It is ironic that this discussion of socialism is engaging a political and media elite that for decades has promoted anti-communism and anti-socialism as a virtual state religion. No faction of the political establishment is advancing a policy that in any way challenges capitalism or the interests of the financial elite. Nor is there yet a mass socialist movement of the working class.

However, there is growing nervousness within this layer over the implications of the capitalist crisis and the potential for mass social opposition to the policies of the ruling class. Thus far, political discussion in the US has been contained within an extremely narrow framework. The diversity of views in the media and on the talk shows encompasses various shades of opinion within the wealthiest one tenth of one percent of the population.

Yet there is an objective logic to developments. At a certain point—sooner rather than later—discussion of policy will escape their tight grasp. The masses of people who are directly affected by the global depression will become involved.

There is a sense within the ruling class itself of an enormous anger building up, which, if unleashed, will assume the form of mass opposition to capitalism directed against the wealth and privileges of the financial elite. They are worried that socialism will then develop not merely as a specter, but as a living political movement embedded in the consciousness of millions of people. And they are right to be worried.