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Guangming Daily: The American Capitalist System Is to Blame for the U.S. Debt and Credit Crisis

A Guangming Daily commentary article, titled “Why the U.S. Government Is Not Reliable,” harshly criticizes the American capitalist system. The article ascribes blame for the U.S. debt and credit crisis to the crisis of the American capitalist system and states that the “American train” has been on the wrong track for a long ago. It says, “It is time for the U.S. government, the parties, and politicians in Congress to wake up. You political elites representing one percent of American rich people should have the courage to take the blame for the system’s failure and do some deep self-reflection and self-examination."

The article concludes by saying, “To the people of the U.S., the American dream is a myth — a myth in which one percent of the rich people cheat all the ordinary civilians. To the people of the world, the American political system and currency system are also a myth — one in which the White House cheats the whole world. The American people and the people of the whole world have been kidnapped by the American dream and the American capitalist system. American capitalism has not only lost its stature, but also its moral ground.”

Source: Guangming Daily, August, 11, 2011