With government now taking ownership stakes in banks and car companies, all we’ve been hearing is how we’re riding a slippery slope towards the dreaded “S” word.
Well, Conor Clarke of The Atlantic put together a handy dandy pie chart to show just how serious this problem is…
Oh my…how long before we reach 0.5%?!?!
Let’s remember that Obama has said repeatedly that the government is taking an ownership stake (meaning owning stock, not controlling the companies) only for the time being. He wants AIG and GM to eventually go private again. But because the bottom dropped out of our economy, letting these companies fail during a uniquely and unnaturally economically depressed time might not be in the best interests of our long term strategic goals.
Oh, and there was that whole cascading worldwide economic collapse thing. That might have pissed some people off too.
So remember this pie chart the next time somebody talks to you about socialism. And then point them towards the actual definition of the word. That should be a good way to start a debate.