US Is "More Communist than China": Jim Rogers

dirtpoorchris · 09-10-08, 12:28 AM

US Is "More Communist than China": Jim Rogers
By CNBC.com | 08 Sep 2008 | 05:28 AM ET
US Is "More Communist than China": Jim Rogers - Financials * Europe * News * Story - CNBC.com

Quote:

The nationalization of Fannie Mae and Freddie Mac shows that the U.S. is "more communist than China right now" but its brand of socialism is meant only for the rich, investor Jim Rogers, CEO of Rogers Holdings, told CNBC Europe on Monday.

"America is more communist than China is right now. You can see that this is welfare of the rich, it is socialism for the rich… it's just bailing out financial institutions," Rogers said.

I wonder how much of a percentage will go to China?

buttonpsi · 09-10-08, 05:30 AM

Not yet, but keep buying private corporations and look at the clock...

scourge99 · 09-10-08, 12:27 PM

This is because we have LEARNED from our mistakes in the past. A laissez faire approach to the economy does NOT work as made painfully obvious by stock market crashes and other economic woes. For the most part our gov't does not run businesses unless there is a compelling interest. Such is the case now where companies have created problems that if left unchecked could severely weaken the economy. Its not communism its just crisis management.

American · 09-10-08, 03:58 PM

In other news, Chinese officials held a news conference in which they made clear that they do not fear competition from the United States.

NoMoreDems-Reps · 09-10-08, 04:35 PM

No, we have two Parties China has One !

We are only Half as Communist as China!

Truth Detector · 09-10-08, 04:53 PM

Quote:

Originally Posted by dirtpoorchris

US Is "More Communist than China": Jim Rogers
By CNBC.com | 08 Sep 2008 | 05:28 AM ET
US Is "More Communist than China": Jim Rogers - Financials * Europe * News * Story - CNBC.com

I wonder how much of a percentage will go to China?

What a moronic assertion by none other than Jim Rogers.

Yes, America is more Communist because the Government feels it necessary to create idiotic quasi Governmental organizations to pander to voters.

But in order to even make such a profoundly idiotic statement, one has to pretend that in China, the people actually elect their representatives; that in China, there is no State control of the press; that in China, the state does not own all property; and that in China, the people can come and go as they please.

Good lord, you cannot make this stupidity up people.

Truth Detector · 09-10-08, 04:54 PM

Quote:

Originally Posted by scourge99

This is because we have LEARNED from our mistakes in the past. A laissez faire approach to the economy does NOT work as made painfully obvious by stock market crashes and other economic woes. For the most part our gov't does not run businesses unless there is a compelling interest. Such is the case now where companies have created problems that if left unchecked could severely weaken the economy. Its not communism its just crisis management.

.....BUT, an economy run by Government politicians who can't even balance a budget is better? How profound!

Truth Detector · 09-10-08, 04:57 PM

Quote:

Originally Posted by NoMoreDems-Reps

No, we have two Parties China has One !

Wrong again; there are actually more than five parties in the USA. And in Amerika (sp), you can have as many parties as you want. This is another illustration of the absurdity of Jim's commentary.

The FACT that Americans by overwhelming majorities choose one of the major parties doesn't make us LESS Democratic, contrary to your false perceptions about REALITY.