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When even the left-leaning Aaron Task of Yahoo! Finance sides with banks over the Obama administration, you know that the administration has again overreached, again demonstrated their unique blend of demagoguery, lack of understanding of business, and contempt for capitalism:

http://finance.yahoo.com/blogs/daily-ticker/government-wants-harp-loans-doesn-t-want-banks-142400249.html

View all comments (3) |

aware| 6.18.12 @ 4:49PM

Dude, what the "government" is doing is fascism, not socialism. North Korea and Cuba are the only ones still doing socialism these days. The rest of us are fascists, some more than others.

Fascism tells the banks what to do, socialism owns the banks(while they last[which usually isn't long]). The distinction may seem small but it is critical to understand if you don't want to fall prey to an ideology that makes a god out of the State.

"Private" ownership with oversight and ultimate control through "regulations" and "tax" policy by the State is fascism.

Bet you thought we were a "capitalist" economy, too? We almost were from 1790 till about 1900. But not in our lifetime.

Fast and Curious| 6.19.12 @ 12:15PM

Ok, at what tax rate (property, local, state, federal, etc etc) does "private ownership" cease to become truly private? Collectivism, wealth redistribution, and state control over our affairs and our economy sounds like Communism to me. I don't really care what a professor wants to call it, it is killing this country and I hate it.

aware| 6.19.12 @ 4:38PM

Thanks, but I am no professor. Being precise is important, words do mean things.

All economic and political systems in the world today, except the 2 I named(and they will end up where all the rest are), are fascist. Some subtle and some blatant.

By misunderstanding what you are up against, the wrong tactics are used and your effort is misdirected and misspent. Why else do you think that the advance of "government" has been unabated and unstoppable?

More Blog Posts by Ross Kaminsky

http://spectator.org/blog/2012/06/18/obama-administrations-socialis

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