Tuesday, January 27, 2009

Socialism is not the answer

As I was perusing Drudge Report yesterday, I noticed this article on the collapse of the Icelandic government following the economic collapse that occurred a few months ago.

The causes of Iceland's financial woes are similar to the problems our nation currently faces: Rapid expansion, deficit spending, inflation, unemployment, foreign debt, and a devalued currency.

I shook my head as I read further:

Haarde's government has nationalized banks and negotiated about $10 billion in loans from the IMF and individual countries.

"Fools," I thought. "When will the world wake up and realize that socialism is not the answer, and you cannot spend your way out of debt."

Then, with disbelief in horror, I clicked on another article linked by Drudge.

Pelosi: Nationalization of Banks Possible

Some will never learn.

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