Thursday, November 12, 2009

Losing Capitalism

We lost capitalism a long time ago. We have become fascist, as Lenin predicted would happen as capitalism failed.

The hallmarks of a fascist economy are the privatization of profit but the socialization of losses. That's what the bailouts are doing.

Then there is the corporatism which is the political foundation of fascism (as Mussolini points out), in which corporations and government align together against the general population. That is what we are seeing with the mandatory health insurance.