD data accessed in 2023) lists Australia's direct per capita spending on mental health at US$288.30 for the 2020-21 period, compared to US$2,231.20 for the Netherlands.

The system needs treatment

Even if the tooth fairy could wave a magic wand over the empty heads in government and opposition benches and see a release of needed funding, the fundamental approach to mental health under capitalism will not improve.

The ethics of bourgeois psychology upon which mental health services rest, treats patients at the crisis stage. As McGorry said, it is the “ambulance at the bottom of the cliff” approach which has been allowed to develop through the absence of preventative approaches which could have prevented the reaching of the critical stages.  

It deals with crises as the failings of the individual and as the personal problem of the individual, rather than as the failings of capitalist society and the social problems of the system as a whole.

We wish Dr Haines well in her recovery, but we do not wish the same for capitalism.

A system of socialist ethics guiding mental health services is one more reason for advancing to socialism.

Can the credit bubble be stopped from bursting?

Written by: Nick G. on 20 October 2026

 

(Above: Larry Ellison at an Exadata 2 launch in 2009.  Creative Commons Attribution 2.0)

 

 

Wouldn’t it be nice to be so rich that you could lose $6 billion in a single day, but still remain a billionaire?

According to a report in the Times of India, “Oracle co-founder Larry Ellison saw his fortune shrink by more than $6 billion in a single day as investors continued to dump Oracle shares amid growing concerns over the company’s artificial intelligence investments, rising debt burden and challenges facing key data centre projects.”

More than any other AI company, Oracle is pouring huge investments into AI projects including data centres, but funding this through mega loads of debt.

According to a report last year in the New York Times, Oracle’s debt-to-equity ratio “stood at 500 percent - meaning that it had $5 of debt for every $1 of shareholder equity.” By comparison, it said, Amazon’s was around 50 percent and Alphabet’s was even lower still.

The staggering sums involved, whether investor’s share capital or borrowings from banks, financial institutions or other AI corporates, remain entirely fictitious until future surplus value created by Oracle’s workers is realised as profits from sales of its products and services. 

Oracle’s share prices have plunged by 62 percent from their peak, destroying nearly $550 billion of the company’s fictitious capital. Approximately $875 billion of Oracle’s market capitalisation late last year has been reduced to $387 billion today as the gamblers in the share market casino lose their nerve.

In Australia, we have just seen what was promised to be Australia’s biggest IPO (initial sale of shares to the public) since Telstra collapse when investors failed to cough up $A7 billion for data factory company Firmus. 

News Corporation journalist Heath Parkes-Hupton correctly assessed the significance of the Firmus failure, writing that “The spectacular failure of neocloud start-up Firmus, previously the darling of Australia’s AI scene, has exposed the “cracks” in a trillion-dollar industry largely built on imagination.”

Capitalism is inherently unstable and the tendency for credit bubbles to burst is always present.

As the NYT said, “The A.l. boom has been a global phenomenon; an A.I. collapse would be as well.”

 

Manufacturing industry does not need AUKUS nuclear subs - independence for Australia

Written by: Ned K. on 18 October 2026

 

Workers in Australia have manufactured a vast range of products across many different industries for over 100 years. Since the destruction of the car and car component industries in Australia culminating in the closure of Mitsubishi, GMH, Ford and Toyota manufacturing plants since 2000, the major parliamentary parties at federal and state levels have embraced AUKUS and nuclear-powered submarine manufacturing and servicing in Australia as the saviour of manufacturing industries in Australia.

Prime Ministers Morrison and then Albanese and their Ministries have adopted the Margaret Thatcher approach of TINA (There Is No Alternative) to justify the millions of taxpayer dollars their governments have committed to the nuclear submarines manufacture and servicing in Australia. Supporting the US war machine has been prioritised at the expense of the interests and well-being of the Australian people.

Federal governments have found enthusiastic supporters at the State political level, especially in South Australia where the nuclear submarines are planned to be manufactured. 

They ridicule opponents of the AUKUS nuclear-powered submarines being built in South Australia as being not only "against the national interest" but also sabotaging the development of a skilled manufacturing workforce in Australia (and SA in particular) that the building of nuclear-powered submarines will deliver.

At the State and Federal levels, the ALP annual conferences pass resolutions to this effect, despite a growing number of ALP sub-branches passing resolutions opposing AUKUS and the whole nuclear submarine project at the Osborne Naval Shipyard in South Australia.

Former ALP leaders like Paul Keating are marginalised and ignored for speaking out against AUKUS and the nuclear submarine project.

