It Takes One To Know One

The Chinese recognize Obama for what he is:

There is a joke that has quietly circulated its way around–In 1949 it was only socialism that could save China, in 1989 only China could save socialism and in 2009 only China can save capitalism.

Across the great ocean on the American shore, there is a view that has an astonishing resemblance to this one. On the front cover of the mid-February edition of America’s Newsweek magazine there was a very direct heading that asserted “we are all socialists now.” Is the United States a socialist country? Without question, it is not. Are there socialist attributes to President Obama’s reform? Without a question, there are.

During the campaign Obama was accused by his opponent of being a “socialist,” Castro, the Cuban leader, called him “comrade” and, more recently, the Venezuelan president Chavez jokingly said, “Come on, Obama, align yourself with us on the way to socialism!”

With regards to GM bankruptcy protection and the restructuring of financial institutions, Obama’s reform measures, invariably, reflect socialistic characteristics. The largest shareholders of General Motors Automotive are now the government and the workers union. This means that this company, which is a symbol of the American capitalist spirit, has become a “state and collectively owned enterprise.”

The financial reform is very much of the same vein, as the U.S. wants to transform the Federal Reserve into what would be a “super regulator,” comprehensively strengthening regulation towards the financial institutions. It is also planning to establish a new financial consumer safeguard endowed with authority that far supersedes that of the current regulatory system. This way of doing things is in conformity with the Marxist doctrine of the Communist Manifesto in which Marx foretold a capitalist financial crisis. The American Foreign Policy magazine offered a very Marxist “prescription” suggesting that the “whole financial sector be turned into a public utility” — perhaps one could say, “centralization of credit in the hands of the State by means of a national bank with State capital and an exclusive monopoly.” (Communist Manifesto).

Something that has an even more socialist flavor than nationalization of enterprise and strengthened regulation is Obama’s medical insurance reform. The intent is to give every American affordable medical insurance by means of establishing a government supported public medical insurance program that would compete with private insurance companies. Obama’s view on the matter was that “if the private insurance companies have to compete with public option, it will keep them honest and help keep prices down.” In other words, the United States wants to use the strength of the government to establish an “everyone has medical insurance” society, very much in tune with the socialist concept of “everyone has rice to eat and everyone has clothes to wear.”

One thought on “It Takes One To Know One

  1. “if the private insurance companies have to compete with public option, it will keep them honest and help keep prices down.”
    The premise of this statement is that all of the insurance companies are colluding with one another and that “government” is the honest one! Well, why not just have the gov’t do everything? Medicare works like a dream, right?

    With respect to China and capitalism, it may be technically true, but capitalism in a strict sense needs to be based on a free market. There is so much of the Chinese economy that is state-owned, starting with most of the land, that the allocation of resources is dependent on the decisions of the government.

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