"The problem with socialism is that eventually you run out of other peoples money" - Margaret Thatcher
This is probably the most famous quote used by the former British Prime Minister whenever she needed to highlight the truth about the world's most destructive and bloody economic philosophy.
The quote is actually a contraction of a sentence she used during a television interview back in February 1976. If politicians and their client communities had listened to her then they would have saved themselves and their posterity a lot of poverty, misery and distress.
The full quote is as follows:
"...and socialist governments traditionally do make a financial mess. They [socialists] always run out of other peoples money. It's quite a characteristic of them".
Love her or loath her one cannot ignore her political message which is as true today as it was in 1976; in fact it's as true today as it has always been throughout recorded history.
As the Greek people wallow in the misery of their own making, it's worth reminding them that since successive governments in Athens ran out of other peoples money their country has taken over the ignominious mantle once held by Great Britain of "the sick man of Europe".
One would have thought that the Greek people would have learned from the British people's experience and consigned every socialist politician to the dustbin of history where they so rightly belong.
Prior to the Iron Lady assuming the British premiership, the socialist governments of Harold Wilson and James Callaghan had instituted a policy of managed decline of their once great nation into mediocrity and welfare dependency.
As is the case with Greece today, the British government ran out of other peoples money causing, among other things, a Sterling crisis; they were forced to take a begging bowl to the International Monetary Fund for a loan - they in turn imposed the required government spending cuts as a condition.
The all powerful public sector trade unions, who were ideologically opposed to any spending cuts whatsoever, flexed their muscles by striking work in selected industries. The government's hands were tied by the IMF imposed spending cuts leaving the unions with no choice but to strike work again. This action brought the entire country to a halt imposing misery and hardship onto the people, including their own members.
As a salient point of history, it's worth noting that most of British industry was nationalised after the WW II by the incoming Labour government in a drive to impose a socialist economy on the nation.
These industries were run by the trade unions who were in turn run by communists or communist sympathisers. In fact some were directly financed from Moscow. They were grossly overmanned, inefficient and a drain on the entire economy.
The whole shambolic mess came to a head in 1978 with what has gone down in British history as the low point of British socialism, 'the winter of discontent' and the title of "the sick man of Europe" was bestowed on a dispirited nation. Whatever is happening in Greece today, the British people endured the same or worse almost two decades ago.
Mountains of rat infested, uncollected rubbish littered public spaces, transportation came to a halt, power cuts crippled the nation, food and other commodities were in short supply, industry was reduced to a three day week and - most shamefully - the dead were left unburied delaying their journey to the hereafter.
The rest is history, the Iron Lady believed Great Britain was still a great nation and the people deserved more than managed decline and the ignominy of socialist imposed mediocrity. She believed the British people were still capable of innovation, hard work and wealth creation.
She believed that free market economics and less government interference in peoples lives and businesses would deliver prosperity for the many and history proved her to be right.
She took on and beat the ideologically driven political class and the establishment along with the vested interests that thrive on poverty, mediocrity and misery. Prior to their conversion she earned the enmity of millions, including your humble corespondent, but only until the fruits of their sacrifice became tangible.
She went on to win two more election victories before she was stabbed in the back by the Europhiles in her government because of her resistance to forced integration into the European superstate we see today.
So why didn't the British people heed the advise I am giving to the Greek people today? The answer lies with the long planned project to install a pro-EU government in Westminster for long enough, not only to dismantle and reverse the Thatcher successes, but to make them irreversible in the future.
This became the New Labour project fronted by a manufactured, telegenic political phony named Tony Blair. Despite claiming to be a socialist he set about cleansing the Labour Party constitution of any contentious vote losing articles including the infamous Clause 4. This clause committed all future Labour governments to the wholesale nationalisation of British industry. Socialism in one clause as it was labelled at the time.
The New Labour project included stuffing the establishment and national institutions, including the NHS, the BBC, the judiciary, the police, local government, government departments, the civil service, charities etc. etc. with Common Purpose trained operatives dedicated to replacing the traditional way of life with a so called 'multi-cultural society'. This was in preparation for integration into the European Union superstate. Better known as the United States of Europe.
As we know to our cost the EU itself uses the old Soviet Union as a template with its out-of-control spending, its suspension of democracy and its unelected, unaccountable bureaucracy.
Blair was completely in thrall to the EU and did their bidding without question. In addition to surrendering swathes of British sovereignty, he negotiated Great Britain's adoption of the Lisbon Treaty, opened the borders to mass immigration and spent like a drunken politician on expenses until he too ran out of other people's money.
The British economy has yet to recover from the Blair/Brown Labour Party years with inherited deficits and debt still at record levels and no let up in sight for the hard pressed taxpayers, consumers and savers.
There are other examples of governments around the world spending other peoples money into oblivion but it would require a tome larger than the tax code to document them all.
It must be heartening to know that the socialist President of bankrupt Venezuela, Nicholas Maduro, has sent a message of solidarity to the Greek people. That would be the same oil and resource rich Venezuela that has managed to engineer a shortage of money, utilities, food supplies and consumer items including toilet paper and condoms.
The Greek people are in a unique position whereby they can not only to change their own destiny for the better but also that of the entire peoples of Europe and the world.
They should vote to restore their dignity as well as their democracy by rejecting the terms of the EU/IMF stitch up in Sunday's referendum. They should vote not just leave the flawed Eurozone, but to leave the EU disaster period and re-engage with the world.
With luck this will set off a chain reaction and bring the whole totalitarian EU empire crashing down, freeing almost five hundred million people from the suffocating shackles of socialist tyranny allowing them to breath the free air of liberty once again.