The United States Government has shown similarities with the Chinese Government, after it bailed out mortgage giants Fannie Mae and Freddie Mac, and insurer AIG recently, according to donharrold.net founder Don Harrold.
"Our Government is now nationalising private industry," Harrold told InvestorDaily.
"Why don't we start calling ourselves little China?
"Maybe we should nationalise industries like aerospace... you could make the case that [airplane manufacturing giant] Boeing is just absolutely crucial to our national defence.
"They make all those big crazy airplanes that we use to fight our wars with."
Harrold, who teaches investors technical stock analysis, correctly predicted that the Dow Jones Industrial Average would slump after the US Federal Reserve started cutting rates in September 2007.
He said the US Government has set a morally hazardous precedent, where Wall Street firms privatise profits and socialise their losses.
"[AIG] shareholders get nothing and the taxpayers get the bill," Harrold said after the US Federal Government threw the insurance giant a $101 billion rescue loan on September 16.
"How about Google, why don't we nationalise Google?" Harrold said, referring to the listed search-engine giant.
"Seems to me that Google is a public utility these days and before their stock gets hit by the short-sellers, we want to... protect the infrastructure of our internet, so let's nationalise Google."
He suggested Australian financial advisers steer well clear of stocks in the medium-term, as there were more impending US disasters poised to roil global markets.
He said the Dow may fall to 8500 points within several months.
