No system is immune from greed.

When Nestor Kirchner was elected president of Argentina in 2003 he was said to be worth $2.5 million. He died in 2010 since when his wife Cristina Kirchner has been President. Today she is said to be worth $17.7 million. Critics allege that this is money stolen from the state. A business friend, Mr Baez would transport the money in sacks which were weighed because there was too much money to be counted. Argentina defaulted on $100 billion foreign debt in 2001 and is offering 30 cents to the dollar to settle its accounts but some US bondholders have gone to court demanding full payment so it maybe forced to default a second time.  Politicians in India are known to multiply their wealth in very short time. They have to. Poor fellows do not know if they will be dumped in the next elections. Brazil's economy contracted by 0.6% in the second quarter, from April-June, having contracted by 0.2% in the first, which means Brazil is in recession. Interest rate in Brazil is at 11% in an effort to control inflation. A mix of corruption and socialism has wrecked the economies of both the countries, much as the Congress did to India. In France, Francois Hollande became President by promising socialism. He has increased the top rate of income tax to 75%, prompting the wealthy to flee, which would hurt tax collection. Unemployment is up to 11%, house prices have fallen by 2% and 57% of public spending is on welfare payments, which are so generous that many people find it more lucrative not to work. The rural wage inflation in India due to the NREGA scheme is similar. Across the Channel Britain is growing by 3% but much of that growth is based on a phenomenal rise in property prices so that a shoebox in London can cost 4000 pounds, Rs 400,000, per month to rent. Just as the Congress forced the RBI to keep interest rates low, punishing savers, so a British MP has warned that if the interest rate is raised from the current 0.5% it will be a catastrophe for borrowers. Surely if socialism and welfare are bad for the economy a capitalist country like the US should be the ideal. But even here one-third of the population needs some help from the government. To reduce their tax bills some companies are ' merging ' with foreign firms in a low tax country and transferring their headquarters to that country, as Burger King has done recently. This process is known as ' inversion ' and Obama has called in unpatriotic. At least this is visible. Seems that multinationals and wealthy people show more liabilities than assets because of blatant tax evasion. Capitalism creates wealth while socialism destroys it but greed destroys both.