Posted on 01/29/2016 5:48:57 PM PST by NRx
The only question now is whether Venezuela's government or economy will completely collapse first.
The key word there is "completely." Both are well into their death throes. Indeed, Venezuela's ruling party just lost congressional elections that gave the opposition a veto-proof majority, and it's hard to see that getting any better for them any time soon — or ever. Incumbents, after all, don't tend to do too well when, according to the International Monetary Fund, their economy shrinks 10 percent one year, an additional 6 percent the next, and inflation explodes to 720 percent. It's no wonder, then, that markets expect Venezuela to default on its debt in the very near future. The country is basically bankrupt.
That's not an easy thing to do when you have the largest oil reserves in the world, but Venezuela has managed it. How? Well, a combination of bad luck and worse policies. The first step was when Hugo Chávez's socialist government started spending more money on the poor, with everything from two-cent gasoline to free housing. Now, there's nothing wrong with that — in fact, it's a good idea in general — but only as long as you actually, well, have the money to spend. And by 2005 or so, Venezuela didn't.
(Excerpt) Read more at washingtonpost.com ...
That country should be a wake-up call to anyone here even thinking about trying similar policies.
Hey Bernie, I’m talkin to you!
Socialism don’t work!
What’s that Smell?
Didn't the communist thugs on the Venezuela Supreme Court take care of that 'veto proof majority' by throwing out 3 opposition legislators?
http://www.theguardian.com/world/2016/jan/13/venezuela-opposition-national-assembly-deadlock-resign
Looks like the Washington Post needs to keep up with the news.
The Bernie zombies will not make the connection....
Venezuela is the logical end result of Bernies socialist utopian ideology....
Yep...are you watching Bernie? Better yet, are Bernie’s followers watching? The answer is probably NO!
[Venezuela is on the brink of a complete economic collapse]
Substitute ‘America’ for the first word there and you have the Obama presidency summed up in one sentence. Now, in November, we’ll have to suspend elections, mind you, to deal with the economic crisis. /OK admit that’s tinfoil
Bernie’s Utopia!!!!
Caracas is the world’s murder capital.
And they have been for goodness knows how long.
The nutty professor is a parasite who is looking for a host....us
The system worked well for Hugo and his family - his daughter is now quite wealthy and I am sure the rest of his family made out like bandits.
Hope the little people enjoy what their champion did for them.
Send in “Josh Earnest”
he Bernie zombies will not make the connection....Venezuela is the logical end result of Bernies socialist utopian ideology....
Some people are watching closely for indications of that exact scenario to play out here in the USA.
And we are not wearing tinfoil ....
I know, but I always include the disclaimer for plausible deniability, LOL.
And since I’ve said this before, frankly, I’ll be surprised if we get to or have elections in November without the economic time-bomb going off.
Nevertheless, I’ll admit it’s somewhat of my particular tinfoil hat. :)
Good. Stupid is supposed to hurt.
L
Calling Jimmy Carter and Sean Penn
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