Next big problem in the world...

[abaris]

A bit dramatic considering the fine display of socialism Venezuela is putting on. I'll take an imperfect system and the occasional recession over the guarantee of squalor promised by centrally controlled economies any day.

It's not dramatic, since hardly anyone would come up with Venezuela when talking about an obvious problem. Apart from the fact that the Venezuelan crisis has many reasons, not least of all low oil prices. But that's a different story.

Assuming that someone who's not content with the current system automatically strives for the opposite is a bit simplistic also. It's not the occasional recession creating the problem. It's the sense of impunity and the guarantee to be bailed out when things go downhill. On the "too big to fail" ticket, which makes for a story in itself. We all paid for the last crisis, the ones causing it didn't. Apart from Iceland, where the bankers were held responsible for their actions.

That's what Mathilda said, and it is socialising the losses and privatising the gains.