Corruption/slang version of "Bourgeoisie" from the 1930's/40's era, most commonly heard in Populist, Socialist, and Union talk.
See Wikipedia for more on "Bourgeoisie"
The common pronunciation of Bourgeoisie" as
" boo - zhwah" should be self-explanatory for this.
"Bushwa" was a 'bridge word' for many people in those times, it could mean "Bourgeoisie" or "Bullshit" or both at the same time
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