Global capitalism is near death, which is why the world needs a new economic system, according to Iranian President Mahmoud Ahmadinejad. The Iranian leader made the declaration in a speech Tuesday at a U.N. General Assembly session on poverty.

"The discriminatory order of capitalism and the hegemonic approaches are facing defeat and are getting close to their end," Ahmadinejad said in comments cited by Reuters.

"The undemocratic and unjust governance structures of the decision-making bodies in international economic and political fields are the reasons behind most of the plights today humanity is confronting,"
Ahmadinejad said, according to an English translation of his prepared remarks cited by the wire service.

In his speech, the Iranian leader did not offer an alternative to capitalism, but said: "The world is in need of an encompassing and, of course, just and humane order in the light of which the rights of all are preserved and peace and security are safeguarded."

Ahmadinejad delivered his speech to a near empty hall, Reuters noted.

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Iran needs to sell oil and the capitalists can no longer afford to depend solely on oil any more. So Iran are looking at low oil prices for a long time to come. He declared capitalism dead ! Iran havent even begun on alternate energy , yet Iran chose nuclear over solar, duh??????????????

September 28 2010 at 3:09 AM Report abuse rate up rate down Reply

I honestly dont think global capitalism is dead. Capitalism is still young and learning its boundaries as socialism or liberalism still hold true forever. Capitalism needs to be burdened with socialism in order to survive or it will spin out of control fast.

September 22 2010 at 10:18 AM Report abuse rate up rate down Reply

He must be assuming a big T party victory in November to predict the end of capitalism. Without the government bailouts the system would have colapsed already.

September 21 2010 at 6:30 PM Report abuse rate up rate down Reply

Funnt, isn't that what many of Obama's czars are saying as well?!

September 21 2010 at 5:45 PM Report abuse rate up rate down Reply

Oh please. There isn't any alternative to Capitalism. Attempts at Socialism eventually bankrupt the govenments that try to sustain them. Thats what ended the Soviet Union. Even Cuba has been chipping away at Socialism because of money troubles during the past few years. Ironically, totally unregulated Capitalism is thriving in Iran in the form of a huge black market. Same is true in Venezuela. You can buy human organs or babies on the black market with no problem in both countries.

September 21 2010 at 4:45 PM Report abuse rate up rate down Reply

This guy is a bigger clown then bozo.I cant get over the fact that i ran is holding 2 americans for no reason and our gouerment has yet to do anything about it.He should have been arrested when he set foot on american soil but our fearless leader seems to scared that it might get in the way of his vacation.Iran is a joke

September 21 2010 at 4:02 PM Report abuse rate up rate down Reply
Randy Cross

What a moron! He also stated that the Holocaust was fiction. Why journalists even bother to print what this guy says and thinks is beyond logic to me.

September 21 2010 at 3:21 PM Report abuse +1 rate up rate down Reply

THANK GOD FOR ADAM SMITH AND HIS WEALTH OF NATIONS ON CAPITALISM GOING STRONG. Capitalism is not nearing death, what is ending is American willingness to be dependent on oil and alternative energy as the next chapter in determined American individualism. Apparently, mahmoud did not offer a solution. But, mahmoud cannot his country has 40 unemployment and a national heroin problem being kept quiet. What we can take from mahmoud is that his ability to walk in here and the little troll opens his mouth and proves their concept of government is treying to survive on the 79' Revolution where the so-called heroes are trying to make a glorious war over a quick coup. He opens his mouth it is the ignorence that represents the ignorence of the muslims of the world.

September 21 2010 at 3:19 PM Report abuse rate up rate down Reply

This two bit sleeze ball who has not taken a shower in two months says we are in danger on ending our way of life? Who would want to live his world? I know of no one and I will bet his people do not like it either. Bring back Persia and let the folks there enjoy the whole world like they used too.

September 21 2010 at 2:57 PM Report abuse rate up rate down Reply
Jim Harper

The fact is that nothing ecoomic works as well as 'capitalism'. What you are hearing from Ahmadinejad at the UN is typical third world whining about their own economic inaquacies. Dare I say a form of penis envy? My personal opinion is that he will meet his end from either a firing squad or the hangman in his own country. Tyrants usually wind up going that route.

September 21 2010 at 2:27 PM Report abuse -2 rate up rate down Reply