Unpleasant truth #43,765½

As we've observed before, it seems to be a chronic condition of Western democracies that pusillanimous politicians promise far more than they can deliver — and then, almost in unison, blame capitalism (the only real wealth creator) for their ills.

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Whether it's Japan, the U.S. or Western Europe, nations today face a surprisingly similar litany of problems: too much spending, too much welfare, too many taxes, too many regulations. These are the policies that have pushed the most economically successful nations in world history to the brink of financial ruin.

"Is Greece Just Tip Of The Iceberg?" Editorial, Investor's Business Daily, 5/3/10.