U.S. economy predicted to collapse under socialism

A U.K. official says his predictions of economic collapse are coming to pass.

The Telegraph is reporting that British Prime Minister Gordon Brown has brought the country to the brink of bankruptcy. Christopher Monckton, the Viscount Monckton of Brenchley, agrees. He says the Labor Party's continual borrowing for social programs is to blame.

"Every Labor government there has ever been from 1926 to the present day has always ended in exactly the same way because they essentially try to run a communist financial system," he contends, "and it doesn't work any better here than it worked in the Soviet Union."

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