John Keeley @duvinrouge.bsky.social · 04/10/2026critiqueofcrisistheory.com/a-marxist-gu...critiqueofcrisistheory.comSection 1: Crisis TheoriesA Marxist Guide to Capitalist Crises “A Marxist Guide to Capitalist Crises,” an eBook created from the key posts on the Critique of Crisis Theory blog, is currently in production. We’ll be sharing … 000 0
John Keeley @duvinrouge.bsky.social · 25/09/2026The sovereign debt crisis is here... www.wsws.org/en/articles/...wsws.orgBond markets in a “meltdown”The yield on the 10-year bond rose 0.15 percentage points on Wednesday and then followed this with a further increase of 0.11 percentage points yesterday, taking it to 5.23 percent, with no indication... 000 0
John Keeley @duvinrouge.bsky.social · 24/09/2026www.wsws.org/en/articles/...wsws.orgPressures building up in yen carry tradeMoves to arrest the slide of the yen can cause another problem by undermining the so-called yen carry trade, which plays a major role in US financial markets. 001 0
John Keeley @duvinrouge.bsky.social · 22/09/2026A good overview of where we are by Nick Beams... www.wsws.org/en/articles/...wsws.orgA gathering crisis in the US financial systemLast week the interest rate on the 10-year Treasury bond went over 5 percent for the first time since 2007 under conditions where the national debt has risen fourfold since then and now stands at over... 000 0
John Keeley @duvinrouge.bsky.social · 10/09/2026A $1.2 trillion bribe. Let's hope the Americans vote Republican & destroy King$. 000 0
John Keeley @duvinrouge.bsky.social · 09/09/2026www.wsws.org/en/articles/...wsws.orgJapanese yen turbulence continues to threaten global financial marketsA rise in Japanese interest rates may halt the yen’s slide but set off a disorderly unwinding of the so-called “carry trade.” 000 0
John Keeley @duvinrouge.bsky.social · 09/09/2026Capitalism is the cause of mass migration. This has three main aspects: 1. Wars & conflicts due to imperial plunder, e.g. Iraq war for oil 2. Gross inequality due to imperial plunder, e.g. natural resources of most of Africa 3. Harvest failure due to climate change 021 0
John Keeley @duvinrouge.bsky.social · 27/08/2026"Daron Acemoglu, who won the Nobel Prize in 2024, is no heterodox economist. But now The Economist magazine has damned his work, because it challenges the untrammelled power of Big Tech elites." jacobin.com/2026/08/acem...jacobin.comFor The Economist, Mentioning Workers’ Interests Is HeresyDaron Acemoglu, who won the Nobel Prize in 2024, is no heterodox economist. But now The Economist magazine has damned his work, because it challenges the untrammeled power of Big Tech elites. 010 0
John Keeley @duvinrouge.bsky.social · 20/08/2026"And a new stage is now being reached—the onset of a debt spiral in which more money must be borrowed just to pay the interest bill on past borrowing." www.wsws.org/en/articles/...wsws.orgUS debt at $40 trillion as financial crisis deepensThe most revealing feature of the debt mountain is not just its size, significant as that is, but the speed with which it has grown. 000 0
John Keeley @duvinrouge.bsky.social · 18/08/2026The USA thought they could do regime change. Their war may result in regime change for their puppet Gulf monarchies. 000 0
John Keeley @duvinrouge.bsky.social · 16/08/2026thenextrecession.wordpress.com/2026/08/15/p...thenextrecession.wordpress.comPart three – a value theory of inflationIn this post, I return to my review of the theories of the causes of inflation in modern economies. In the first part, I discussed the mainstream theories; in the second part, I discussed het… 010 0
John Keeley @duvinrouge.bsky.social · 09/08/2026Phases of the Industrial Cycle Overproduction is initially disguised by the growing inflation of credit. More & more commodities are being sold on credit. Late payments increase & debts are ‘rolled over’. Credit suddenly dries up www.johnkeeley.com/other-people...johnkeeley.comPhases of the Industrial Cycle | John Keeleytrying to understand! 000 0
John Keeley @duvinrouge.bsky.social · 08/08/2026The credit system splits surplus value between interest & profit. What determines this relative split? www.johnkeeley.com/other-people...johnkeeley.comThe Rate of Interest & Profit of Enterprise | John Keeleytrying to understand! 000 0
