Spain crisis not the end of Europe's troubles

A handy little animated graphic overview of the crisis in Spain which is, of course, a crisis of global capitalism.  They talk of the collapse of the housing boom as one of the main problems.  But what is a a housing boom?  In the last analysis it is no different from a student debt boom or a tulip boom or a tech boom.  It is a situation that arises in a capitalist economic formation where the supply of something far outstrips the demand.  Demand is not the correct term really because we have boom, or more accurately, overproduction even as people are in desperate needs.  People starve among an abundance of food, live in the streets as homes and shelter remain empty, get sick though there is the means and science to cure them.  Overproduction is an inherent part of capitalism as the working class as a whole is paid less value in wages than we produce through the production process; we produce more value than we can buy as a consumer. We can never receive a "fair" days pay as the exchange of work activity for a wage is an unfair and unequal exchange.

Capitalism produces too much because the basis for production is profit.  Capitalism is an unplanned system, there is no rational determination of society's needs and the allocation of the material,  human and capital resources necessary to provide these needs in harmony with nature.

The European situation is dire as the sovereign debt crisis is acute in Ireland, Portugal, Italy, and other Eastern European countries. Like they do in strikes here in the US, the leaders of the workers' organization's limit the response to a well coordinated brutal attack from global capitalism to workers in individual countries. Therefore workers in a small, weaker European nation like Greece are left fighting global capitalism alone.  Then the workers of Spain fight their isolated battle. 

Not living in Europe I am not fully aware of the attempts to organize a Europe wide response to capital or if there is an attempt at all on the part of the leaders of the workers' organizations.  But it is what is needed.  A Europe (and world wide) assault on global capitalism; this is what can drive this offensive of their back and build a better world.

No Austerity
Nationalize the banks and finance houses
Nationalize the giant corporations
Free education, health care and decent housing
For a world party of the working class
End all wars fought in the interests of the corporations
For a world federation of democratic socialist states