Pyongyang, October 17 (KCNA) -- The crisis of capitalism is getting serious in all aspects.

Working people throughout the world have turned out in the struggle to break the chains of capital.

The working masses' struggle, staged against capitalism all at once across the world on Oct. 15 and 16, was the biggest organized one unprecedented in history of capitalism spanning more than 300 years. Taking part in the struggle were millions of people from all walks of life in more than 1 500 cities in 80 odd countries.

This struggle was erupted at Wall Street in Manhattan of New York in the United States, the heart of the capitalist economy and a synonym for monopolistic capital. Under the slogan of "Occupy Wall Street!" the protestors set up tents outside a stock exchange in New York to go into an action of protest. This turned in a twinkle to a chain movement across the U.S.

The Occupy Wall St movement was an eruption of the exploited classes' pent-up wrath at the exploiters. It was also an expression of the will to remove the stronghold of capitalism as a whole which brings only exploitation, oppression, unemployment and poverty to the popular masses.

The protesters are now expanding their ranks after setting forth such slogans clearer in nature as "equality, democracy and revolution".

Ruling quarters in the U.S. are crying in distress that the "class struggle has been launched."

The U.S. chief executive formally recognized that this is a manifestation of feeling of frustration toward the U.S. society.

The American protestors set October 15 as "day of international movement", calling on the working people the world over to respond to it.

In response to this call anti-capitalist demos took place all at once in Britain, Italy, Germany, Spain, France, Belgium, Australia, Japan, Philippines, Taiwan, etc. on October 15 and 16. Their participants demanded final end to poverty and economic inequality, chanting such slogans as "Reject capitalism!" and "Give us jobs!"

In south Korea more than 400 civic and public organizations and workers' organizations launched protest, chanting "Occupy Seoul!"

These unprecedented actions of the working masses in capitalist countries are attributable to the extremely acute socio-class contradictions created after the outbreak of the global financial crisis in 2007.

The capitalist market economy is now on the point of total bankruptcy, embroiled in a new financial panic by protracted economic crisis.

There happened an unprecedented situation in which stock fell hard all at once at securities markets in various parts of the world. The situation was attributable to the unprecedented state debts in the U.S. and Europe caused by the serious financial economic crisis.

According to data, European banks, which bought national bonds issued by Eurozone countries suffering from the debt crisis, may sustain losses of 300 billion Euros in maximum.

As regards the gloomy monetary situation in Western countries the Organization for Economic Cooperation and Development said that the capitalist economy would not escape from the stagnation not only in 2011 but in 2012.

The facts show that the capitalist market economy is steadily falling down into the maw of total bankruptcy due to its anarchy and spontaneity.

There is no other way out of the present crisis of capitalism but to remove its system to the full. Capitalism is vanishing from the stage of history since it has served to exploit the people and forsaken them.

The Western countries can never get rid of the vicious cycle of crisis with any means as long as the capitalist market economy is left intact.

Foreign news reports say that the impact by financial and debt crisis is bringing to Europe's party politics and ideological trend of its society the most serious change since the end of the Cold War.

In Latin America many countries more strongly call for rejecting the capitalist market economy and taking to the road of socialism and leftist governments' influence is growing stronger with each passing day.

With the passage of time the capitalist corruptness and falsity are brought to bolder relief and illusion about capitalism vanishes like a bubble by the rapid current.

The idea reflecting the desire of humankind to live and develop in an independent way has become more vital. The truth of socialism is clearly evidenced in a new historic environment in the 21st century.

The future of mankind is ensured by socialism based on science.

Invincible is socialism belonging to the Korean people, the popular masses and the world people.