Credit markets are locking up all over the continent; meanwhile, trillions have been pumped into their banks in an effort to keep them afloat. But their situation is so bad that they cannot even take the risk of making business loans. Employment is shrinking, and tax revenues are falling. Internally, the socialist cash-machine is running empty as other people’s money dries up. It is all happening just as reader of American Thinker foresaw.
The welfare state’s demise, long inevitable, will be painful and ugly, and it will harshly impact the weakest and the most innocent of the population. After all, the welfare state defies the laws of economics and the laws of mathematics. Take notice as the liberal and socialist agitators and pundits shake their collectivized fists at the sky and curse the gods without any noticeable change. The facts on the ground will do what they will, despite rhetoric or political pontifications coming from any quarter.
One of the first organs to fail is the socialized health care program. No matter its stated merits, a serious and impactful socialized medicine program is simply too expensive for any state to long sustain.
For months prior to the passing of ObamaCare, we were told — repeatedly — how it would “bend the cost curve downward” and open up better health care for millions of Americans…all at the same time!
What is also important to make note of is that these socialized countries do not have the traditional bogeyman that leftists point their finger at: a revenue-hungry military. The Greek military is small to the point of insignificance. The same is true with Spain, Italy, and most others on the continent. Their defensive needs were being functionally met and subsidized by the United States.