THERE IS AN ALTERNATIVE

Some of the ALP pro-AUKUS leaders say that people even within their own ranks have no manufacturing alternative for Australia, that building AUKUS nuclear-powered submarines is the only way for Australia to have a manufacturing base.

What are the facts?

There is a great variety of manufacturing industries in Australia that are not connected or dependent on nuclear powered submarines. Below are just a sample of these industries

Biotechnology and Biopharmaceutical
Industrial and Engineering Manufacturing
Consumer Products and home Automation Systems
Transport Engineering
Metal Fabrication Services
Electrical Equipment
Housing Construction 
Rail and Bus Transport
Steel Works
Mining Equipment
Food Processing Manufacture

All these industries provide employment opportunities and develop transferable skills for workers.

According to government and industry web sites, in 2026 there are approximately 930,000 workers employed by manufacturing companies in Australia.

Out of these 930,000 workers, 112,918 are employed in defence-related manufacturing.

In South Australia, the central part of the AUKUS nuclear submarine project, there are 66,716 workers employed by manufacturing employers.

Of these 66,716, 11,000 are employed in defence-related manufacturing.

Of the 112,918 defence -related workers nationally and the 11,000 defence-related workers in SA, all of them could and should be employed on projects that effectively defend Australia as an island continent and country. They have skills that can manufacture land, air and sea-based defences of the country. They also have transferable skills to manufacture for example, Australian-made public transport, hospital equipment, renewable energy systems, more aged care facilities and much more.

In the period 1939 to 1945, large manufacturing plants such as GMH and Ford were converted to produce different products due to the war. This was done very quickly, and it was Australian workers who had the transferable skills to meet the new demanded products. 

That historical example shows how false is the claim by political leaders who say "there is no alternative" other than AUKUS and its nuclear-powered submarine project.

 

Report on Boorloo/Perth’s Anti-War Week

 Written by: Sand G. on 15 October 2026

 

(Photo supplied)

On Tuesday 6 October, thousands of Perth workers took to the streets to protest the city hosting a conference for the buyers and sellers o

f tools used to kill workers overseas, known as the Land Forces Defence Exposition. 

The workers on the street were furious that the city would spend millions of dollars to provide a ‘safe space’ for arms dealers that are profiting from ongoing genocide and imperialist conflict. From its outset, this protest was always marketed as a peaceful demonstration aimed at disrupting the dealings of war profiteers and showcasing to the world that WA workers won’t be complicit in fuelling the death of their comrades overseas. 

However, this didn’t stop the WA Government and WA Police from boasting of their heavy-handed response to ‘show their force’ against the people. In the weeks leading up to the protest, the WA Government bragged of passing draconian anti-protest laws, allowing the police to utilise AI facial recognition on citizens with no privacy restraints, excluding Western Australians from parts of their own city, and a massive expansion of police detention powers. The WA Police loudly boasted of the $11.5 million spent on their ‘largest police operation in WA history’. 

This ‘largest police operation in WA history’ was targeted against peaceful protesters marching in their own streets, allowing lazy cops to sit in their trucks just to make merchants of death feel safe. $11.5 million was spent on a show of force against the people, all while more WA workers are going homeless, more WA kids are living in cars, and regional WA towns are sinking further and further into crises. 

On Wednesday 7 October, the International League of Peoples’ Struggle held a ‘Peoples’ Expo’ alongside other organisations including Stop AUKUS WA and the Anti-War Collective. At this event, the host discussed how the same weapons that were being bought and sold at Land Forces in Perth were used against people in the Philippines, while other speakers talked to Australian workers becoming caught up in genocidal wars of U.S imperialism without our consent. 

In response to the blatant oppressive measures the WA Government used against the people, and their willingness to spend millions of dollars against a peaceful protest while kids go hungry, participants at the Peoples’ Expo discussed expanding the fight against the capitalist class across a number of organisations. 

The WA Government and international imperialists were ready to dish it out, but workers are ready to give it back. WA workers that want to join the fight against capitalists profiting from genocide are encouraged to contact the WA branch of the CPA (M-L) or the International Leage of Peoples’ Struggle. 

The following Sunday, a crowd numbering in the thousands gathered in Boorloo to unify their voices in calling for support of the Palestinian people, an end to diplomatic relations with the Zionist regime of “Israel”, and an end to a horrific genocide that has been perpetrated for 78 years. 

Unionists and students, teachers and mothers, workers of many stripes all across WA came together once again to protest the brutal crimes of the state of “Israel” and the support of the Albanese Labor government. 

The CPA (M-L) continues to support the Palestinian struggle — we cannot and will not rest until the people of Palestine and all those oppressed and toiling masses across the world are free from the yoke of imperialism-capitalism. 

Free free Palestine, from the river to the sea.