Tag Archives: Business

Forbes: Obama not a Socialist, More like an Oligarch

Just another example of the fact that business news publications tend to be the most honest (they speak honestly to their constituency). Forbes editor Michael Maiello’s newest column proclaims:

Obama Loves The Rich

Here’s an excerpt:

Obama’s no socialist. An observer from Mars would think the man’s a downright oligarch. While the “angry white men” movement assembles into tea parties, the real anger should be felt by those on the left who have so far watched the president continue to follow an economic rescue plan that was outlined by George Bush and Hank Paulson. The only thing that Obama has socialized are the losses incurred by Wall Street’s major banks….

obama-wall-street

Yeah we’d say that’s pretty right on. Obama’s brand of socialism involves foisting the burden of Wall Street excesses upon the people to share, while privatizing profits made by Wall Street Execs (who still continue to receive bonuses…)

Again, it is important to point out that Obama is incapable of bringing any kind of real change because its the system that needs changing not its leadership. Power should (and could) be in the hands of the people, that would be real change. However that kind of change requires much deeper and qualitatively different struggle.

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