Socialism is collapsing in Europe but we should definitely be trying it here in America!

A specter is haunting Europe — the specter of Socialism’s slow collapse.

Even in the midst of one of the greatest challenges to capitalism in 75 years, involving a breakdown of the financial system due to “irrational exuberance,” greed and the weakness of regulatory systems, European Socialist parties and their left-wing cousins have not found a compelling response, let alone taken advantage of the right’s failures.

German voters clobbered the Social Democratic Party on Sunday, giving it only 23 percent of the vote, its worst performance since World War II.

Voters also punished left-leaning candidates in the summer’s European Parliament elections and trounced French Socialists in 2007. Where the left holds power, as in Spain and Britain, it is under attack. Where it is out, as in France, Italy and now Germany, it is divided and listless.

Socialism just doesn't work.

Also, viewing the current financial difficulties as a "challenge to capitalism" is moronic and displays a fundamental misunderstanding of the benefits of capitalism and the costs of burdensome regulation and government meddling. Capitalism promises efficient allocation of resources over time, not an endless trouble-free creation of wealth. Bumps in the road are par for the course, not a challenge to the capitalistic model.

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