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Posts Tagged ‘socialism’

Thomas Sowell has yet another great article today at Townhall.com:

The idea of redistributing wealth has turned into the reality of redistributing poverty, in countries where wealth has fled and the production of new wealth has been stifled by a lack of incentives.

He continues:

Politicians telling businesses how to operate? That’s been tried in countries around the world, especially during the second half of the 20th century. It has failed so often and so badly that even socialist and communist governments were freeing up their markets by the end of the century.

The economies of China and India began their take-off into high rates of growth when they got rid of precisely the kinds of policies that Obama is advocating for the United States under the magic mantra of “change.”

More on the fruits of socialism here and here.

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I’ll spare you the policy wonk fun from Heritage, but check out this quote from some post-baseball season “light reading” (fully story here):

The country’s current left-wing government, led first by Peronist Party leader Néstor Kirchner (presi­dent from 2003 to 2007) and now by his wife, Presi­dent Cristina Fernández de Kirchner, has used revenues from commodities exports to finance the same sort of populist policies that have kept General Juan Peron and his political progeny in power in Argentina more or less continuously since the 1940s with a simple but economically destructive formula: wasteful welfare state handouts, a swollen bureau­cracy to redistribute wealth, and powerful closed-shop trade unions protected from foreign competi­tion; all generously lubricated with corruption.

See any parallels to today’s political discussion in the United States?

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Here are great current event illustrations of supply and demand, inflation, prices, and government intervention in a socialist economy.


Venezuela’s Central Bank says the annual inflation rate has hit 36 percent in the Caracas metropolitan area as food prices soared.
Prices for goods and services, health and restaurants also showed strong gains. Inflation in the oil-producing nation is rising as demand outpaces supply.

Story here.

President Hugo Chavez has figured out how to use Venezuela’s vast oil reserves to increase his regional influence while diminishing U.S. clout: He all but gives it away.

The self-proclaimed socialist revolutionary is allowing impoverished U.S. allies such as Honduras and the Dominican Republic to buy discounted oil with low-interest loans. Then he rebates the revenue back to those countries in the form of aid – – attached to strings he controls.

Story here.

President Hugo Chavez on Sunday threatened to cut off oil sales to the United States in an “economic war” if Exxon Mobil Corp. wins court judgments to seize billions of dollars in Venezuelan assets.

Story here.

The blackout hit several of the country’s most populous states, including the capital, Caracas.Venezuelan President Hugo Chavez praised officials for quickly detecting and beginning to repair the fault.Mr Chavez says upgrading the grid after years of under-investment will take time but rejects criticism that nationalisation has made things worse.

Story here.


So Chavez is:
1) Giving away oil (except to USA)
2) Threatening to cut off oil to the USA- the only country which actually pays market price for it
3) All while he cannot provide electricity for the oil rich country
4) And normal people are paying 36% more for food

Nice, don’t you think?

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Hammer and sickle anyone?

Politically Drunk on Power has found most of the archive gold here.

Was Barack Obama a member of the socialist “New Party” during the 1990s?

From a web archive of the Chicago Democratic Socialists of America circa 2000:

For Congressman of the 1st Congressional District, the Executive Committee was faced with two very good candidates. As we are not making endorsements but merely recommendations, we felt no conflict in recommending both Bobby Rush and Barak [sic] Obama.

And from the same archive:

Barak [sic] Obama is serving only his second term in the Illinois State Senate so he might be fairly charged with ambition, but the same might have be said of Bobby Rush when he ran against Congressman Charles Hayes. Obama also has put in time at the grass roots, working for five years as a community organizer in Harlem and in Chicago. When Obama participated in a 1996 UofC YDS Townhall Meeting on Economic Insecurity, much of what he had to say was well within the mainstream of European social democracy. To volunteer, call 773 846 2262. Contributions may be sent to Obama for Congress 2000, PO Box 497987, Chicago, IL 60649.

And the gem from this archive:

Secondly, the NP’s ’96 Political Program has been enormously successful with 3 of 4 endorsed candidates winning electoral primaries. All four candidates attended the NP membership meeting on April 11th to express their gratitude. Danny Davis, winner in the 7th Congressional District, invited NPers to join his Campaign Steering Committee. Patricia Martin, who won the race for Judge in 7th Subcircuit Court, explained that due to the NP she was able to network and get experienced advice from progressives like Davis. Barack Obama, victor in the 13th State Senate District, encouraged NPers to join in his task forces on Voter Education and Voter Registration. The lone loser was Willie Delgado, in the 3rd Illinois House District.

So it appears Obama was one of the three candidates the New Party endorsed and Obama himself “encouraged” NPers? Wow.

More from:

New Quarter

American Thinker

Michelle Malkin

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