Is America Socialist? Or is it a shining exemple of capitalism? It really is hard to know.
Now that China is suffering from a downturn, the government there is propping up their share market by buying assets and everyone is finger pointing, saying this sort of socialist intervention in the economy doesn’t work.
But in the US, the Fed intervened in the economy to prop up asset prices after the GFC, and the size and reach of the US government increases all the time, even or especially when Republicans are in power.