John Keeley @duvinrouge.bsky.social · 07/08/2026Under capitalist production, the value of a commodity can never be measured directly in terms of hours of abstract human labour but must take the form of exchange value. The exchange value of a commodity is always measured in the use value of another commodity. www.johnkeeley.com/other-people...johnkeeley.comMoney | John Keeleytrying to understand! 000 0
John Keeley @duvinrouge.bsky.social · 07/08/2026"the operation was more about the stability of the dollar and US financial markets than it was about problems for Japan caused by the fall in the value of its currency." www.wsws.org/en/articles/...wsws.orgYen intervention points to US financial vulnerabilitiesThere was growing concern that the selling of Treasuries by Japan to support the yen would lift US interest rates and impact the AI stock market boom. 000 0
John Keeley @duvinrouge.bsky.social · 05/08/2026Capitalist production is unplanned & therefore partial crises of under or overproduction are possible. Mainstream economics has the cobweb theory for agriculture, where wrong price signals sent from market cause prices to move more & more from equilibrium. www.johnkeeley.com/other-people...johnkeeley.comDisproportionality | John Keeleytrying to understand! 000 0
John Keeley @duvinrouge.bsky.social · 03/08/2026Marx described the tendency for the rate of profit to fall as the most important law of political economy. That capital accumulation itself undermines the capitalist system. www.johnkeeley.com/other-peoples-ideas/sam-williams/falling-rate-of-profit/johnkeeley.comFalling Rate of Profit | John Keeleytrying to understand! 000 0
John Keeley @duvinrouge.bsky.social · 02/08/2026Crises are possible at each point in the process. Underconsumptionists emphasise the problems realising surplus value, whilst profit squeeze theorists the problems producing it. www.johnkeeley.com/other-people...johnkeeley.comProfit Squeeze | John Keeleytrying to understand! 000 0
John Keeley @duvinrouge.bsky.social · 01/08/2026www.johnkeeley.com/other-peoples-ideas/sam-williams/underconsumption/johnkeeley.comUnderconsumption | John Keeleytrying to understand! 000 0
John Keeley @duvinrouge.bsky.social · 31/07/2026There are regular economic crises under capitalism of varying degrees, how do we explain them? www.johnkeeley.com/other-people...johnkeeley.comThe Problem | John Keeleytrying to understand! 000 0
John Keeley @duvinrouge.bsky.social · 21/07/2026The Trouble with Pigs www.johnkeeley.com/the-trouble-with-pigs/ 000 0
John Keeley @duvinrouge.bsky.social · 16/07/2026Printing more money just 'kicks the can down the road' & creates an even bigger problem to eventually be addressed. After more than half a century of fiat money, capitalism now faces its biggest crisis. 000 0
John Keeley @duvinrouge.bsky.social · 16/07/2026The chain of credit breaks, fictitious capital along with real productive capital gets devalued & we have a recession. The law of value reasserts itself & prices are brought back into line with values. 100 0
John Keeley @duvinrouge.bsky.social · 16/07/2026People & organisations are paying with credit that has no basis in realised labour values, & will never be realised. 100 0
John Keeley @duvinrouge.bsky.social · 16/07/2026It is this overproduction that allows production to grow temporarily beyond what the market can realise in the longer run (the credit system separates the act of purchasing from the act of paying). 100 0
John Keeley @duvinrouge.bsky.social · 16/07/2026It was Marx that led the way of integrating labour values with the market. Das Kapital shows how 'labour values' become 'prices of production', which become 'market prices', & how these prices in aggregate can become inflated by excessive credit - crises of 'overproduction'. 100 0
John Keeley @duvinrouge.bsky.social · 16/07/2026The classical economists were getting close with their concept of 'natural prices' & 'market prices'. Although based upon labour time, they wrongly used individual commodity labour times rather than a concept of how much individual commodities could command of society's limited labour time. 100 0
John Keeley @duvinrouge.bsky.social · 16/07/2026They never learn, do they? What is the explanation for capitalism's repeated crises? We have 'external shocks', Keynesian 'poor animal spirits', 'greedy bankers', 'central bank mismanagement' etc. All fail because economics has a flawed subjective theory of value (marginalism). 130 0
John Keeley @duvinrouge.bsky.social · 16/07/2026He can if he taxes the rich & makes sure they pay their taxes. 011 0
