The current global financial crisis starting with the subprimecrisis in the US is by no means new in the history of capitalism yetoutreaching its precedents to the degree that it is recognized as theworst one since the Great Depression of 1929. Despite theattempts of the US Treasury, Federal Reserve and mainstreameconomists to constrain the current crisis in the financial realm, itmanifests the structural problems of the real economy, which areno longer possible to ignore. The long-term problems in thecapital accumulation and the weakening of aggregate demandmade advanced economies far less dynamic and more vulnerableto crisis as such over the last thirty years. The crisis in the financialmarkets made these problems visible, while this crisis was not thereal cause of those problems. In late 2007, the housing bubble inthe USA started to deflate, the sub-prime mortgage crisis began tohit the major Wall Street Investment Banks, and the recession inthe US economy was on the way.