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However, I 100% get what Obama is doing...provided he gets out of the business as quickly as possible, in the long run I won't have a problem with it overall.
A review of lobbying reports filed indicates that finance, insurance and real estate (FIRE) interests paid over $42 million to lobbyists who worked to defeat mortgage write-down in bankruptcy (cramdown) in the first quarter of 2009, as well as other anti-consumer legislation such as capping credit card interest rates.
Economic fascism can be defined as government control over the four P’s: Product, Price, Profit Margin, and People. When the government controls the product created by the market, when it controls the price structure for product and company securities, when it controls how much profit particular companies can make, and when it controls the people who are hired and fired, economic freedom has been banished, and economic fascism reigns supreme.
Originally posted by Seekerof
reply to post by jdub297
Its not only becoming obvious, Team Obama's plans are slowly being exposed for what they are. I mean gee, Rahm Emanual unwittingly revealed such when he uttered those famous words "Never want a serious crisis to go to waste."
Barack Obama and the Strategy of Manufactured Crisis
Trying to handle the crisis, the government nationalized the holdings of large banks which had accrued significant industrial securities. The government also issued new securities to provide a source of credit for the banks and began enlisting the help of various cartels….
The government offered recognition and support to these organizations in exchange for promises that they would manipulate prices in accordance with government priorities.
A number of mixed entities were formed… whose purpose it was to bring together representatives of the government and of the major businesses.… This economic model based on a partnership between government and business was soon extended to the political sphere, in what came to be known as corporatism.…
Various banking and industrial companies were financially supported by the state.… [The national leader] created the [New Governmental Entity]….[which soon] controlled 20% of [the nation's] industry through government-linked companies.… [The national leader] also adopted a Keynesian policy of government spending on public works to stimulate the economy.… Public works spending tripled to overtake defense spending as the largest item of government expenditure.
A quick Google search produces plenty of similar summaries of "economic fascism."
Just as Mussolini did (in slightly different words), Obama repeatedly talks about using government to "leverage" private investment for the greater good. And now, he actually dared to force a private corporation, General Motors, to fire its CEO. Meanwhile, his close ally Barney Frank introduced a bill to give the Treasury Secretary the power to set all salary levels for all employees of any companies in which the government has a capital stake.
Congress has delegated so much economic authority to the Treasury, the Fed, and the president that the Constitution itself has almost certainly been shredded in the panic.
“Obama's Economic Policy: Washington Knows Best”
President Obama's vision of the future is, apparently, an economy guided, steered and - when the occasion demands - commanded by the federal government. Some of the companies will remain private. Washington will take others over. But all will look to the White House as to how and when and where to proceed.
Companies will not look out for their shareholders or their employees or even their customers so much as watch the smoke signals from Washington to decide what to do. The markets won't control decisions. Washington will.
The same balance of government control and nominal private ownership is evident in the mortgage rescue plan and the efforts to rekindle consumer lending. It will be manifest in the cap-and-trade legislation and in the priority that the administration will accord to green lending and job creation.
The most worrisome developments are the creeping abandonment of some key pillars of sound policy: free trade, private ownership, and rule of law. The “Buy American” clause in the stimulus package was an embarrassing moment of neoprotectionism. Public management of General Motors is misguided. The punitive 90 percent bonus tax was egregious expropriation. The United States is going to leave this recession with a massive public debt, and it shouldn’t also lose the basic ingredients of economic success.
Not every bank needs to be saved. The Treasury Department is too afraid of bankruptcy and receivership, which means that too much taxpayer money is going to help bank owners and creditors.
We are turning closer and closer into a fascist state. I don't say that as hyperbole, as a merger of corporate and state powers, by definition according to Mussolini - who knew a thing or two about fascism --- is called fascism.