When the party is over, who will bail out the American Socialists?
In the late ‘70s, when the money was all gone. The Labour Govt had to go begging to IMF for a loan to stabilize their country. As has Greece recently had to do. And what happens when Uncle Sam has spent himself into chaos and needs to hit someone for a few bucks?!
Look Back at the Socialist Ignomious Shame of History’s Largest Empire:
Production ceded to better and more diligent competitors in Germany, Japan and Taiwan. Everything from schooling to health was virtually free, all in addition to the huge dole bill. The unions who put the UK socialists into power were asking double digit pay increases. When their govt required pay restraints to curb inflation of 26% they continually went on strike in an annual worsening cycle of implosion.
The rich were paying 75% on their last tax slice of income.
The industry was paying hyper inflation wages in lieu of re-capitalisation. Many large industries failed under the strain and were nationalised.
Well it led to a Conservative backlash when Maggie Thatcher came in and managed to set things right. But this was not until after the previous govt had gone to the IMF begging for a few billion to stabilize their inflation and crisis (Callaghan’s What Crisis?).
Who can America borrow a few trillion from when it all goes south?
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