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Ponzi socialism : Why Europe's malaise could come here
NEW YORK POST ^ | January 6, 2011 | Charles Gasparino

Posted on 01/07/2011 6:11:40 AM PST by george76

I Have seen the future, and it doesn't work...

The reason is pretty simple: The Bernie Madoff-like Ponzi scheme of big government has been squeezing the productive class and redistributing its tax dollars and innovation to everyone else for years -- and is finally reaching its boiling point.

And the way things are going, we're probably not far behind.

Barcelona met the new year with the sort of subdued celebration that only 40 percent unemployment can bring. Once-swanky shops and restaurants along grand boulevards such as the Avinguda Diagonal remain vacant...

Across Europe, private-sector jobs are disappearing, while governments face imploding budgets, debt defaults and social unrest. Unless the new Congress can change things quickly, the same will most certainly happen here in America...

After all, this is President Obama's vision for our future, with universal health insurance and entitlements for all -- except, of course, if you own a small business or work hard ...

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Editorial; Government; News/Current Events
KEYWORDS: charliegasparino; europe; europeansocialism; eusocialism; gasparino; ponzi; ponzisocialism; socialism

1 posted on 01/07/2011 6:11:42 AM PST by george76
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To: george76

BHOMayo


2 posted on 01/07/2011 6:20:07 AM PST by FrankR (The Evil Are Powerless If The Good Are Unafraid! - R. Reagan)
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To: george76
All entitlement programs are ponzi scams, once the payout exceeds the income the whole thing begins to collapse.
3 posted on 01/07/2011 6:23:43 AM PST by fella (.He that followeth after vain persons shall have poverty enough." Pv.28:19')
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To: fella

Actually, the whole thing begins to collapse as soon as the entitlement is enacted. It just starts slowly.


4 posted on 01/07/2011 6:27:02 AM PST by fruser1
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To: george76

could? Will!


5 posted on 01/07/2011 7:10:34 AM PST by GeronL (How DARE you have an opinion!!)
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To: FrankR

lol


6 posted on 01/07/2011 7:11:58 AM PST by GeronL (How DARE you have an opinion!!)
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To: GeronL

I think NObama plans to sieze all private pension plans—401 (k)’s, etc as soon as he can. He will try to tell those people that the country needs them to sacrafice to reduce the national cebt.

That is like asking me to pay off my neighbor’s $20,000 credit card & their $100,000 mortgage when I have scrimped to own my home outright & have a lower credit card balance.

It is rapidly coming & I think that this action by NObama will possibly be the trigger for Civil War II.


7 posted on 01/07/2011 9:04:46 AM PST by ridesthemiles
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To: ridesthemiles
I think NObama plans to sieze all private pension plans—401 (k)’s, etc as soon as he can. He will try to tell those people that the country needs them to sacrafice to reduce the national cebt.

Well he's not going to be able to do that with THIS House in session. So you can relax at least until 2012.

8 posted on 01/07/2011 9:31:28 AM PST by Jack Black ( Whatever is left of American patriotism is now identical with counter-revolution.)
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To: Jack Black

What about executive orders?


9 posted on 01/07/2011 9:39:23 AM PST by listenhillary (20 years in Reverend Wright's church is all I need to determine the "content of his character")
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To: ridesthemiles

Even without any state regulation and taxes we still have more than twice as high a corporate income tax as Canada.


10 posted on 01/07/2011 9:49:19 AM PST by GeronL (How DARE you have an opinion!!)
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To: ridesthemiles
That is like asking me to pay off my neighbor’s $20,000 credit card & their $100,000 mortgage when I have scrimped to own my home outright & have a lower credit card balance.

It is nothing like that! Instead:

That is like FORCING me to pay off my neighbor’s $20,000 credit card & their $100,000 mortgage when I have scrimped to own my home outright & have a lower credit card balance.

11 posted on 01/07/2011 10:16:45 AM PST by Onelifetogive (I tweet, too...)
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To: george76
I am now predicting the fall of an EU government sometime this calendar year.

If Obama manages to get re-elected, I predict one here within 10 years after he leaves office.

12 posted on 01/07/2011 1:41:59 PM PST by Lysandru
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