Quote from THE BANANA REPUBLIC --- OF BELIZE

DEFINITION OF A BANANA REPUBLIC
According to Arnold King of Library Economics Liberty: "A BANANA REPUBLIC is a country where government obligations swamp total wealth. In a typical BANANA REPUBLIC , wealthy individuals race to move their savings overseas to safe havens. Those who fail to do so will suffer from taxation, inflation, and currency devaluation. In practice, when government borrows and spends, the people who receive the money know they are better than the people who are going to have to pay it back. That is why fiscal stimulus works...supposedly. Sooner or later, the profligate are going to take from the prudent, the grasshopper is going to confiscate the property of the ants."