Pyongyang, October 19 (KCNA) -- The crisis of capitalism is getting more serious in all aspects.

The structural contradiction and moral taint of capitalist society, full of deception, fraud, hypocrisy and vanity, have been brought to light.

The financial crisis caused by the market economy of capitalism drives the world into uncontrollable confusion.

The working masses' struggle, staged against capitalism all at once across the world on Oct. 15 and 16, was the biggest organized one ever in the 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.

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. The protestors contended that the blame for the capitalist economic crisis is on the greedy financial capital and corrupt politicians. They 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 unprecedentedly big actions of the working masses against the exploiting classes in capitalist countries were attributable to the extremely acute socio-class contradictions created after the outbreak of the global financial crisis in 2007.

Various relief measures taken by the Western countries after the financial crisis were, in essence, for saving the big monopolistic capitals on the maw of bankruptcy. Those steps deepened concentration of capital only on big monopolistic enterprises while further deteriorating the life of the overwhelming majority of popular masses.

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

Stocks fell hard at the global financial markets, causing such serious upheaval as rise and fall in quotations of major currencies.

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

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

The only way out of the present crisis facing the capitalist world is to root out its system.

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.

History never flows as wished by the imperialists and reactionaries.

Foreign media report that the shocking 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.

Socialism is the most scientific, just and worthwhile way that helps bear good fruition without fail.

As clarified by leader Kim Jong Il, socialism is a science.

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