[Kartographer]

If they could just get more of other peoples money. I expect that will soon give sell oil rights for the next 20-50 years just to try and head off the inevitable.

[Kartographer]

Preppers’ PING!!

[SIRTRIS]

Awwwww, the wonders of socialism!

[Blood of Tyrants]

“Not only is the government forcing people to get into humiliating queues... it also wants the lines to be ‘Cuban-style,’ silent and terrified,”

Fear is what socialism works on.

[fhayek]

Every time, every freakin’ time, socialism is tried, shortages like this happen. Every mother loving time. And yet, it still continues to be tried. Amazing.

[econjack]

What do you expect from an economic system that wants everything to be free. Hugo Chavez promised them that. Too bad he dead and he’ll miss the wreckage he brought upon his people.

[dfwgator]

Socialism - It’s Fantastic!

[The Duke]

I was going to ask who would buy those rights from a nation that has a history of welching on deals ... But then I remembered that blue water navy that China is building.

How do you spell “Guido” in Chinese?

[Enlightened1]

They depend on Oil and the price of Oil is falling.

The current exchange rate is 190 Bolivars for 1 U.S. Dollar.

The current rate of inflation is about 1 Bolivar a day.

The former Bus Driver that is now Dictator is on world tour to beg for money and help.

[Capt. Tom]

Venezuela, mired in a recession and with the highest inflation rate in the Americas, is suffering from chronic shortages of goods ranging from diapers to flour that have worsened this year due to an ebb in deliveries during Christmas.

From what I have read from many sources the price of a bbl of oil is going to remain down thru at least 2015.
This is a big reason Venezuela, and Russia are on the economic ropes.
This is going to be an interesting and explosive year between the actions of the Muslim Fundamentalists and the economic problems of many oil producing countries worldwide. -Tom

[JPG]

the lovely fruits of socialism---get in the damn line

[Bubba_Leroy]

Coming soon to an Obamanation near you.

[Tzimisce]

This Socialist Model will soon be playing in a nation near you. :)

[Beagle8U]

“I expect that will soon give sell oil rights for the next 20-50 years just to try and head off the inevitable.”

The already did that, they owe oil to China on the money they borrowed.

[RayChuang88]

There's a reason why China went on a capitalist economic reform starting in 1979--Deng Xiaopeng and Chinese political leaders of his generation saw firsthand the misguided Communist economic policies that caused the horrors of the Great Leap Forward between 1958 and 1963 and were determined to get away from that debacle.

This is why I think once the Castro brothers leave the political scene from Cuba, you will see Cuba turn into Western Hemisphere equivalent of China--probably within ten years! The Cubans very well know that they are sitting on a gigantic economic gold mine and they're not going squander that potential.

[catnipman]

Milton Friedman once said that, if you put the government in charge of the Sahara desert, there’ll eventually be a shortage of sand. No wonder that, after 14 years of socialist government, Venezuela — the country with the world’s largest oil reserves — is currently importing gasoline, and there are shortages of everything else.

[rawcatslyentist]

Need to add a bit more Gulag to the socialist stew.

[Usagi_yo]

Venezuela == The future of America under those like Barry Soweto.