John Keeley @duvinrouge.bsky.social · 16/07/2026johnkeeley.comA Beginner’s Guide to Marx’s Capital | John Keeleytrying to understand! 000 0
John Keeley @duvinrouge.bsky.social · 15/07/2026It needs to tax the rich & make the rich pay their taxes! 000 0
John Keeley @duvinrouge.bsky.social · 13/07/2026www.counterfire.org/article/why-...counterfire.orgWhy Marx’s dialectic is so dangerousThe method of historical materialism has always been an anathema to the apologists of capitalism. 000 0
John Keeley @duvinrouge.bsky.social · 12/07/2026Only when we have a worldwide revolution will humanity have any chance of building real democracy based upon social/common ownership of the economy. And then only the possibility of being able to do so on a ecologically sustainable basis. 000 0
John Keeley @duvinrouge.bsky.social · 12/07/2026This comes back to the problem of trying to build socialism/communism in one country. Trying to stand against imperialists results in either a one-party dictatorship or defeat. 100 0
John Keeley @duvinrouge.bsky.social · 12/07/2026A group of people calling themselves socialists/communists & substituting themselves for the people is not democracy, & not socialism/communism. 100 0
John Keeley @duvinrouge.bsky.social · 12/07/2026Socialism/communism means social/common ownership of the economy. For that to be the case the economy has to be democratically planned. There can be no socialism/communism without democracy by definition. 100 0
Reposted by John KeeleyDavid Harvey @davidharvey.org · 09/07/2026Problems have solutions. Contradictions do not. They are permanent points of tension that can only be managed within the system in which they are embedded. They only go away when the system as a whole disappears. jacobin.com/2026/07/marx...jacobin.comWhat Everyone Should Know About How Capital WorksMainstream economics cannot accept the concept of contradiction that is foundational for Karl Marx’s analysis of capitalism. David Harvey explains why we need the Marxist perspective if we want to mak... 0237 0
John Keeley @duvinrouge.bsky.social · 07/07/2026critiqueofcrisistheory.com/2026/07/05/w...critiqueofcrisistheory.comWhy Trump retreated from all-out war with IranOn June 17, a Memorandum of Understanding (MOU) was signed by Iranian President Masoud Pezeshkian and Donald Trump. It extends the April ceasefire for at least sixty days — with the possibility of … 000 0
John Keeley @duvinrouge.bsky.social · 04/07/2026Americans are learning 250 years after the Declaration of Independence that there can only be democracy when there is economic democracy. All men are not born equal; some are born to the rich, some to the poor. 000 0
John Keeley @duvinrouge.bsky.social · 13/05/2026There's no Volcker this time to save King $ & a new international monetary system is being built by BRICS+. After half a century neo-liberalism has reached its end. 000 0
John Keeley @duvinrouge.bsky.social · 13/05/2026Now we have slumpflation & the likely popping of the biggest asset price bubble in history. The asset price bubble that has given US finance capital its profits & so world power. That bubble has ultimately rested upon the creation of ever greater amounts of US govt debt. 100 0
John Keeley @duvinrouge.bsky.social · 13/05/2026The stagflation of the 1970's was more to do with the end of Bretton Woods than just the oil embargo. That time it took the high interest rates of the Volcker Shock to break gold & save King $. 110 0
John Keeley @duvinrouge.bsky.social · 09/02/2026The ruling class have never been more vulnerable. Bring them down! 000 0
John Keeley @duvinrouge.bsky.social · 28/01/2026I always secretly hoped Trump would win the presidency. I knew it wouldn't be good for Americans, but for the rest of the world he would be a catalyst for the end of King $ & so the US world empire. Didn't think he would do it in a year though. 000 0
John Keeley @duvinrouge.bsky.social · 23/01/2026King $ funds US military might, & military might enforces King $. If the rest of the world wants to free itself from the US empire then it needs to stop funding it. 000 0
John Keeley @duvinrouge.bsky.social · 15/01/2026The US president is half Mussolini, half Jimmy Saville. It would be funny if it wasn't so serious. 000 0
John Keeley @duvinrouge.bsky.social · 11/01/2026250 years later Britain is the colony that needs to declare independence. 000 0
