I don't believe it is a misconception, the leadership knows the difference but good little cogs like WTF, CJ, STEVIE, et al just accept what they've been told. No questioning, no critical thought, just blind acceptance.
It is true that the left believes in World Wide government. Have you ever heard of COMINTERN. It is international communism. It was strong in the 1930s but got tarnished during World War II. In fact the goal of international government is still central to communism.
I have wonder about the whole economic collapse thing. As we've been told these are the worse economic times of the last 70 years and what do we get? Class warfare, Occupy, a food stamp generation, a good start to a lost decade, and attacks on the job producers. Imagine if acknowledged unemployment reached 30%. Funny how no one is talking about the cooked unemployment numbers anymore. What would Obama do if thousands of Americans started camping out across the street in Lafayette Park as they did in the 1930s? Our leaders are too isolated from the pain that is going on out there and reelection is too certain. Failure is rewarded, incompetence means promotion, and corruption equals enrichment at the taxpayers expense. The framework is still good but the bureaucrats and entrenched political classes have to be turned out.