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Socialism Won in Iowa on Monday

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Via Economic Policy Journal

While the official count from the Iowa caucuses is yet to be announced, it was clear from anyone watching the news reports from individual caucus districts last night that Bernie Sanders and Elizabeth Warren were big winners.

Joe Biden, the “centrist,” appears to have crashed and burned.

It is just the start of the primary and caucus season and Sanders and Warren may not be able to carry the socialist ball across the goal line but that they are displaying so much strength in middle America is disturbing.

A good chunk of middle America just does not understand the horrors that central planning brings, especially the youth. It appears that Biden and Warren were particularly strong in college areas.

This is a major negative sign for the future of America. Unless something drastic changes in the thinking about socialism, and soon, the United States may be on the road to eventual radical wealth distribution that will destroy incentives and shrink the capital pool that is required to produce goods and services.

Regulations interfering with private sector businesses will increase exponentially as will the size of overall government spending as a percentage of GDP.

The  Swedish economist (and socialist) Assar Lindbeck stated: “In many cases rent control appears to be the most efficient technique presently known to destroy a city—except for bombing.”

For Biden and Warren, rent control is an obvious tweak. They would go well beyond that in the bombing.

This time around, it might not be Biden or Warren but there are even more extreme socialists in the wings. The idea that climate change will destroy the earth in 12 years is absurd but the potential of socialism to destroy many millions on earth is a very real threat. Iowa is a warning that the socialist disease is active amongst us.

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RW


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