Are we socialists yet?

"Are We There Yet, Are We There Yet? - Let’s Check Marx and Engels’s List" by Robert Higgs:

So, here we stand, having come close enough to communism for government work. It is a mistake, however, to call it communism or socialism, because a major part of its genius is its preservation of the form of private property rights, even as the substance of such rights is progressively gutted. Properly speaking, our system is, and long has been, economic fascism ....

.... we can continue down this fascistic economic road only so long. Therefore, in the present distressing circumstances, we may be warranted in asking: is our politico-economic system finally going smash in a frenzy of monetary inflation, bailouts, and government takeovers? We’ll know the answer pretty soon.