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Bush seeks $700 billion to stop mortgage meltdown – America is now an official socialist country – end of capitalism?
America is now finally accepted the philosophical defeat. Socialism has won America and guess what. The most neo conservative US President of America has surrendered America into socialism for the rich and powerful. The capitalism has ended officially as of last Sunday when the so called insiders of the power block that controls America threw the towel and decided to print relentless green buck and save their wealth and power.
Will this $700 billion really work? No it will not. The economy is in cancer. Remission is not possible through painkillers. The politicians have done nothing to target the cancer cells in the economy. The problem came from unregulated capitalism led by sub par intellectuals who championed in failed business models. The problem is long term. It took 40 years to surrender the cherished free world capitalism. It will take 50 years to get back in track.
In the mean time, America has quadrupled its budget deficit. It is time for Bush, McCain and others (even the Democrats) who deregulated American financial infrastructure in the name of failed supply side economics to step down, accept responsibilities and compensate with their personal wealth for the fiasco they created for the common people and the world in general. Their personal wealth may be a drop in the bucket but at least it will serve a notice to future political abusers that lie to the nation for power and money.
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