The Socialist Lie (Truth)

It is obvious to every one that the global financial meltdown was caused by the out right failure of laissezfaire capitalism. The notion that there should be no government role in the economic affairs of our society (see: minarchism) has been discredited. Today, we decry the greed of Wall Street as if the CEO’s were somehow perpetuating the dirty sin of greed within a capitalist vacuum. Yet, the mechanism that promoted this phenomenon is exactly what the Republican Party has advocated since the Reagan administration. But now, many Republicans are running for “regulation cover”. Even Republican presidential nominee, John McCain has expressed that he is in favor of “some” regulation. This is totally contrary to his legislative record and past public pronouncements. A change in political position is derisively termed a flip-flop. But to flip flop on a fundamental pillar of one’s political/economic philosophy is dishonest at best, apostasy at worse. John McCain is a philosophical fraud.
The Republican administration has now decided to buy stakes in financial institutions, constituting a de-facto nationalization of the financial sector. What makes the situation the more surreal, are the new attacks on Democratic presidential hopeful Barack Obama. The McCain campaign has characterized Obama’s economic policies as “socialism”. He tries to paint Obama as a neo-liberal, social democrat of the European type (How un-American). McCain now has begun to use the code phrase, “redistribution of wealth”, as if Obama were a closet Marxist. (See this bizarre YouTube clip) Yet another thinly veiled Republican smear. With less than three weeks to go until the elections, we can only expect sharper attacks from McCain. The sadness of this prognostication is trumped by my anticipation of the laughable nature of these tactics.


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