America turns "communist" to fight CCP "communism".
Of course China is a capitalist country run by a misnamed "CCP", a capitalist party with many capitalist millionaires and billionaires in it's leadership.
But as the US desperately attempts to stave off another financial collapse, such is the level of US state intervention, it is looking more like "communist" China everyday.
The "free market" is a complete joke and has been for decades.
"US Defense Secretary Lloyd Austin issued a directive declaring China to be the “number one” focus of the US military. Austin’s statements followed the “China competitiveness bill,” a massive $250 billion package of corporate subsidies and sanctions that the New York Times termed “the most significant government intervention in industrial policy in decades. The US must urgently work to out-compete China or lose its status as the world’s most powerful nation.”"
https://www.wsws.org/en/articles/2021/06/10/chin-j10.htmlThe Fed’s program of asset purchasing, initiated in response to the freeze in financial markets in March 2020 with the onset of the pandemic, will continue at the rate of $120 billion a month.
The Fed is now on course to hold at least $9 trillion worth of financial assets by the end of this year.
After issuing $1.7 trillion in bonds last year, nearly $600 million above the previous high, the total debt of US corporations at the end of March was $11.2 trillion, equivalent to around half of US gross domestic product.
https://www.wsws.org/en/articles/2021/06/17/pers-j17.html
No wonder the US is driving to war - which will just make everything worse of course.
