Just 53% Say Capitalism Better Than Socialism

via Rasmussen

Only 53% of American adults believe capitalism is better than socialism.

The latest Rasmussen Reports national telephone survey found that 20% disagree and say socialism is better. Twenty-seven percent (27%) are not sure which is better. socialism1

Adults under 30 are essentially evenly divided: 37% prefer capitalism, 33% socialism, and 30% are undecided. Thirty-somethings are a bit more supportive of the free-enterprise approach with 49% for capitalism and 26% for socialism. Adults over 40 strongly favor capitalism, and just 13% of those older Americans believe socialism is better.

Investors by a 5-to-1 margin choose capitalism. As for those who do not invest, 40% say capitalism is better while 25% prefer socialism.

There is a partisan gap as well. Republicans – by an 11-to-1 margin – favor capitalism. Democrats are much more closely divided: Just 39% say capitalism is better while 30% prefer socialism. As for those not affiliated with either major political party, 48% say capitalism is best, and 21% opt for socialism.

(Want a free daily e-mail update? If it’s in the news, it’s in our polls.) Rasmussen Reports updates also available on Twitter. Continue reading

BREAKING: CHAVEZ CALLS ON OBAMA TO FOLLOW PATH OF SOCIALISM

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via Drudge Report

Caracas – Venezuelan President Hugo Chavez on Friday called upon US President Barack Obama to follow the path to socialism, which he termed as the “only” way out of the global recession. “Come with us, align yourself, come with us on the road to socialism. This is the only path. Imagine a socialist revolution in the United States,” Chavez told a group of workers in the southern Venezuelan state of Bolivar.

The controversial Venezuelan leader, who taunted the United States as a source of capitalistic evil under former president George W Bush, added that the United States needs a leader who can take it to a “higher” destiny and bring it out of “the sad role that it has been given, as a murderous, attacking power that is hated all around the world.”

Chavez said that people are calling Obama a “socialist” for the measures of state intervention he is taking to counter the crisis, so it would not be too far-fetched to suggest that he might join the project of “21st century socialism” that the Venezuelan leader is heading.

“Nothing is impossible. Who would have thought in the 1980s that the Soviet Union would disappear? No one,” he said.

“That murderous, genocidal empire has to end, and some day there has to come a leader … who interprets the best of a people who also include human beings who suffer, endure, weep and laugh,” the outspoken Chavez said.

Developing…

[video] Fox News Starts “Comrade Update” Targets Obama as Communist/Socialist

It’s funny how talk radio and right wing commentators on FOX are so hellbent with tagging Obama’s policies as Communism and Socialism when in fact this is just an extension of what Bush started before Obama was sworn in. So if he is ushering in the finale to something Bush started shouldn’t they be delighted with the way things are going?  Or are they just playing out the script of setting him up as a scapegoat?

Rescue of U.S. banks hints at nationalization

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via Telegraph UK

The approximately $138 billion aid package on Thursday for Bank of America — including injections of capital and absorbed losses — as well as a $300 billion package in November for Citigroup both represented displays of financial gymnastics aimed at providing capital without appearing to take commanding equity stakes.

Treasury and Fed officials accomplished that trick by structuring the deals like insurance programs for big bundles of the banks’ most toxic assets.

Instead of investing tens of billions of taxpayer dollars in exchange for preferred shares in the banks, which has been the Treasury Department’s approach so far with its capital infusions, the government essentially liberated the banks from some of their most threatening assets.

The trouble with the new approach, analysts say, is that it is likely to conceal the amount of risk that taxpayers are taking on. If the government-guaranteed securities turn out to be worthless, the cost of the insurance would be much higher than if the Treasury Department had simply bailed out the banks with cash in the first place.

Christopher Whalen, a managing partner at Institutional Risk Analytics, said the approach also covers up the underlying reality that the government is already essentially the majority shareholder in Citigroup.

“There’s nobody else out there to invest in them,” Whalen said. “We already own them.”

Ben Bernanke, chairman of the Federal Reserve Board, outlined the elements of what could become the Obama administration’s new approach to bank rescues in a speech on Monday. Continue reading

The RNC Want Bush’s Head on a Platter

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via Washington Times

So Georgie’s gone SO ballistic he’s even ticked off his own party, who now want his head on a platter

EXCLUSIVE:

Republican Party officials say they will try next month to pass a resolution accusing President Bush and congressional Republican leaders of embracing “socialism,” underscoring deep dissension within the party at the end of Mr. Bush’s administration.

Those pushing the resolution, which will come before the Republican National Committee at its January meeting, say elected leaders need to be reminded of core principles. They said the RNC must take the dramatic step of wading into policy debates, which traditionally have been left to lawmakers.

“We can’t be a party of small government, free markets and low taxes while supporting bailouts and nationalizing industries, which lead to big government, socialism and high taxes at the expense of individual liberty and freedoms,” said Solomon Yue, an Oregon member and co-sponsor of a resolution that criticizes the U.S. government bailouts of the financial and auto industries. Republican National Committee Vice Chairman James Bopp Jr. wrote the resolution and asked the rest of the 168 voting members to sign it. Continue reading