AFTER the relentless hype about Bitcoin and other cryptocurrencies such as Ethereum, Solana, Dogecoin, LUNA, etc., for the last couple of years, we are now witnessing their complete meltdown. The hype was primarily driven by eye-popping increases in valuations of all the major cryptocurrencies. Bitcoin had gone from around USD 4,000 to USD 64,000, a sixteen fold increase, in 20 months. Other cryptocurrencies had even more ridiculous price increases in the same time period – Ethereum had a 50 fold increase, Solana 500 times, and LUNA had a 1,000 times increase.

CENTRAL banks all over the capitalist world are raising, or are about to raise, interest rates as a means of countering the currently rampant inflation, which is certain to push a world economy that is barely recovering from the effect of the pandemic, back towards stagnation and greater unemployment.Of course the Federal Reserve Board of the US which sets the standard in this respect for all other central banks, claims otherwise.

THE “State of Inequality in India Report”, by the economic advisory council to the prime minister (EAC-PM), was released on May 18, 2022. The report prepared by the government body itself has highlighted that while the top 10 per cent of the Indian population accounts for one-third of all incomes earned, the income share of self-employed workers who are also the highest in number among the whole employed categories (45.78 per cent), happens to be the lowest.

ON May 25, a delegation led by CPI(M) Assam state secretary Suprakash Talukdar, Central Committee Member Isfaqur Rahman and MLA Manoranjan Talukdar visited Shalonabori village at Batadrava area under Nagaon district to look into a case of alleged custodial death and police brutality.On May 20, Shafiqul Islam, a poor businessman and a resident of Shalonabori village, was arrested by the police on charges that are unclear. Later, the police reportedly demanded Rs 10,000 for releasing him and when that demand was not met, he was reportedly killed while in custody.

THE 12th national convention of All India Coordination Committee of Working Women (CITU) held on 21-22 May 2022 at Ranjana Nirula Nagar, Nisha Roy- Shibani Sengupta Manch, Tagar Dey Hall (Binani Bhawan), Kolkata, West Bengal resolved to intensify struggles against the increasing exploitation and discrimination on women in general and working women in particular.On the occasion of the national convention, a public meeting was held on 20 May at Posta, Kolkata. The rally which was organised locally was attended by more than thousand working women and hundreds of local workers.