Langone to millennials embracing socialism: 'I'll put you on my plane and fly you to Venezuela'

[goodwithagun]

Just after the 10th anniversary of the fall of Lehman Brothers, co-founder of the Home Depot (HD) Ken Langone cited the market crash that followed as the reason many millennials have a negative view of capitalism.

“They were 8, 9, 10, 11, 12 years old,” Langone told Yahoo Finance’s Julia La Roche at the All Markets Summit on Sept. 20. “So capitalism did not present itself very well.”

Langone went on to suggest that countries that have adopted a socialist system aren’t doing well. To the millennials who seem to favor socialism, Langone said: “I’ll put you in my plane and I’ll fly you down to Venezuela, and let’s see how good socialism is doing down there.”

Read more here: https://finance.yahoo.com/news/langone-millennials-embracing-socialism-ill-put-plane-fly-venezuela-112048374.html

[goodwithagun]

Fantastic article, worth the short read. He goes on by refusing to apologize for his wealth and points out how much wealthy people choose to donate. Mic drop moment.

[Applewood]

Spot on. 

The reason the young people favor socialism is that they are being taught by commie teachers and professors that capitalism is evil and socialism is good.  Mr. Langone is correct that socialism has failed in every country it has been tried and in many countries like Venezuela, it has brought the people nothing but misery.  The few countries which seem to do well under socialism are basically being propped up through massive debt and high taxes.  But the younger generation never hears about the downsides of socialism from their teachers.  And God help the kid who does know the truth and tries to confront the teacher who is indoctrinating him and his fellow students.  He will be ridiculed, thrown out of class -- anything to shut him up.