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Iran's supreme leader: Meltdown marks fall of capitalism

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Iran's supreme leader: Meltdown marks fall of capitalism

3News NZ

Ayatollah Ali Khamenei

Ayatollah Ali Khamenei

Iran's supreme leader has called the West's financial crisis the end of US domination of the world economy.

Ayatollah Ali Khamenei says "the false bubble of money in the West has broken" and the meltdown marks the fall of Western capitalism.

Khamenei has final say on all state matters in Iran and his remarks were carried on state television Monday.

Despite devastating losses in the international stock markets, Tehran Stock Exchange remained stable, mostly due to isolation of Iran's financial market.

Iran is worrying about falling oil prices due to a decline in demand amid the worsening global economy.

AP

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Comments

15/10/2008 9:48:57 a.m.

dan wrote:

The oil producing countries have caused this financial meltdown . Has anyone wondered how well it was orchestrated . First the oil demand was artifically increased through speculators , then the OECD and western counries faced their own people striking on account of increases in costs of living and finally they used the very same monies mooched from us toi buy back the now broken finance giants . How dumb are these world leaders . It is high time we moved away from oil in all respects , for power , fuel , consumption as it is proven scientifically that the earth and its people are suffering on account of oil . Alternative energy sources are desperately needed .

14/10/2008 10:22:39 a.m.

Doppleganger wrote:

I agree Harry. I have no problem with making money to provide a living. But there are too many out there who have billions and millions, and you just don't need that much to have a good life. Whilst the minority have the wealth the majority go without. Capitalism has gone crazy. As an example why does Johnny Depp need $54 million dollars to make another 'Pirates' movie - can't he get by on say $75,000?

14/10/2008 8:05:04 a.m.

harry wrote:

Will this be such a bad thing.Too many people are ammassing many millions while others die because they cant afford $3 worth of medison. capitalism has become incidious. There is only so much money availiable and if one individual is a billionair others must go whithout to the point of death