http://uk.reuters.com/article/worldN...5520B220090603
Spoiler Alert, click show to read:
This is a classic!
I actually loved what Hugo just said. He even has a point because in monetary terms the networth of the firms that the U.S government has nationalized probably dwarfs the decade old Venezuela nationalization program.
My comment:
Communists rejoice about the supposed 'victory' of the command economy over the 'greedy capitalist' practices that they claim brought forth the crisis. As usual they are wrong.
McCartyists (In need of a better term since tha blatant adherence to the obsolete 'invisible hand' theory is in no way capitalism. It is just an extinct species of dinosaur that lives only in the USA) on the other hand accuse Obama of being a hippie leftie commie but not too loudly because the alternative (closing the banks and US firms down) is too painful to bare. Therefore they allow Obama to do what is needed and they save face by criticizing him for it.
My view: We learn the merits of modern capitalism (mixed economy) the hard way. However we observe a huge amount of inertia. It will take people many years to change their economic perspectives and move away from absolute economic systems towards rational ones.
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