Posted on 11/15/2025 12:40:05 PM PST by BeauBo
Rodrigo Paz, the centrist senator who won the presidential election in Bolivia last month, was sworn in this weekend and immediately set to work to undo the policies of 20 years of nearly-uninterrupted socialist rule...
...Under the socialist rule of Evo Morales, Bolivia saw its energy industry nationalized and generous fuel subsidies paid out for years. These policies resulted in plunging natural gas production, dwindling foreign exchange reserves, a massive economic crisis, and fuel shortages as cheaper fuel in Bolivia encouraged smuggling en masse to neighboring South American countries.
The universal fuel subsidy has depleted Bolivia’s U.S. dollar reserves, thus diminishing the country’s ability to import fuels.
This vicious circle created fuel shortages and a deep economic crisis... Newly sworn-in President Paz faces the difficult task of repairing public finances, lifting the country out of the crisis, and ending the universal subsidy that hasn’t benefited the economy or households.
(Excerpt) Read more at oilprice.com ...
Good luck to the new Bolivian President, cleaning up that socialist disaster.
Gov’t command and control - never has and never will work.
The Free Market Economy DOES work as described in Adam Smith’s “Wealth of Nations” and as seen in 19th century America.
Doesn’t matter - the Leftist liars, the gullible, the faithless and the greedy gov’t march on the Road to Serfdom regardless.
The Thatcher rule was once again proven to be correct.
Socialism is the opiate for the “ignorant” masses.
It packages theft as virtue, it doesn’t punish sloth and ignorance, rather rewards them.
It doesn’t innovate nor is proactive in nature, slow to react and tends to get demand wrong.
It makes everyone equally poor, except of course the top 1% or even less that are still millionaires or even billionaires in such a system.
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