Is the current European debt crisis a result of socialism?

It looks like Greece, Portugal, and now Spain all have their credit rating cut. What do you expect from socialism.|||It doesn't really matter what type of government you have, if you have morons in charge of the spending you end up in a debt crisis!!!!


Obama and his goons just don't get it, or wait, maybe they do! They are TRYING to bankrupt the nation. They are PURE EVIL!|||DUH!!!|||Yes it is.|||Of course it is.|||Yes. It's from promising GOVERNMENT workers and other lazy shifltess losers too much stuff.|||You realize our debt is much higher than all of those countries combined, right?|||All three are capitalist countries.|||Yes, and if Obama has his way we will be in the same position.|||It's not because of that|||You don't know anything - literally nothing at all - about any of those three countries. And yet you pretend that your big sloppy labels will stick to them. That's silly.





These three states have complicated problems, and they're different in each case. Reducing them to some dumb label doesn't do anything to move the debate forward.|||Yes it is a result of socialism, Give people things that they do not have to work for and they get lazy. That is exactly what happened in Jamestown when this country was first colonized. Everyone shared equally in the harvest of the crops, so those that worked hard got the same as those that were lazy. It didn't take long before the real lazy ones just sat around and did nothing because they relyed on other people do do the work so they could eat. The Leader of Jamestown saw the problem during the second winter and changed the way things operated. Those who worked hard were able to keep all that they harvested and sell the excess for profit. Basically the rule was if you don't work you won't eat. That was America's first experiment with socialism it was a failure.|||You know, you can believe whatever you wish, since this seems to be primarily a matter of faith to you, rather than a search for truth. But the source of the financial crisis was the US, the most free market in the 1st world. The problem that Europe has is that the Euro is pegged to the dollar, so whenever we sink, they are coming with us. It should be obvious also that our country does not go bankrupt because we have unlimited access to borrow more US dollars from the Federal Reserve, the so-called printing press.|||Socialism caused production to decrease because of the penalties associated with doing business with those countries . However , positive immigration and birth rates caused more unemployment and debt from financing social programs .





Capitalism creates unlimited opportunities and socialism usually destroys them . European style Socialism relies on capitalism for its tax base and can only survive if the population remains stable . This means no lazy people waiting for hand outs , no new job seekers from other countries , and a population willing to accept a constant decline in standard of living .|||No - the exact opposite if anything.





Greece, Spain and Portugal are all capitalist countries.





What caused the economic crash was speculation on the part of banks, trying to lend people money to buy things, when there was little hope of this ever being paid back. This caused a financial "bubble", which burst when the banks themselves collapsed, with international consequences.





America and the UK were just as badly affected as the European countries you mentioned. If it was not for "socialist" measures, in the form of the government bailing out the banks by nationalising them, things would have been much worse.





It is speculators who have made Greece's situation much worse. Government bonds were declared to be junk, with the result that the currency nosedived, and the stockmarket fell. This was intended to pave the way for "reforms", i.e. privatisation of those parts of the economy that are held by the state. This isn't socialism, it is naked capitalism and its pursuit of profit which has caused this recession and made the problem much worse.|||Ehhhh its definitely not as simple as that. Probably doesn't really have to do with it. Im not saying socialism is good however, i think it is the least efficient, least fair, downright worst system of government.





In regards to a few of the other posters, yes our debt is much higher than these three countries, even combined, but that doesn't matter one bit. It's the percentage of that debt to GDP or GNP. And ours is lower. Basically we're in much better shape than they are debt and government-wise, relatively speaking.





And one other thing, i had to correct this. In NO WAY is the Euro pegged to the Dollar. That was a completely stupid thing to say....|||Yep.





Hopefully the unicorns will come down and pay off the debt with rainbows and love.|||The debt crisis has nothing to do with Socialism at all. Greece, Portugal and Spain are capitalist countries (based on wage labour and production for profit). Socialism is a moneyless classless society, something quite different.|||No,it is result of corruption in the southern countries.Besides socialism we must be wary of the dangers of Fascism which appears strong in usa today although signs of hope if Goldman Sachs is severely penalized.Giving billions to corrupt corporations is sure sign of Fascism.|||Yes - the entitlement mentalitly that breeds a drone existance and a compliant, willing second class citizen because "at least we have just enough to get by" causes people to never invent anything or strive to be all they can be so the economy suffers multiple ways. entitlments, less productive and no innovation for exporting|||Any government that spends too much money is going to fail, it doesn't matter weather it is capitalist or socialist. The difference is more money can be earned under a capitalist leaning system than under a socialist leaning system because capitalism rewards hard work and success while socialism punishes it.





To be fair Greece is a socialist leaning country not pure socialist, just as America 'was' a capitalist leaning country not pure capitalist (America is moving more toward socialism every day).


Ps. no country has been a pure capitalist country since the start of the anti-constitutionalist movement, aka the progressive movement.





@Pedro- Fascism is a form of Socialism. Remember that Nazi stands for "Nationalist Socialist." The Fascist believe in a large national government and national redistribution of wealth while communist believe in a large global government and global redistribution of wealth. Both believe in armed revolution and Marxist principals and both require total government.


Neither Fascism or Communism is much a a threat to America because the American people will not stand for armed revolt when we can still vote people out of office. The threat to America is the progressive movement because they also believe in Marxist principals but they wish to achieve it through evolution not revolution. Basically the progressives want to 'progress past' the constitution and individual rights in order to place a socialist utopia.|||Yeah, do you want that in America? Ta Da! Thats why we need to vote out european demonrats!