American Socialism

If you thought Matt Taibbi's Rolling Stone article on Goldman Sachs was extreme...


You need to read Paul B. Farrell's article in Marketwatch. You know things are seriously messed up when the financial press is ranting about "socialism for Goldman Sachs and 'capitalism' for the rest of us"...

... Ask yourself: Why is the GOP so aggressively demonizing Obama's health-care reform as "socialism?" Why? Yes, something smells fishy, especially since the GOP created the biggest "socialized medicine" program ever with Medicare drugs.

Then suddenly the "why" hit me. Here's why ... All the fear-mongering about health-care "socialism" is actually a strategic smoke screen, a brilliant counterattack, a sneaky political cover-up of the GOP's recent historic takeover of America using taxpayer-funded bailout money against us. Get it? The Right's making Left turns into "socialism."

You heard me. In "Bailout Nation," hedge fund manager Barry Ritholtz summarizes this clandestine takeover of the great American democracy, led by Paulson and the Goldman Conspiracy juggernaut. In less than a year America has become "Socialism for the Rich! Capitalism for the Rest," says Ritholtz.

...

This is a historic government coup: The GOP created a new “American Socialism” that resembles Russia under Putin, with its bizarre blend of socialism plus just enough hint of capitalism to keep a steady flow of kickbacks to a corrupt dictator and his moneyed cronies.

At high levels the game reminds me of Bush looking deep into the Putin’s eyes and getting “a sense of his soul” (the “soul” of a former KGB agent and communist enemy of America?) Just as Bush failed to see the true “soul” of Russia’s boss, Congress and today’s Main Street America cannot see the hidden “soul” of the new “American Socialism” being created by the Goldman Conspiracy, banks and their political pawns. ...

Here are Farrell's eight way the conspiracy is destroying our American democracy:

1. Always elect a figurehead president
2. Greed is great in the new 'Socialist-Capitalism'
3. Too-stupid-to-fail big banks will always get bailed out
4. Pretend to be a commercial bank, risk like an investment bank
5. American taxpayers are Wall Street's personal piggy bank
6. High-risk leveraging guarantees high-paid insider bonuses
7. Government-approved CIA-style silence hides 'The Game'
8. New laws secure perpetual power for new 'Socialist Conspiracy'

It is definitely worth reading the whole article. It isn't often that you see one faction of the elite go rabid and attack another faction of the elite. But the brazen crimes of Goldman Sachs and the destruction it has caused to the whole economy is driving some of the big shot money men to want to "join the revolution" and bring down the crony capitalism at the heart of the United States. What a sight to behold!