With Senator McCain's campaign new desperate attempt to paint Barack Obama as a socialist, someone need to remind him what the true meaning of socialism is. The latest government bailout of the financial markets in which McCain and George Bush supported could be considered socialism. Hugo Chavez joked about Bush turning into a socialist with his recent bailout of the finacial markets with tax payer money:
Excerpt:
Chavez, who describes capitalism as evil, ridiculed Mr Bush for his plan to buy stocks in American banks despite his widespread criticism of Venezuelan nationalisations.
"Bush is to the left of me now," Mr Chavez told an audience at a debate on the benefits of socialism. "Comrade Bush announced he will buy shares in private banks."
Chavez, who has insulted Mr Bush in the past as a drunkard or the devil, accused him of parroting the words of his aides without understanding the new policies that rely on heavy state intervention.
"I am convinced he has got no idea what's going on," said Mr Chavez, who has nationalised large parts of the Venezuelan economy in recent years and is in negotiations to take over a Spanish bank.
The Bush administration, which has promoted free-market policies throughout Latin America, resisted taking shares in banks for weeks. But, faced with a spiralling financial crisis, it reversed course this week with a multi-billion dollar plan.
Mr Chavez, who the US labels an autocrat, is a vocal critic of Mr Bush.
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