He claims he's not a socialist, but I know by definition he really is.
Apparently, many democrats don't like the stigma, although many have accepted the label, this gentleman is still a stand out, and won't come out of his closet on that political title just yet.
Anyway, whenever I see this guy he likes to give me a hard time about Enron, Halliburton, Bernie Madoff, the BP oil spill, and a host of other issues.
Okay so, the other day we got to talking about the history of socialism, and how you could tell if a nation was turning socialist, or if it was actually a socialist nation already.
I submitted to him that you can tell where socialism exists merely by looking for shortages, scarcities, government intervention, protectionism, and subsidies.
Indeed, I noted that whatever you see those things, chances are they are mistakes that are not born of free-market capitalism, but rather socialist type left-leaning thinkers who try to control the flows of money, labor, capital, and production.
The funny thing was that each time he mentioned a nation with any of these challenges, it came up as a socialist nation.
And when he came up with nations that didn't have these problems, it was a nation that was leaning more towards capitalism.
Isn't that interesting? Are you surprised, because I'm not, and let me tell you why; you see, free-market capitalism does better when it's left alone, where there is less regulation, not more.
Although my acquaintance likes to tell me that this great economic implosion in real estate was because of capitalism, I remind him that the government sponsored and taxpayer guaranteed Freddie and Fannie are very much socialist type programs.
I also reminded him that the reason that AIG insured all of those CDOs and mortgage bundles, was because Elliot Spitzer while he was attorney general was able to sue AIG and get Hank Greenberg kicked out of his own company.
Had Hank Greenberg been running AIG he would've never let the London office insure all of that garbage, and if the Democrats didn't try to promote affordable homes for all Americans whether they could pay for it or not, there wouldn't have been the criteria to have such an economic collapse or such a large bubble build.
Thus, we can blame socialist and left-leaning thinking for the global economic crash.
Of course, those who love socialism, including our current administration, turn around and blame it all on capitalism.
That is an unfair argument, because had they not messed around with the flows of labor, money, capital, and production, or put forth those guarantees at the taxpayer expense for mortgages, none of that would've happened.
And Elliot Spitzer did attack Hank Greenberg and AIG because he felt there was in collusion with other insurance companies, and was engaged in monopolistic tendencies which he Spitzer called an insurance cartel, even though those things had been going on for decades, and actually helped lower the price of insurance for consumers.
Well, since my acquaintance stands corrected, even if he fails to see the light, I would submit to you that I am correct on this, and that if you want to find socialism just look for; shortages, scarcities, government intervention, and subsidies - and when you find those socialism isn't very far behind.
Please consider all this and think on it.