The colossal shipwreck of Europe 2

Socialism doesn’t work.

Mark Steyn explains the colossal shipwreck of Europe, and observes that the Democrats are hell-bent on steering America on to the same rocks.

Here’s part of what he writes:

For Germany an Obama-sized stimulus was out of the question simply because its foreign creditors know there are not enough young Germans around ever to repay it. Over 30 percent of German women are childless; among German university graduates, it’s over 40 percent. And for the ever-dwindling band of young Germans who make it out of the maternity ward there’s precious little reason to stick around. Why be the last handsome blond lederhosen-clad Aryan lad working the late shift at the beer garden in order to prop up singlehandedly entire retirement homes? And that’s before the EU decides to add the Greeks to your burdens. Germans, who retire at 67, are now expected to sustain the unsustainable 14 monthly payments per year of Greeks who retire at 58.

Think of Greece as California: Every year an irresponsible and corrupt bureaucracy awards itself higher pay and better benefits paid for by an ever-shrinking wealth-generating class. And think of Germany as one of the less-profligate, still-just-about-functioning corners of America such as my own state of New Hampshire: Responsibility doesn’t pay. You’ll wind up bailing out, anyway. The problem is there are never enough of “the rich” to fund the entitlement state, because in the end it disincentivizes everything from wealth creation to self-reliance to the basic survival instinct, as represented by the fertility rate. In Greece, they’ve run out of Greeks, so they’ll stick it to the Germans, like French farmers do. In Germany, the Germans have only been able to afford to subsidize French farming because they stick Americans with their defense tab. And, in America, Obama, Pelosi and Reid are saying we need to paddle faster to catch up with the Greeks and Germans. What could go wrong?

  • philabor

    The only trouble with socialism is that eventually you run out of other people's money. -(I think) Margaret Thatcher.
    And our colleges (even many “conservative” ones) are pumping out youngsters that think compassion is building a bigger welfare state that the poor are “entitled” to.
    The economics doesn't work. After putting billions or trillions into anti-poverty programs, we have about the same level of poverty as before, with plenty of crime, drugs and out of wedlock births.

    Phil

  • Bill

    The German model is our future, since fewer educated and highly skilled women are having children in America. The numbers of childless adult women in America keep growing larger.

    There is only so much stimuli that the Democrats can push through before the employed population of Maryland, Virginia, and neighboring states pick up pitchforks and march on the Capital, challenging the Congress critters to come out of their chambers.

    People in the mainstream are still not believing the November 2010 elections will make a difference. Perhaps because we were jilted by the 2001-2006 Republican-controlled Congress who focused on cramming religion and pro-life down our throats instead of walking the walk of cutting government spending. I can appreciate the skepticism, but I think all this skepticism will be rewarded with an iron-clad new contract with America.