The Greeks elected a far-left government as an angry
reaction to the dramatic cuts to programs that government-dependent Greeks rely
on. And the value of Greek bank stocks tumbled by 40 percent on rumors the new
government planned to default on its debt to international creditors. In
Madrid, Spain, thousands took to the streets to express their anger at
government cuts in order to pay off their welfare debt. The politics of
redistribution – whether it’s called socialism, collectivism, or hope and
change – is in free fall. But you wouldn’t know it by reading news reports.
More… 
Thursday, February 5, 2015
Greece, Spain and Venezuela: Socialism’s last hurrah
The Greeks elected a far-left government as an angry
reaction to the dramatic cuts to programs that government-dependent Greeks rely
on. And the value of Greek bank stocks tumbled by 40 percent on rumors the new
government planned to default on its debt to international creditors. In
Madrid, Spain, thousands took to the streets to express their anger at
government cuts in order to pay off their welfare debt. The politics of
redistribution – whether it’s called socialism, collectivism, or hope and
change – is in free fall. But you wouldn’t know it by reading news reports.
More… 
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