Richard Nixon and The Great Socialist Revival

[CityGirl]

Take a stroll down memory lane to 1970 and look what you will find. A story of too big to fail?

The link is to a 1970 issue of the New York magazine and an article written by John Kenneth Galbraith

http://books.google.com/books?id=9O...s this great new thrust to socialism.&f=false

I wish you would read it and compare and contrast to current political/economic events.

 

[Doc]

Good find CG. Surprising, but also tame by today's standards. Look at the Lockheads and General Dynamics Corperations who have thrived. No wonder. As for Penn Central that money was thrown away.
The article stated the utimate goal was the take over of Wall Street. It appears we have just witnessed that.
The last paragraph is quite insightful:

But we could be seeing not a deliberate and well planned thrust toward socialism but one of the less dramatic tendencies of capitalism. That is the tendency to say to hell with principle when the prospect is for losing money and go for any port in the storm.
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