China and the USSR were not economically socialist or communist. They were economic dictatorships with a few socialist policies.

Socialism, cannot happen until capitalism has run its course. Socialism is the bridge between capitalism and communism.

Socialism is equality in power. A dictatorship of the working class. If one man, Stalin, is deciding to starve millions of his people, that is not socialism by any means or measure.

You are seeing the end game of capitalism now and just as predicted, the end of capitalism will bring the rise of socialism. As more and more jobs are lost to automation and robotics, scarcity will begin to vanish and the majority of people will no longer need to work traditional jobs.

Truck drivers, taxis, bus drivers and all the other professions that involve vehicles will no longer exist. They will be self driving.

The factories, the fast food cashiers etc...will all be automated as well.

Continued out sourcing to 3rd world countries will ramp up as citizens of 1st world countries begin to gain the ability to fight back and demand higher wages.

You cannot have ever increasing profits. Its not mathematically possible so to increase them when there is no more room for ethical roads to go down...you will cut wages/benefits and then outsource to countries where you can exploit the workers.

Youre already seeing this now.

Even capitalism, in its purest form, isnt viable. Thats why ever successful nation is a hybrid system.

The thing you should be worried about his how a capitalist nation like the US will deal with this coming situation. The "pick yourself up by your bootstraps" mentality that has destroyed the middle and lower classes will have no answer except, "let them starve. Shouldve been born rich before the robots came along!"