Socialism Comes to America
AIM Report | By Cliff Kincaid | October 15, 2008
But many conservatives understood that, by capitulating to the political Left, McCain and the Republican Party were ceding unnecessary ground to Barack Obama and his “progressive” Democrats.
<!–[if !mso]> st1\:*{behavior:url(#ieooui) } <![endif]–> In his classic 1932 book, Toward Soviet America, Communist Party boss William Z. Foster wrote about how “The United Soviet States of America” would come about. As a result of various capitalist crises, the national government would assume more and more control over the economy. “In finance,” he wrote, “it will mean the nationalization of the banking system and its concentration around a central State bank…”
It would be an exaggeration to say that we are getting close to anything resembling the Soviet system. But it is also a big mistake to call massive federal intervention in the economy a “rescue” or even a “bailout.”
Over at Political Affairs Magazine, a publication of the Communist Party USA, writer John Case was gloating. His article about the crisis was headlined, “A Dose of Socialism to Forestall Disaster.” He thought that Treasury Secretary Henry Paulson and Federal Reserve Board chairman Ben Bernanke had been reading the works of closet Marxists.
Read more of this article at AIM: http://www.aim.org/aim-report/socialism-comes-to-america/
Technorati Tags: AIM, socialism, Obama, McCain, finance, economy
