MrRodgers -> RE: American Socialism (7/21/2012 5:08:37 PM)
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ORIGINAL: tazzygirl Maybe the classic definition that I am seeing isnt the right one. Perhaps you can help me out with one that we can use that might better fit what I am trying to get across? Im sure you know what I am referring too. I see very little ihn the US that isnt socialistic in some form, to be honest. Socialism defined: is govt. ownership of the means of production and that requires a majority ownership to fit. Almost all of these all these answers are incorrect as the govt. Only 'owns' Fannie, Freddie, because the govt. assumed their debt (receivership in bankruotcy...in effect) to the benefit of investors. The treas. never received any profits from them and are described as GSE Govt. sponsored enterprises and in fact socialized (subsidized by guarantee) mortgage investment called warehousing which is what they were and still are. If they are socialism, it is socialism for the rich like TARP. Amtrak is one service that the govt. owns and not much else as owning TVA, a utility and under the same market benefits and burdens as any local utility...is also NOT socialism. Govt. agencies are not socialism, govt. sponsor does mean socialism. There exists almost NO socialism in the US as defined. Farming, banking, wall street, ethanol, crops, oil...now there's your socialism.
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