10/16/08

Chávez: Comrade Bush

Related: "Socialism is not scary" • More collectivism stories: here

U.S. moves away from market capitalism

Venezuelan President Hugo Chávez joked that US President George W. Bush has started adopting the same socialist economic policies that US economists have criticized in the South American country. Chávez said, with a grin, that a US plan to buy stakes in banks is evidence that the Bush administration is moving away from capitalism.

The US Treasury Department plans to inject $250 billion of taxpayer money into US banks to try to end a credit freeze. "Comrade Bush is nationalizing banks,'' Chávez said in comments broadcast by state television. "Now Bush is to the left of even me.''

In the last two years, Venezuela has taken over electricity, telephone, cement and steel companies as well as oil ventures.

(thestandard.com.hk)

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