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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 445.60-10.1%Jan 30 4:00 PM EST
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To: TobagoJack who wrote (61797)3/10/2010 2:10:32 AM
From: elmatador2 Recommendations  Read Replies (2) of 219951
 
Welfare state is for a stage the country is poor. To avoid socialism the oligarchs put in place welfare state.

But once the country gets rich the welfare state is not dismantled.

It reaches a point that the economy can no longer sustain the welfare state. They borrow to pay for it and go bankrupt.

Greece and the welfare state in ruins
washingtonpost.com
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