Margaret Thatcher Quote - Liberty Quotes Blog

"Socialist governments traditionally do make a financial mess. They always run out of other people's money."

by:	Margaret Thatcher (1925-2013) British Prime Minister (1979–1990)
Source:	1976 Feb 5, TV Interview for Thames TV�'This Week' http://www.margaretthatcher.org/speeches/displaydocument.asp?docid=102953
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Categories:	Socialism, Government, Economics, Money, British, Economics
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Reader comments about this quote:

Very accurate; we hold this truth to be self evident. Any time the law(s) of nature and of nature's God are violated (such as by Keynesian Economics) fiscal / economic ruin follows. -- Mike, Norwalk 4
Most of men's troubles are due to rejecting present reality in exchange for 'a promise' of a better future. MANY are easily conned out of their own power by believing in someone else's promises. They will give up the power of their own lives in exchange for a 'lord' who will protect them and provide for them. A place in the royal court is desired. Socialism and monarchy/dictatorship are essentially the same. The rulers control/tax all the property, labor and production, with armies of employees regulating and protecting the various rackets of the 'crown.' Today, the world is run in a similar fashion, with the world's central banks and the UN as the monarchy and aristocracy in order to fix the problem of running out of other people's money -- just print up more! The truth is that with a currency that you can just print up, taxes are only necessary to keep the monarchy in riches and the poor in their proper station. The world's currencies are but promises to pay -- IOU's. The entire money supply of the world is an IOU that can never and will never be repaid. The fix has been in for 100 years. It is the tool for enslaving nations. The socialist/communist take-over of the world absolutely requires this debt-money system, and the progress has been prolific. Will the nations of the world extricate themselves from this mess? Only if they know how it works so that they do not do it again... -- E Archer, NYC 3
A match made in heaven Thatcher and Regan. Though a tough and formidable lady made some really dumb decisions. One that nearly put paid to her positon was a household head tax (Poll Tax) - she quickly rescinded that one. They may run out of other peoples money but at least they don't give to the already rich who never let it trickle down. Here are some of the reason Thatcher was hated: She supported the retention of Capital Punishment She destroyed Britain’s manufacturing industry and her policies led to mass unemployment She presided over interest rates of 15% She voted against the relaxation of divorce laws She abolished free milk for School Children She precipitated a Social Housing crisis still being felt today The Poll Tax She sowed the seeds of NHS Privatisation Section 28 – Thatchers quiet homophobia? The Irish Hunger Strikes -- Robert, Somewhere in the US 3
-- Robert, Somewhere in the US
Well said Robert. Thatcher slavishly followed monetarist ideology and policy that changed the UK from a mixed capitalist economy to monetarist "all eggs in one basket" economy - manufacturing in the UK now accounts for about 10% of GDP. In the process she destroyed communities and wiped out major industries. Through mass privatisation and deregulation she created division and greater inequality. She is also credited with the dumbing down of political debate in the UK indicated by this (no doubt) scripted sound bite. She and her policies are greatly despised by many in the UK. -- Mick, Manchester 2
Mick and Robert (both liberal Brits) have merely proved Thatcher's point!! (Neither of whom are in the manufacturing business, I'm willing to bet.) They are merely complaining about not enough socialism. Those high interest rates are the banks culling the herd, just as designed -- one of the pillars of communism. Sheesh, do you ever get tired speaking out of both sides of your mouth? -- E Archer, NYC 3 1
Robert, there is no "free milk for children". Someone has to pay and, naturally, it's the taxpayers. -- jim k, austin 1
No Mr Archer, the complaint is about the fact that Thatcher dismantled redistributive wealth mechanisms, destroyed jobs, lives and communities and turned the UK into a divided country dependent on a monetarist rather than a mixed capitalist economy. The last redistributive mechanisms - the NHS and the Welfare State are now teetering because of years of tory underfunding and mismanagement. She and her policies were a disaster for the UK. -- Mick, Manchester 1 3
Once again, Mick, you are proving Thatcher's point. The "redistributive wealth mechanisms" ran out of other people's money. "The NHS and Welfare state are teetering" because they ran out of other people's money. How did you think Thatcher could pay for these programs once they have run out of other people's money? More money from other people? "Thatcher was a disaster for the UK" Welfare State -- good! That was the intention. If you want manufacturing to come back, you will have to lower the labor costs -- which are artifically propped up by socialist mechanisms -- therefore you cannot produce and must import goods manufactured with cheap labor. There is only so much redistribution you can do -- you need more production in order to redistribute more. When there are more regulators than producers, eventually the group will starve, no matter how much redistribution you can enforce. This is the reason central banks were created -- so that the regulators can just print up the money when they cannot extract anymore from the populace. It of course devalues all the money the people already possess, but every bureaucrat and soldier still gets paid. Little by little the economy collapses, and the banks foreclose and seize the country's capital, then rent it back to those that lost it. This is socialism! -- E Archer, NYC 3 1
Archer, I believe you are the one which speaks out of both sides of your mouth - the remark alone proves it! -- Robert, Somewhere in the US 2
How so, Robert? I have at least tried to explain my argument, you have merely made an ad hominem remark. (Lazy) -- E Archer, NYC 2
-- Ronw13, ID
The Margaret Thatcher effect is similar to the Norman Lear effect as we hear so much lately in his unfortunate passing, not trying to be unrespectful of course, but we are forced to live with the real world effect. Socialism is the challenge of social abilities to create. -- Fredrick William Sillik, Anytown

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