George Soros: Financial crisis equivalent to the collapse of the Soviet System

Finally, someone has articulated what I have been thinking. George Soros on Friday called the obvious : "Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union. "

He also mentioned: "We witnessed the collapse of the financial system,".... "It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."

Now George Soros is someone who understands well the collapse of the Soviet system and the repressive regimes in the eastern european countries, as himself stood and fought for democracy those days any way he could.

I am not an economist, but there is one obvious question that comes to mind: Are we witnessing of the beginning of the collapse of capitalism as a system altogether? Is it possible that capitalism as a system is failing? At least in its extreme form that we have here?

Interestingly, I wrote about it here in Daily Kos and one commenter there, brought up what I have been also thinking. That Obama is America's Gorbachev. A reformer trying to reform/fix a corrupt system, but in the process he may bring it down. Of course, that begs the question of who would be the equivalent of Yeltsin or Putin.