I would like some specifics about crazy profits being made out of US wars that doesn't involve citing a handful of war profiteers or the WWII economy.
Let me answer this part aimed at me although whole post is pointless and fits into category: "How come that cow that eats green grass gives white milk".
All right, after the war is over who gets the contracts of oil extraction, who gets the jobs of rebuilding destroyed countries? Who gets massive piece of already massive US military budget before the war starts? Let me throw few names at you since thats what you're asking: Bechtel, KBR, Blackwater, Halliburton, Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics.
I also think it's odd that you think the building industry gets a great deal of benefit from warfare when the option of profit from rebuilding war's destruction hasn't been viable since the 1860s. If you don't happen to know wars rarely involve battles on US soil currently.
Why is it odd? Why is not viable? Those costs are payed by invaded country (delegated by marionette government you installed)
Costs are paid by people... Hmmm, don't forget the corporations and other companies that also pay taxes through the nose to support warefare and its hardware. And what is socialized debt then? Does that mean any company that makes a profit automatically owes society money?
So lets see everyone pays taxes, rich people proportionally pay less than poor people.
For their tax dollar rich people and corporations mold the US foreign policy and get massive profits out of pointless wars. And also are given taxpayers money to cover their crappy business decisions.
On the other hand poor people for their tax dollars are called communists and unpatriotic because they can get to doctor when they're sick.
What is amazing that it is socially unacceptable to complain about billions spent on army, while public healthcare system is fair game, and is presented as root of all evil.
As for your question what is socialized debt, let me say it this way: all of the wars, bailing of the banks, everything is payed by the taxpayers money for sole purpose of enabling extreme profits for small group of people.