This article is the written version of a series of public statements by the author concerning the recent global economic crisis. Following a short summary of crucial events during the first period of this crisis, the author examines its likely further development, focusing in particular on the possibility that the crisis may lead into a protracted economic depression. The third section of the article considers the crisis “from below” and reflects on how the global working class might respond to the challenge. Local and global self-determination is discussed as a strategic option for the transformation of the capitalist world system.