Is this what he meant?

Over at Powerline, a link to an editorial about what happens when government "spreads the wealth around."

Monica Showalter is the South America expert on the editorial staff of Investor's Business Daily. Yesterday I wrote her asking for her thoughts the proposed expropriation of private pension funds by the government of Argentina. Tomorrow's paper will carry her editorial, which she has kindly authorized us to excerpt:

...U.S. Democrats in Congress are mulling like-minded moves to scrap 401(k)s and transfer them into government-managed "guaranteed retirement accounts" with a 3% return, according to James Pethokoukis of U.S. News & World Report (full disclosure: Pethokoukis is a former IBD reporter).

Before they charge ahead, they should look what happened since Argentina's announcement: Its stock market lost 23% of its value in two days, for a 57% loss since January. The losses spread to other markets in Brazil, South Africa, and Spain.

Et cetera.