Socialism Fails

Advocates of socialism have for years pointed to European nations as proof to their arguments that centralized economies work. Several Euro-zone nations have implemented varying degrees of government subsidies and social services without introducing the cruelties of communism or some other form of totalitarianism. Consequently, some of our own citizens have wondered why America cannot climb onto the European socialist bandwagon. Indeed, several guests on talk shows over the past few months have treated those who warn of socialism’s dangers as if they are merely conjuring up a false “bogeyman.” According to them, there is nothing to fear from socialism.

Those honestly seeking truth have understood all along the dangers of socialist economies. Whether implemented with or without totalitarianism, socialism always fails. It cannot support its own weight. As a saying goes, “socialism works great until it runs out of other people’s money.” Look at those same European nations that have been held up as socialism’s models. They are in chaos. Their economies are collapsing. In fact, they would have collapsed already if not propped up by external infusions of capital. How did they achieve these dire straits? After running out of their own money to support their redistribution of wealth scams from the productive to the unproductive, they commenced massive borrowing. For awhile, accumulating sovereign debt works; therefore, socialism continues to appear to work. Citizens and politicians remain duped and willfully ignorant of the truth. Eventually, though, the bills come due, and creditors stop accepting more debt as payment of debt. In other words, they can no longer pay their credit card bills with credit cards. So entire nations wake up to the reality that they are bankrupt. What happens to government social services then? Ask the citizens of Greece; they are experiencing it firsthand.

What does this have to do with Americans? We are on the verge of finding out, friends. If it were just that we will be losing the European portion of global economic recovery, that would be bad enough. Unfortunately, it’s worse. Compare America’s spending, debt, and deficits to those of failing European nations, and we sadly discover that our numbers are no better. In fact, they are worse than some of those nations already facing austerity measures. In all likelihood, we are seeing the proverbial chickens come home to roost as a result of our lifetime of unnecessarily reckless runaway spending. It will not be a pretty picture. But that’s socialism for you.