The subprime mortgage crisis that erupted in the United States has transformed into a global financial crisis. This crisis, which is being spun as a simple recession, is in fact one of the most serious crises since the 1929 Great Depression. As such, capitalism, on the brink of bankruptcy, has called on the State for help and is demanding that workers pay for the crisis by having their income reduced. As we can see by the rising numbers of unemployment and households struggling to survive, no one is left unharmed.
Numerous experts and economists have intervened to offer solutions that would, they hope, rehabilitate capitalism. They argue that the causes of this disaster are outside or foreign to capitalism. We do not agree. Let's be clear and identify what we believe are the true reasons behind this crisis that affects us all.