There are only two places where socialism will work - in heaven, where it is not needed, and in hell, where it is already in practice.
And joining Sir Winston is Instapundit who today drolly observes:
Will 2010 be the year of bankrupt governments. The trouble with socialism is, sooner or later you run out of other people’s money.
Do follow the link in Instapundit's quote. It is to a good article by Ralph Peters on several of the more shaky governments standing on the economic precipice.