Michael Savage, host of "The Savage Nation," called for a return to true capitalism during an appearance on Newsmax on Tuesday, emphasizing the need to move away from what he described as "pro-big business crony capitalism."
Savage told "Rob Schmitt Tonight" arguing the U.S. needs "more capitalism, not crony capitalism."
"There's something interesting in this whole economic revision that's going on," Savage said. "[President-elect] Donald Trump and [Vermont Sen.] Bernie Sanders actually agree on one thing, which is that the economy is rigged.
"I actually wrote in 'Trump's War' that it's rigged for rich special interests and against the rest of America."
Savage quickly clarified his position.
"I'm not a socialist, because there are those who get richer and richer. And Main Street is, for the first time in American history, getting poorer and poorer," he said.
Savage pointed out that while the president-elect and the senator acknowledge systemic economic issues, their solutions differ.
"Comrade Bernie thinks we need even more socialism. And, unfortunately, a lot of young people agree with him," he said.
"Donald Trump and I believe exactly the opposite. What we need is more capitalism, as opposed to the pro-big business crony capitalism that we have now."
Savage said crony capitalism, unlike true capitalism, stifles competition and creates a system where powerful interests receive unfair advantages.
"Pro-business and capitalism are not the same thing," he said.
"Capitalism, as we know, has open competition, and poor people suffer losses when they make bad decisions. What we have now are sellout deals that restrict competition and bailouts whenever the gamblers make a bad bet."
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Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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