San José, CA – More cracks showed up in the U.S. economic expansion as the May employment report saw a gain of only 75,000 net new jobs, less than half what most economists expected. In addition, the Labor Department revised the job creation numbers down by 75,000 for March and April. Over the last four months the economy has added new jobs at a rate of 130,000 per month, much less than the 223,000 new jobs added each month on average in 2018.

Minneapolis, MN – “The area we were in was an opposition neighborhood, but nobody’s leaving their houses. The news in the U.S. is saying people are flocking to the streets because they’re ‘being liberated’, but no one’s leaving their houses. It was so untrue it was shocking,” said Tracy Molm, to about 40 community members gathered to hear her firsthand account of the events of April 30 in Caracas, Venezuela.

San José, CA – On Tuesday, May 7, the Dow Jones Industrial Average (DJIA) fell almost 500 points, or close to 2%. This came following President Trump’s tweets on Sunday threatening to escalate the trade war with China on Friday if he couldn’t get a trade agreement done. While the U.S. stock market largely shrugged off this news on Monday, statements by his economic advisors convinced investors that his threats are for real.

San José, CA – On Friday, April 26, the Bureau of Economic Analysis (BEA) issued its first report on economic growth in 2019. The country’s Gross Domestic Product, or GDP, which measures the total production of goods and services, grew at a 3.2% annual rate during the first three months of the year (January to March). This was stronger than most economists expected.

San José, CA – On April 21, the Trustees of Social Security and Medicare released their annual report. The report includes a projection that the Social Security benefits will be greater than income next year for the first time since 1982. The Social Security trust fund, which has grown to almost $3 trillion, will start to be tapped for the first time.

To mark the April 22, 1870 birthday of Russian revolutionary Vladimir Lenin, Fight Back News Service is circulating the following excerpt from his 1918 book, The State and Revolution.

San Jose, CA – Friday, March 22 was a day of good news, bad news, and ugly news.

Tampa, FL – United Parcel Service released their fourth quarter earnings last month, beating Wall Street’s expectations with almost $5 billion in profit for 2018. Through a combination of opening new automated sorting facilities, purchasing more air cargo planes, and exploiting employees with low pay and long hours, UPS had an extremely profitable holiday season. The company is optimistic for profits in 2019 and moving into the future. For workers, however, the future does not look so bright.

Bust follows boom under capitalism

San José, CA – The New Year is starting off much the way 2018 ended: with U.S. stocks being hammered again. On Thursday, January 3, the Dow Jones Industrial Average (DJIA) fell more than 600 points, the technology heavy NASDAQ fell more than 200, and the broad S&P 500 fell more than 60 points. All the averages fell more than 2% to put the year into the red.

Trump administration makes bad situation worse

San José, CA – On Monday, December 24, all three major stock market indices smashed the old records for declines on Christmas Eve. The Dow Jones Industrial Average (DJIA) fell more than 650 points or 2.9%, more than twice the 100 year record set back in 1918 when it fell 1.1%. The broader S&P 500 fell 2.7%, to close more than 19% from its record high, and less than 1% away from the 20% drop that would put it in bear market territory and ending an almost ten-year bull market in stocks.

Capitalism’s cycle of boom and bust continues

San José, CA – Casting a shadow on the stock market are the growing number of economic statistics that point to a recession in 2019. Almost all mainstream economic forecasters expect economic growth to slow down in 2019 as the impact of the 2018 tax cuts wear off; the forecast is for 2.4% growth, about the same as in 2017. But few predict a recession.

San José, CA – On Friday, December 21, stock prices fell again, capping the worst week on Wall Street in ten years. Typically, stock prices go up in December, in what many call a “Santa Claus rally.” But not this year. The NASDAQ stock index, which includes many big technology companies, fell 3%, to end 22% below its August high, putting it in bear market territory for only the second time in the last 20 years. The NASDAQ joined the Russell 2000, a stock index of smaller corporations, which went into bear territory earlier in the week. The headline Dow Jones Industrial Average (DJIA) of 30 large companies, and the broader S&P 500 of 500 major corporations also declined to levels just short of a bear market.

_Worst December since Great Depression _

San José, CA – On Monday, December 17, U.S. stocks continued to drop. The widely quoted Dow Jones Industrial Average (DJIA) fell more than 500 points, or 2%. The broader S&P 500 and the tech-heavy NASDAQ also fell more than 2%. All the major stock indices are now down in double digits from their record highs this year, and the Russell 2000, an index of smaller companies, is now in an official ‘bear market,’ as it fell to a level more than 20% below its all-time high. U.S. stocks are deeper in negative territory for the year and have had their worst December since 1931, during the Great Depression.

Leader of Marxist-Leninist Party of Germany (MLPD) speaks on political situation

Fight Back! interviewed Gabi Fechtner, Chairwoman of the Marxist-Leninist Party of Germany (MLPD), on the fight against the ultra-right in Germany and the current political situation.

San José, CA – On Friday, December 7, the Department of Labor released its report on the job market in November. There was a net gain of 155,000 jobs, less than the predicted 200,000 and less than the average gains for the first ten months of the year. While the official unemployment rate stayed the same at 3.7%, the broadest measure of unemployment, which includes part-time workers who can’t find full-time work, ticked up to 7.6%, more than twice the official rate.

Wall Street likes the news

San José, CA – On Monday, November 26, General Motors announced that it was cutting 15,000 jobs. Their plans include closing five auto and auto parts plants in the United States and Canada. Wall Street liked the news, and GM’s stock rose almost 5%, three times as much as the broader stock market. But for thousands of GM workers, the holidays suddenly became much bleaker.

San José, CA – Stocks fell again on Friday, November 23, pulled down by the falling price of oil. The broadest major stock market index, the Standard & Poor’s 500, which measures the prices of 500 large U.S. corporations, officially entered correction territory, by closing more than 10% below its all-time high. This has been the worst week for the stocks in the S&P 500 in 80 years.

Tallahassee, FL – On November 7, students, activists and community members from around the Tallahassee area gathered at The Plant Arts Center to celebrate the 101st anniversary of the 1917 October Revolution in Russia. The event was organized by the Freedom Road Socialist Organization (FRSO).

San José, CA – U.S. stocks couldn’t hold on to early gains, November 21, as their attempt to bounce after two days of large losses largely fizzled. The Dow Jones Industrial Average, which had gained more than 200 points in early going, actually ended with a tiny loss, while other averages were able to hold on to small gains of less than 1%. Despite this break from heavy losses, the U.S. stock market is off to its worst start for the third quarter (October to December) since the 2008 financial crisis.

San José, CA – On Friday, October 26, the U.S. stock market fell again. The broadest measure of U.S. stocks, the S&P 500, which measures the prices of 500 of the largest corporations in the United States, fell 1.7%, ending the day below where it started the year in January. One of the hardest hit stocks was Amazon, which fell almost 8% on Friday, down nearly 20% since it hit a high in September, giving the corporation a market value of $1 trillion.