Newspaper Calls Obama’s Economic Plan What It Is: Fascism

This is a remarkable editorial for its clarity: First the banks, now the automakers:

Skipping right to the end:

It appears the president and his men have entirely lost track of — if they ever really grasped — the fact that in America, major industries are not run by the government, and for good reason.

This “new” system — in which private capitalists technically maintain title to their enterprises, but really operate under close, monopoly government supervision — was tried in Italy starting in the 1920s (where Mussolini’s system was called “fascism”), and in Germany starting in the 1930s (where they called the plan “national socialism.”)

This is not name-calling. These terms describe a certain type of state-run economic system, to which the Obama administration — in office a mere 60 days — is now embarked with a vengeance on converting this nation.

It’s a version of central planning, and it won’t work.

Read the whole thing. It’s a remarkable piece, and I’m looking forward to seeing more of the same.

Oh, and note:

Then, in a move that sounds like something out of Ayn Rand’s great parody of the New Deal, “Atlas Shrugged,” the president declares he will decide which firms will merge and which will survive, and winds up the day by appointing a desperately pro-union bureaucrat and functionary to “fix things” in autoland — clearly implying what’s needed is not freedom from regulatory and union-contract shackles, but instead some kind of institutionalized hand-holding and lifetime welfare for their workers.

We live in interesting times.

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