Poverty Shoots Up in Venezuela

Foreign Policy ^ | June 4, 2014 | Juan Nagel

[C19fan]

When the Venezuelan government defends itself from its critics, it usually points to declining poverty rates as proof of its success. For a while, this worked; poverty figures indeed improved during a portion of the chavista years. But the days when poverty was a winning issue for chavismo are over. Official statistics now show that poverty is rising rapidly. Venezuela's official statistics office (INE) mostly spends its time producing reports charged with political language -- but it still manages to report actual data once in a while. A few weeks ago, the statisticians published proof that one in three Venezuelans are poor, when twelve months ago the figure stood at one in four. Since an important part of the argument against the opposition is the government's claim that they, and only they, ensure decreasing poverty, this is a significant development.

[C19fan]

Looks like Venezuela has run out of Other People's Money. Typical Latin American Leftist economics. The policies are like drugs you get a momentary high boosted by high commodity prices then it comes crashing down and you need to enter rehab. The problem with places like Venezueala, Brazil, and Argentina is they go right back on economic drugs once the rehab has worked.

[Rusty0604]

But the difference is now everyone becomes EQUALLY poor, which is only FAIR./sarc

[KarlInOhio]

Official statistics now show that poverty is rising rapidly. Venezuela's official statistics office (INE) mostly spends its time producing reports charged with political language -- but it still manages to report actual data once in a while.

Time to shoot the statisticians.

[Paine in the Neck]

per my tagline - Socialism consumes Everything.

How many times does it have to be proven?

[SpaceBar]

You could produce a proper regression analysis of socialism versus poverty, and stick in the face of a socialist, and they’d scoff that it’s meaningless. Socialism just hasn’t been “done right” yet.

[reg45]

It's the fault of the United States for not being Socialist enough! </sarcasm>

[Red Badger]

I'm shocked.

[reg45]

Socialism fails as soon as more than one person is involved.

[Red Badger]

THAT’S BECAUSE IT’S ALWAYS DONE LEFT.................

[Little Ray]

Well, as long as everyone is equal in poverty an misery, that is “mission accomplished” for Socialism.

[Buckeye McFrog]

Guess they couldn’t have looked at the history of Peronism in Argentina and figured that out?

[Vaquero]

Are they eating oil ?

[Rusty0604]

After they nationalized the oil companies, they put in political cronies to run them. Problem is, they didn’t know how to run oil companies so now Venezuela doesn’t produce as much oil.

[Vaquero]

Maybe Joe Kennedy can use some the families Billions to help those poor Venezuelans.

[I want the USA back]

Socialism and communism make the ordinary people poor, and the ruling elite rich. So what were socialism and communism supposed to fix?

[Moonman62]

Where is Jeff Spicoli when you really need him?

[Moonman62]

But the difference is now everyone becomes EQUALLY poor, which is only FAIR./sarc

Everybody except those in the ruling class.

[piasa]

familiar

[GeronL]

Of course poverty has increased dramatically. What do you think is going to happen when a socialist government tries to outlaw anyone being better off?

[GeronL]

Russia isn’t the only country to watch when oil prices fall...

Venezuela used to be one of the biggest oil producing countries before nationalization. Then the state-owned oil company has been used to employ Chavez thugs, around 25,000 cronies getting checks for no work.

Oil production has fallen as the incompetent government fails to buy spare parts and crap. They will soon be importing oil.

A country run by crazy people.