Friday, October 10, 2008

In America is Socialism for the Rich, Capitalism for the Poor

Gore Vidal, once quipped rather trenchantly, that what we have in America is “socialism for the rich; free enterprise for the poor.” And the events of the past two weeks lift Vidal’s quip from the realm of clever humor to more of an accurate assessment of American economics. As several other commentators have noted, what we have is an economic system of “privatizing gains and socializing losses.”

Santa Monica Mirror

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