Its Blog Action Day 2008 today in the Philippines and elsewhere in the world.

Imperialism, or the monopoly stage of capitalism, may actually be the root cause of poverty in the world, making Lenin right, all along. Providing evidence is the US financial crisis itself, with the US government forced to bail out Wall Street companies and big banks with a $700 billion package funded by taxpayer money — while homeowners and common citizens across the US losing their homes and savings.

The effects of this financial crisis are felt worldwide, with governments scampering to save the big banks and companies and thus swallowed their proclamations about unfettered capitalism being the most superior form of ideology to guide nations and economies.

How imperialism — or globalization — has caused poverty and underdevelopment in the Philippines and broken dreams across the world is a thought that people should be honest and brave enough to confront.

Another world should be possible, one where poverty is not a mainstay and where it is is humanely and decisively solved.