Date: Mon, 23 Mar 2009 09:29:01 -0400 From: Roland Francis <[email protected]>
Canadian Goanet readers must be having the last laugh after hearing Mario Goveia repeatedly call Canada a socialist economy. Yesterday I read that: AIG one of America's largest corporations is now 80% owned by the government. That takes it to the level of an Indian nationalized bank. There must be countless other US corporations that are in the same predicament as AIG. After all, the US deficit this year is 1.8 trillion dollars. Mario responds: Roland, Surely you know better than most that certain Canadian Goanetters are among the most uninformed about the US than anyone else, and maybe laughing too soon - schadenfreude only goes so far. To begin with, surely you couldn't have missed my opposition to the US being turned into a socialist-like economy by the election of President Obama and his teleprompter, aided and abetted by Democrat majorities in the Legislature as the American pendulum swung to the other side once again. In the meantime, every basket case economy in the world is run on socialist principles and countries around the world are running away from extreme socialism as fast as they can. Even France and Germany and Russia have scoffed at the massive bailout and government intervention plans of President Obama and his teleprompter. Secondly, the number of US corporations that are being bailed out are relatively few in number relative to the US economy, restricted mostly to the financial services and automobile industries, and can be easily counted, not the "countless' number you allege. Perhaps you are unaware that there are some 8,000 banks in the US and a similar number of credit unions, the vast majority of which are not in any trouble and need no bailouts. Also, that over 80% of US jobs are in small and medium sized companies that are not part of any bailout plan. In fact, they are the target of the new president and his teleprompter's higer tax rate plans. Finally, you have seemingly missed the backlash that has already begun in less than two months into this presidency, which means that the days of the new president and his teleprompter's socialist fantasy are already numbered. Here are some credible sources from the liberal or centrist parts of the American political spectrum that may help you understand what is going on: http://www.latimes.com/business/la-fi-tainted-money14-2009mar14,0,3702302.story http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE52H4FI20090318 http://www.politico.com/news/stories/0309/20095.html
