The strongest capitalist superpower on the planet, capitalist America as a whole, not solely the evaporated US "sub-prime mortgage market", is transformed into the most "toxic asset" of the global system. Trotsky had predicted that America rising to world hegemony accumulates all the world contradictions as dynamite in its foundations. This dynamite, accumulated during a century of expansions and crises, of wars and revolutions, is now exploding changing the shape of the world in the 21st century.
Nearly two decades ago the disintegration of the USSR was celebrated by capitalism as "the end of communism" and of History itself; now capitalism itself faces its own implosion in its metropolitan centers, in the United States, Europe and Japan. The post 1989/91 myth of an apparently triumphant liberal capitalist system, including the fantasy of a "uni-polar world" centered in the "unchallenged" American Empire has collapsed.