Socialism Ruins Nations And Destroys Economies

Socialism: The Pain In SpainSpain: The Atlantic reported in 2013 that in just “a few years, Spain had gone from budget surpluses, a growing middle class, and generous social supports to wrenching austerity policies and collapsing wages, triggered by the massive failure of Spanish banks.” At that time, “Spain’s decades-long economic model was coming undone.”Spain had been a “modern, wealthy, technologically advanced European social democracy.”But then, wrote Steven Hill in The Atlantic, “the Socialists launched the largest stimulus package in the European Union, as a share of the economy. But despite this intervention, the Spanish economy was still stagnant by 2010 and the deficits were staggering.”The national debt doubled “practically overnight.”Banks and governments failed, taxes were raised, unemployment reached Depression-era levels, and the economy became a wreck.Spain, says Moore, is just another one of those countries that “experimented with quasi-socialist governments” and has had to pay “the bitter price” for indulging in the exercise.Don’t think that the American Democratic Party’s attachment to socialism is only at the extreme fringe. A recent Gallup Poll found that 57% of Democrats and Democrat-leaning independents hold a positive view of socialism, while just 47% favorably view capitalism. It seems impossible that America could ever become one of the countries that has been ruined by socialism. But these numbers don’t inspire confidence.

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