Nonesense. That is just a subjective reaction.

American capitalism got kicked in the shins, perhaps a bit higher, but it is far from gone. What you have is a touch of socialism and a mild version at that.

Nor is capitalism a bad idea. It has been mamed by greedy people in much the same maner as communism was damaged by people seeking absolute power.

The same argument could be made that capitalism is alive and well in Russia and China, but that idea is no more valid than the above title.