Let's see... do folks in the US like their police, fire, and infrastructure (roads, power, water, etc.)? Because that's all socialism. The US, and every other western capitalist society, is a hybrid of socialism and capitalist principles, applied where each society thinks it best and most reasonable.
The reason socialism was so attractive in the 30s and 40s, and the rise of things like the Nazi party, was due in large part to the complete and utter failure of unrestrained, unhybridized capitalist principles of the early 20th century. The Great Depression was seen, and rightly so, as the sad outcome of fanatical devotion to pure free-markets; one that produced pathological results. Socialism was an attractive alternative that seduced many during this time, but we can see how well that turned out.
So what have we learned from history? That, like with most things, moderation is key when it comes to managing your economy and market forces. Unrestrained fanatical adherence to any single market ideology will inevitably result in turmoil. Rational and sane folks know how to synthesize the successful traits of socialist and capitalist ideology into a functioning modern market system. In fact, this is the very definition of synthesis; out of thesis and antithesis comes a new, more holistic understanding.
Luckily for us, anyone living in a modern western/European nation is enjoying the benefits of an economy that integrates socialism and capitalism at different levels, in different places, where it seems most appropriate for each. Different societies squabble about which is appropriate where, painting either side with huge and inaccurate brush-strokes of improperly used terminology, while conveniently forgetting how much they currently rely on the synthesis of both.
So no, socialism is not necessarily bad, unless you'd rather be living in a "Jungle"-esque world once again, poised on the brink of an economic depression that spanned decades, ending only after radical government intervention in all areas of industry from many nations as part of a war effort that killed millions around the globe.