time to say something worth conversing with perhaps, after admiring this website already for long enough of my library booking time:

I wonder if anybody else with a Marxist economic analysis could comment about this observation:
an Israeli socialist friend, recently mentioned, that Australia is the only nation in the world who could be raising interest rates now, and thereby keeping up inflation and not letting unemployment figures get too bad.

I thought about it a while, and then put that information together with the "theory of the tendancy for the rate of profit to decrease", and also obviously Trotsky's theory of permanent revolution. . . .

. . . is it true, (and are there Marxist economists out there who can number crunch it-> or algebra the finer details), that there has to be, at all times, one national economy which is responding to the international money markets in the way Australia is at present? To ask that question another way: are our interest rate rises, a part of the proof of the pudding of Marxist economics? But in an inside out sort of a way?

Are this the preconditions for real social economic change: that we have both rising interest rates, and therefore the potential for sudden economic depression; and also a situation of economic support for low unemployment being sustained, which enables more folk to be more educated, and more accustomed to accessing affluence, but such that we'll all feel it hard when the gears shift, and the unemployment suddenly goes up with prices, at the time when interest rates have to come back down to save the banks.

I think we call all thank Good ole George Bush and the Sub-Primers (his own family company among) for this neat predicament.