Obama the "Socialist" Saved Capitalism by Giving Welfare to Wall Street and Red States

[babsbunny]

http://blog.buzzflash.com/node/13352

Submitted by mark karlin on Wed, 02/29/2012 - 2:05pm.

EditorBlog

MARK KARLIN, EDITOR OF BUZZFLASH AT TRUTHOUT

Wall Street must be effusively thankful for what the Tea Party, the Right Wing and FOX News claim: Obama is a "socialist."

After all, that must be the reason that the stock market climbed to the highest level in five years on February 28, according to ABC News:

The Dow Jones industrial average closed above 13,000 for the first time since 2008, capping a remarkable run-up in stocks that has coincided with a revival of consumer confidence to levels not seen since well before the econ0mic downturn began.

It takes a "socialist," apparently, to create a financial environment in which the stock market has been soaring.

And then there's the "socialist" influence that has propelled economic growth since the "free market" collapse of the economy under George W. Bush. According to CNN, the "gross domestic product, the broadest measure of the nation's economy, grew at a 3% annual rate in the fourth quarter of 2011."

[Dokkie]

1. I am sure you thought it was brilliant to post this article

But you have to 1st understand what capitalism (free market) is before you try to use it against right wingers. Capitalism in a nutshell is just the private ownership of industry so it in of itself doesn't mean much, its what kind of capitalism that matters. Now Obama saved capitalism but it was the crony type that he saved, the point being that Obama cannot save free market capitalism cos the interference (especially when it benefits the big corporations) in its system turns it into something else. free means free from govt interference.

[freshwest]

2. Another good one from Buzzflash. Thanks.

[former9thward]

3. I don't know what the "welfare to red states" is

but I think the wall street bailout was welfare. And that was to a pretty blue state. But I suppose that does not count.