The Hispanic vision of the United States 2008-2009 financial crisis is different from that in other parts of the world

Authors:
José Alberto López Rafaschieri and Luis Alberto López Rafaschieri
www.morochos.net

The U.S. Financial crisis has caused a great stir in the media worldwide. At any time, any TV channel or newspaper, is referring to the topic in some way. And it's easy to notice that the different countries' media coverage of the fact, it is often determined by the cultural biases of each region.

For example, when we see how the US, European and Asian media cover the current financial crisis, we noted that their commentators analyze the risks for savers, the consequences for small investors and those with retirement accounts. Some are also wondering about the best use of money in such circumstances and what are the economic effects for the middle class. While others argue about what should be the government's actions to deal with the crisis.

However, when we see the Latin American media, we found a relatively unanimous opinion among analysts, journalists and bloggers. The Latino commentators mostly agree that this is the end of the capitalistic financial system and the death of the free market as the best proposal for economic development.

Almost all Latino analysts repeat phrases like these: "The capitalist model as we know it is dead, the financial system that existed since the year xxxx is over", or "the free market theory is no longer valid". Words that are pronounced as if they were proclaiming religious phrases.

In this sense, the general opinion of Latin America's experts says that the current crisis in financial markets is to capitalism, which was the Berlin Wall's fall to socialism. And famous Latin Americans advised to discard the theories of free markets, to find the solution to the financial crisis in the United States in the most recent meeting of the Socialist International.

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