Saturday, October 18, 2008

Socialism in reverse

It is rather ironic that the Republican party and John McCain would label Barak Obama a socialist. What is the irony?  When the government proposes to take over an ailing industry there is a term that can be applied: government socialism in it's classic form.  Now the supposed conservative Republican administration, behind the words of doom from Hank Paulson, is preaching that the Fed take over ailing banks.  The inability of the credit markets to solve their own problems has led to state socialism because only the huge taxpayer base has the resources to solve it.  Karl Marx to the Soviet Union to Henry Paulson.  What happened to private ownership and investing in the stock market and private health care so hailed by the conservative Republican Party? Gone. Collapsed. Now the Republican administration is hot for government takeover.  So first Bush says government takeover of Lehman Brothers would be a "moral hazard." Now Bush and Paulson would have the American taxpayer take on the bad debt of Goldman Sachs, Paulson's former employer from which he extracted a severence pay of, hold on, $700 million. McCain claims that Obama's financial outlook is socialist in nature, yet the present administration has undertaken the biggest socialist investment in the history of mankind...$700 billion worth.  Of course Bush and Paulson would never invoke the word "socialism" but indeed that is exactly what it is.

This is the same president who claimed that America would not become involved in nation building.  Little did Americans know that the nation he would not build is our own.  

How much worse off is every middle class American today that they were eight long years ago?

American unemployment has gone in reverse.  The value of the dollar has gone in reverse. Home values have gone in reverse.  Our reputation abroad has gone in reverse.  Thank you to everyone who voted for Bush in 2000 and repeated the mistake in 2004.  Hoepfully you will not make a third mistake because three strikes and you are out.

This is a form of socialism in reverse.  This moves money from the middle class to the rich.  

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