Economic laws, like physical laws, cannot be ignored for long. Here's a great article on what happened in Argentina. Be sure to note the parallels to what our wonderful gubmint is doing here!
An excerpt:
Consider Argentina. In 1914, it was one of the wealthiest countries in the world, and its living standard exceeded that of Western Europe until the late 1950s. Then President Juan Peron squandered his nation's prosperity by introducing a host of redistributionist economic and regulatory policies, nationalizing utilities and foreign investments, and pumping up the national debt. What followed was three decades of political instability, growing dependency, and economic stagnation
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