Cristina Kirchner's Argentina is a socialist-lite South American dictatorship-in-the-making - a country increasingly modeled after Hugo Chavez's full-fledged socialist dictatorship in Venezuela. As a soft-socialist, Kirchner has nationalized sparingly - relying instead upon onerous regulation and government interference in the private sector in order to ensure "social democracy." As of late, however, her ambitions have been less subtle.

Facing intense criticism over the nationalization of its biggest oil firm, Argentina on Thursday ordered the seizure of YPF Gas, another group controlled by Spain's Repsol, a move expected to further inflame tensions.

When criticized for expropriating an oil firm, respond by seizing a gas firm. That'll teach 'em.

The move postures Argentina in direct conflict with Spain, the U.S., the EU and the IMF. But such is par for the course for socialist regimes - when the going gets tough, take what belongs to someone else. As Margaret Thatcher was fond of saying, "The problem with socialism is that eventually you run out of other people's money." Others would do well to stop placing their money within Ms. Kirchner's reach.

In fact, that same principle may apply to those in America who have a penchant for spending other people's money.