Obama Is Not A Socialist

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DAMMIT. Don’t the French know about our OOAs (ooo-ahs)*?

 

The French politician who said Indian steel company ArcelorMittal should leave the country has told CNBC that his government is only acting like U.S. President Barack Obama.

Industry Minister Arnaud Montebourg, a member of the governing Socialist party, caused controversy last week when he said that the Indian company, which employs close to 20,000 people in France, should leave after it said it would have to close down a factory.

The French government announced on Thursday that it could nationalize the factory in question, with backing from an unnamed businessman.

The news raised the specter of the nationalizations of the early 1980s, which were instigated by Hollande’s predecessor Francois Mitterrand.

Montebourg told CNBC after a meeting with trade unions in Paris: “Barack Obama’s nationalized. The Germans are nationalizing. All countries are nationalizing. I’ve also noticed the British nationalized 6 banks.”

Montebourg brushed off comparisons with that era. He said: “It’s a very good sign to send out (to investors). Nationalizing is a very modern step to take. Especially when you not only nationalize losses but profits as well, when you make public/private partnerships. This is our strategy.

“The strategy we’re putting forward is extremely modern and adapted to the current times of crisis. It’s a way of making the economy work in the interests of industry, more than just helping the financial sector,” he added.

Oooooo…these guys are gonna get some angry comments from @questionasshatman.

* OOAs – Official Obama Authorities

11 thoughts on “Obama Is Not A Socialist

  1. “The strategy we’re putting forward is extremely modern and adapted to the current times of crisis. It’s a way of making the economy work in the interests of industry, more than just helping the financial sector,” he added.

    Yep, so modern, Mussolini pioneered this practice, which was quickly followed by FDR, Franco and a little man with a funny mustache.

    Modern my OOA. This idiot just doesn’t know history.

  2. yes- a case can be made that the bailouts of GM and Citigroup, to one degree or another, were a form of nationalization.

    But let’s not forget- by this same logic Reagan could be argued to be the biggest socialist in US history- having nationalized hundreds of Savings and loans. And of course Nixon, nationalizing Amtrak and Conrail. Bush Jr nationalizing the private airport security industry giving us the friendly TSA, as well as nationalizing Freddy Mac and Fannie Mae.

    • Right on cue…

      Let’s see. You are 0 for 3.

      Reagan nationalized nothing. The Resolution Trust Corporation was a government owned entity created to liquidate S&L assets, not own them.

      Bush created the Homeland Security department because it was decided that the federal government was responsible for airport safety, not to nationalize an industry. I didn’t agree and still don’t but answering a national security issue doesn’t equal active participation in a business using taxpayer money.

      Nixon signed into law the creation of a hybrid corporate entity – like the Post Office – the text of the Rail Passenger Service Act of 1970 states: “The Corporation will not be an agency or establishment of the United States Government” and common stock was issued. This was the brainchild of the railroad unions and who else? Why it was the Democrat controlled Congress.

      Obama did none of this – he took taxpayer money and handed it directly to the UAW and used the coercive power of the federal government to screw bondholders, many of whom were retirees.

      Nixon and Bush did lean toward the “progressive” side and that is what we oppose, Republican “progressives” are as bad or worse than Democrat “progressives”.

      • Utah,

        What the asshat seems to ignore/miss/excuse is that — were Osavior the person asshat here seems to think he is — ALL of this could have and should have been reversed. But rather than reverse it, Osavior has doubled and tripled down.

        Now, when he is behind closed doors, who do you think Osavior laughs at more: those of us he knows at least understand what he is doing even if we can’t stop him, or the asshat donks who have swallowed his BS hook, line, sinker and leader all the way to the first eyelet?

      • Let”s see. The savings and loans crisis cost US taxpayers $124 Billion dollars to bail out private corporations. Yes- many of them were “dissolved”. So what- they were not held responsible for their abuses- the US taxpayers were.

        And despite the rights narrow minded focus on GM, the reality is much wider. The issue was not just GM- but the hundreds of part suppliers who supply all the US (and indeed, the foreign manufacturers operating in the US), many of whom would have failed if GM went under.

        and really? the TSA? you’re splitting hairs. No matter how you look at it there are two options: Bush made illegal and destroyed an entire industry, or he nationalized it.

        Amtrak. Whose boards of directors are appointed by the president of the US, and confirmed by the senate. It also receives “appropriations- in 2011 totallng almost $1.5Billion

        And of course- GM/Chrysler was bailed out under the provisions of TARP – passed under Bush. In congress, passing marginally along party lines (many more senate republicans voted for it then in the house). Notably- in the house- Paul Ryan voted for it.

        Under which- money was not “given”- assets were purchased. A program which, by the way, increasingly looks like it will continue to turn a healthy profit.

        And no- Obama did not hand money to the UAW. True- as a stakeholder he should have demanded more concessions from them in the GM/Chrysler restructuring.

        And yes- the CEO, who ran GM/Chrysler into the ground, who had previously been voted the worst CEO in the US was forced out as part of the bailout. And yes- as a main stakeholder in GM the treasury had an appointee to the board. Who ultimately became CEO. And let GM to it’s most profitable year ever.

        And of course- there is no evidence of the government having any role in running GM, nor of any intention to hold stock in the company any longer then needed.

        • OK, let’s say for the sake of argument that you are right and you have supplied us with perfect examples of government intervention in past administrations – so based on our use of these examples in a tu quoque argument (basically saying, yeah he is but look at these other examples), you are agreeing that Obama is, in fact, a socialist?

          We have pointed out that while the textbook definition of socialism is that government owns the means of production – this is a definition that was applicable during the industrial revolution when direct ownership was required for control but no longer directly applicable:

          As with almost everything else, things change and as they do the definitions should change to match them. When this definition of socialism was coined, to own and central plan an economy actually meant that a government had to have ownership of the “means of production” which would have been the physical raw materials, manufacturing facilities and employ the people. Today, as we have shifted away from the need for many of these physical means of “production” and toward more of an electronic society, the “means of production” has come to be more related to capital and fungible currency than a smokestack. If you control the flow of money, it is not necessary to own the physical assets because you can control the asset through money flow. I call this “checkbook socialism”.

          Adherents of Keynesian economic theory are nothing but “checkbook socialists” and Obama does fit that definition.

          See, that’s the problem with using a tu quoque argument – it does not defeat the anticedent, it confirms it. Claiming that something isn’t what it is by saying it is like something else is does not make your defense correct.

          Thanks for the illustration – straight from the horse’s arse.

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