Utah has noted it when he called it “checkbook socialism“:
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”.
Joe noted that the state doesn’t have to own the means of production, it only has to control it. As if on cue, Mayor Rahmbo, the ballet dancer, tips the hand of liberal asshats everywhere – that they are just closet fascists:
Chicago Mayor Rahm Emanuel is putting more pressure on gun makers to get behind his push for an assault weapons ban and criminal background checks for gun purchasers.
This time, he wants to go after their bottom line.
Emanuel is pushing two major financial institutions to stop their financial backing of gun makers, unless those companies support “commonsense reforms, including requiring criminal background checks on all gun sales.”
The mayor is urging that banks to stop lines of credit, financing for acquisitions and expansions and financial advising.
In a letter sent Friday to the CEOs of Bank Of America and TD Bank, Emanuel said: “In the past, the gun industry has stood in opposition to these safety measures. They opposed a ban on assault weapons on America’s streets, opposed a ban on military-style clips, opposed a criminal background check on all gun purchases and opposed any effort to crack down on criminal gun traffickers.”
In the letter, Emanuel says TD Bank offers a $60 million line of credit to Smith & Wesson, which produces the AR-15. That is the weapon used by James Holmes in the Aurora, Colo., theater massacre that killed 12 people. Emanuel wrote.
Emanuel told CEO Bharat Masrani “to use your influence to push this company to find common ground” on an assault weapons ban and gun background checks.
In a separate letter, Emanuel urged Bank Of America CEO Brian T. Moynihan to do the same thing with Sturm, Ruger & Co., which has a $25 million line of credit with the bank.
“Collectively we can send a clear and unambiguous message to the entire gun industry that investors will no longer financially support companies that support gun violence,” Emanuel wrote.