Was the Cold War not a contest between capitalism and communism? During the Cold War, the government was involved in the economy as well, although free markets were allowed to drive the vast majority of economic activity. And we called that capitalism. And so it is today. It is capitalism, not statism. If anything short of Ayn Rand's utopia is not capitalism, then we will never have capitalism.
The ironic thing is that had capitalism really been allowed to collapse, the ultimate result would be far, far more 'statist' than anything we have today. So Obama [with Bush circa late 2008] has done capitalism / libertarianism a double favor: first, by saving a relatively free system from collapse, prevented a far more statist future. Second, by bringing conservative anger on him, has energized the libertarians politically through the GOP and tea party. Because of this, he may be one of the most libertarian Presidents in history.
What do Dems feel a need to spin everything?
Capitalism works with no intervention, because otherwise it is uncapitalistic. This intervention was also unsuccessful. Obama relied on the market to bounce back on its own (something it tends to do), so he could claim credit. It didn't work.
