Allen B. West

HUH? Obama says not much difference between capitalism and socialism — but here’s the part I agree with…

Getty Images

After his tango solo, instead of being back in America or heading to Europe showing leadership to deal with global Islamic jihadism, President Obama was in Argentina lecturing young people on economic theory.

One thing is for sure — if any of you’ve studied the economic history of Argentina, you’ll see what government-centered socialist economic theory does to a nation. Then again, you don’t need to look at Argentina; do a case study anywhere in the world it’s been tried. It’s failed.

But apparently, President Obama skipped that part of his education alltogether.

Advertisement - story continues below

Related Stories

White House makes announcement that should SINK Hillary’s shipWendy's makes HUGE change after $15 minimum wageObama finally ADMITS: "I have always..."

As reported by, “Thanks to advances in technology, “You don’t have to settle for the world as it is; you can create the world as you want it to be,” President Barack Obama told young people in Buenos Aires, Argentina on Wednesday. “You have the freedom to build the world in powerful and disruptive ways.”

One of the young community organizers at the town hall picked up on that point, saying she honestly believes that the world needs to change. She asked Obama for his advice on creating social change — in her case, by empowering young people living in poverty.

In the course of answering the question, the president indicated that the “sharp division” between “capitalist and communist or socialist” is starting to blur, and instead of clinging to any one of those ideologies, people should just do what works to create change:

“[S]o often in the past, there’s been a sharp division between left and right, between capitalist and communist or socialist,” Obama said. “And especially in the Americas, that’s been a big debate, right?

Oh, you know, you’re a capitalist Yankee dog, and oh, you know, you’re some crazy communist that’s going to take away everybody’s property.” And, I mean, those are interesting intellectual arguments, but I think for your generation, you should be practical and just choose from what works. You don’t have to worry about whether it neatly fits into socialist theory or capitalist theory — you should just decide what works.”

I think someone this Easter weekend should share with President Obama the sage words from the wise and great King Solomon, Proverbs 17:28 (NIV), “Even fools are thought wise if they keep silent, and discerning if they hold their tongues.”

First of all, the fella who delivered the insidious statement, antithetical to the American entrepreneurial spirit, “if you own a business you didn’t build that”, is now offering advice on economic empowerment?

Sadly, the progressive socialist policies of one Barack Obama have done nothing but expand the economic enslavement of the welfare nanny-state. And for Obama to try and conflate free market/free enterprise capitalism with socialism, or worse, communism clearly displays a delusional comprehension of economic theory — Friedrich Hayek and Milton Friedman are certainly choking right now. Someone get them a glass of water.

Even U2 front man Bono stated free market capitalism has done more to eradicate poverty than any other economic system. Now, perhaps Obama was referring to “crony” capitalism where government attempts to select the winners and losers in the marketplace — such as failed schemes like the Solyndra debacle. Obama has been a very adept practitioner of government venture capitalism, where American taxpayer dollars support private sector endeavors based on political ideological agendas. And just so you know, shame on the GOP for resurrecting the dead Export-Import Bank. Taxpayer largesse should NOT be used to bolster a government-established export credit agency. As well, I believe it was during the Clinton administration when the venerable Glass-Steagall Act, which kept a separation between commercial and investment banks, was abolished — clearing the path for the 2008 financial meltdown rooted in the mortgage industry and the securitzing of toxic asset mortgages. And the genesis of all that was a government-attempted “guarantee of happiness” courtesy of Jimmy Carter’s Community Reinvestment Act.

You see, this is what happens when a progressive socialist conflates a “social change” economic program with the free market/private sector. It never ends well.

Now, I must ask the obvious question. What in the Sam Hill is Barack Obama doing holding a town hall meeting in Buenos Aires, Argentina? If there’s any place Obama should be holding a town hall meeting, it would be in Brussels Belgium, where there’s a real issue needing the attention of leadership. I suppose I just answered my own question. Apparently, Obama is lobbying for his next position, U.N. Secretary-General. Now, if that were EVER to happen, we should definitively drop out of the United Nations and take our dues with us.

So anyway, back to Obama’s case study of economic theory. I will agree with his conclusion — “you should just decide what works.” But what works is a system based on individual sovereignty leading to individuals’ ability to use their resources to invest in their own ingenuity, and result in the next great technological innovation. That’s the true free market, which has produced incredible achievements. It’s the free market that honors the worth and value of the individual. Now, I don’t know how well this translates into Spanish, but let me share with you a great definition of socialism from a great man.

“Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery” — Sir Winston Churchill.

I don’t expect such a definition to flow from the lips of President Barack Obama, but perhaps, someone down in Argentina will share this post with the young people who were at that town hall. Doggone, I just want the young people here in America fawning over Senator Bernie Sanders to read those simple — and true –words.

White House makes announcement that should SINK Hillary’s ship

White House makes announcement that should SINK Hillary’s ship

Wendy's makes HUGE change after $15 minimum wage

Wendy's makes HUGE change after $15 minimum wage