Robert Reich claims Socialism isn't the answer. Suggests turning Capitalism into something that sounds a lot like Communism.

Robert Reich has comrade Obama's complete attention.

Via HuffPo:

Francois Hollande's victory doesn't and shouldn't mean a movement toward socialism in Europe or elsewhere. Socialism isn't the answer to the basic problem haunting all rich nations.

The answer is to reform capitalism. The world's productivity revolution is outpacing the political will of rich societies to fairly distribute its benefits. The result is widening inequality coupled with slow growth and stubbornly high unemployment.

In the United States, almost all the gains from productivity growth have been going to the top 1 percent, and the percent of the working-age population with jobs is now lower than it's been in more than thirty years (before the vast majority of women moved into paid work).[...]

The problem is not that the productivity revolution has caused unemployment or under-employment. The problem is its fruits haven't been widely shared. Less work isn't a bad thing. Most people prefer leisure. A productivity revolution such as we are experiencing should enable people to spend less time at work and have more time to do whatever they'd rather do.

The problem comes in the distribution of the benefits of the productivity revolution. A large portion of the population no longer earns the money it needs to live nearly as well as the productivity revolution would otherwise allow. It can't afford the "leisure" its now experiencing involuntarily. Read more here...

Demo Robert Reich warns rich to redistribute their wealth or face an angry mob or something

Barack Obama seen nodding in approval...

ROBERT REICH: Not only does it hurt everybody, but it also breeds a kind of anger. I mean, so many middle-class people, lower middle-class people, working-class people, are frustrated. They are anxious, they worry about paying their bills. They see people at the very top getting away with, well, the equivalent of murder: look at what happened on Wall Street. There's not a single Wall Streeter that's actually been indicted or brought to justice after that huge implosion on Wall Street. And people get cynical and they get angry.

And then they see, uh, Republicans are very good at channeling that anger toward what? Government, immigrants, public employees. Well, an angry population and an angry populace could just as easily turn their anger toward the very rich. Again, it is in the interest of the people at the top to actually call for a more equitable distribution of the gains of economic growth and a better tax system: a tax system that is fair.

Audio: Obama Adviser Admitted Elderly Would Need to Die Earlier for Health Care Reform to Work

In 2007 Obama economic adviser Robert Reich told a crowd the truth about health care reform. He said, if a Presidential candidate spoke the truth about health care reform, they would say,

"If you are very old, we are not going to give you all that technology and drugs for the last couple of years to keep you maybe going for a couple of months. It's too expensive. So, we are going to let you die."

Obama economic adviser Robert Reich laughed at for For Saying Stimulus 'Keeping People Employed'

On CNBC, Reich was explaining to hosts Melissa Francis and Lawrence Kudlow how things would be much worse if not for the stimulus package. They could barely contain their laughter. The 17% of Americans without jobs aren't laughing.

From NewsBusters:

Former Clinton Labor Secretary and current Obama economic advisor Robert Reich was laughed at Friday for claiming "the stimulus package is the thing that is actually keeping the economy up, keeping people employed."

In a discussion on CNBC about the larger than expected September job losses reported Friday by the Labor Department, Reich was explaining to hosts Melissa Francis and Lawrence Kudlow how things would be much worse if not for the stimulus package.

He also implied that things won't get better until healthcare is reformed.

In the middle of this absolutely absurd statement, Francis and Kudlow appeared to look at each other with the former breaking out into laughter and the latter doing his best to hold it back (video below):