6-30-15 – Bernie Sanders’ Socialist Model… And Greece’s

by John McClaughry

Presidential candidate Bernie Sanders now has the opportunity to tell America what it can become when he’s in charge. He only needs to point to the notable socialist government of Greece. Here’s Jim Geraghty of National Review:

“Greece has moved to close its banks and impose capital controls to prevent financial chaos… There will be limits on withdrawals from cash machines. The cashing of cheques would be halted and the stock exchange was about the be  closed.”

“Greece is a left-wing entitlement mentality run amok, far worse than the United States, and we may be about to witness an epic economic ‘teachable moment.” We’re familiar with the Margaret Thatcher line that the problem with socialists is that they always run out of other people’s money. In Greece, they look like they’re about to run out of other people’s money and it’s going to be delicious as a nutty far-left government gradually recognizes that no one is willing to loan them anything.”

George Will adds: “There cannot be too many socialist smashups. The best of these punish reckless creditors whose lending enables socialists to live, for a while, off other people’s money. The world is indebted to Athens  for the reminder that reality does not respect a democracy’s delusions. This protracted dispute will result in desirable carnage if Greece defaults, thereby becoming a constructively frightening example to all democracies doling out unsustainable, growth-suppressing entitlements.”

On second thought, Bernie probably won’t use this example.

– John McClaughry is the founder and vice president of the Ethan Allen Institute

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