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Venezuela - Basket Case of S.America.

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Venezuela - Basket Case of S.America.

Old 26th May 2016, 21:43
  #41 (permalink)  
 
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Klepto-Socialism is all about stealing Other People's Money until they run out. Regular socialism just is smart enough to steal enough but not too much--it is all the same--official thievery.

GF
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Old 27th May 2016, 05:09
  #42 (permalink)  
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Socialism might be a functional type of government, perhaps even successful given wise leadership and good management abilities by those in power.


However, in these examples pertinent education and economic experience is severely lacking.


"Hugo Chavez. Born into a working-class family in Sabaneta, Barinas, Chávez became a career military officer."


"Nicolas Maduro. A former bus driver, Maduro rose to become a trade union leader, before being elected to the National Assembly in 2000."


"Fidel Castro. Born in Birán as the son of a wealthy farmer, Castro adopted leftist anti-imperialist politics while studying law at the University of Havana".


"Vladimir Lenin. Born to a wealthy middle-class family in Simbirsk, Lenin became interested in revolutionary socialist politics following his brother's execution in 1887. Expelled from Kazan Imperial University for participating in protests against the Russian Empire's Tsarist regime, he devoted the following years to a law degree."


"Joseph Stalin. Born into a dysfunctional family in a poor village in Georgia he studied to be a priest but never completed his education."


Venezuela is heading towards total ruin like a runaway train. It is so close to the point where only a revolution against the revolution or a military takeover will change things. The military will NOT make things better, they do not know how to run a country - any country - either.
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Old 27th May 2016, 10:00
  #43 (permalink)  
 
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You forgot Mao, who studied Confucianism with the object of passing the Imperial Civil Service Examination and eventually becoming a Mandarin.
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Old 27th May 2016, 17:26
  #44 (permalink)  
 
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One thing that these socialists had in common was that they were all despots. Socialism was mostly a means to an end: personal power. The greatest danger of any socialist government is that the government must have great power to make it work. If the leader controlling that power has the best interests of the nation at heart, it can be made to work for quite some time. But it is inevitable that a leader will come along and decide they want to control all that power.........permanently.
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Old 27th May 2016, 19:43
  #45 (permalink)  
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Socialism and self-delusion - CapX
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Old 29th May 2016, 07:18
  #46 (permalink)  
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"The German airline, Lufthansa, has announced that it will suspend flights to Venezuela from 18 June due to economic difficulties in the country.

The company also said currency controls in Venezuela made it impossible for airlines to convert their earnings into dollars and send the money abroad.


In a statement, Lufthansa said that it "will be forced to suspend our service between Caracas and Frankfurt as of 18 June".


It noted that the demand for international flights to Venezuela had dropped in 2015 and in the first quarter of the current year." bbc
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Old 29th May 2016, 08:16
  #47 (permalink)  
 
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Lufthansa to suspend flights to Venezuela - BBC News

The BBC puts the cause of the countries woes down to the fall in the price of oil. Nothing to do with Socialism, of course.
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Old 29th May 2016, 09:22
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The greatest danger of any socialist government is that the government must have great power to make it work. If the leader controlling that power has the best interests of the nation at heart, it can be made to work for quite some time.
The problem is that the state doesn't only need a dangerous amount of power, it also needs an impossible amount of detailed information as to what production is required. Even the soviet union resorted to pseudo market prices to try and figure out what the market mechanism would tell them if they had one.
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Old 17th Dec 2016, 17:00
  #49 (permalink)  
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"Venezuela's highest denomination banknote has ceased to be legal tender, in a move that has caused cash chaos and long queues at banks.
Protests against the move led to looting in parts of the country, with shops attacked and roads blocked.
Some cash machines on Thursday were still issuing the old 100-bolivar notes, hours before they expired.
President Nicolas Maduro said new higher-denomination bills would be fully distributed in January.
He has closed the borders with Brazil and Colombia until Sunday to stop "mafias" hoarding the currency abroad.
Some people on Thursday still received the 100-bolivar notes when they withdrew money at ATMs, then immediately had to queue up again to re-deposit the soon-to-expire notes.
"I don't get the joke," office worker Yarelis Carrero, who lives in the capital Caracas, told the AFP news agency. "When you withdraw cash at the ATMs, they give you 100-bolivar bills. And you can't get the new ones inside the bank, either."" bbc
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Old 17th Dec 2016, 17:20
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I suppose that resolves the toilet paper shortage.
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Old 17th Dec 2016, 19:21
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Oil wealth distribution ....

.... but not in a socialist country.
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Old 17th Dec 2016, 19:25
  #52 (permalink)  
 
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You better get off the computer John and head for high ground, tsunami alert for your neck of the woods just issued.
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Old 17th Dec 2016, 19:39
  #53 (permalink)  
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Venezuela's highest denomination banknote has ceased to be legal tender....
Venezuela fact of the day not what Kimball and Rogoff had in mind - Marginal REVOLUTION

Here is the fact:

Mr Maduro said on Sunday that the 100-bolivar note, worth about 2 US cents (Ł0.015) on the black market, would be taken out of circulation on Wednesday......
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Old 18th Dec 2016, 03:20
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Oil wealth distribution ....
Can't be all bad John, they got satellite TV.
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Old 18th Dec 2016, 10:57
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They have something in common with the benefits brigade in the UK.
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Old 18th Dec 2016, 11:13
  #56 (permalink)  
 
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via KenV:
One thing that these socialists had in common was that they were all despots. Socialism was mostly a means to an end: personal power...
Yep, that'd be where that illery clinton were bound if she'd got elected..
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Old 18th Dec 2016, 12:52
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***holes like Ken Livingstone and Corbyn worshiped the useless criminal Chavez. They lectured us all on how wonderful a socialist paradise Venezuela was and Livingstone even tried to set up some kind of link between Venezuela and London when he was mayor.
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Old 18th Dec 2016, 16:16
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Venezuela fishermen;
https://warisboring.com/economic-cri...ff2#.q7mjoqfgz
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Old 9th Jan 2017, 02:22
  #59 (permalink)  
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Venezuela's government has announced a 50% increase in the minimum wage and pensions amid runaway inflation.
President Nicolas Maduro says the move will protect jobs and incomes. Critics say it may worsen the crisis
bbc


No worries, the government is going to print more money to cover it.


This is what you get with failed socialism and a bus driver in charge. Current inflation rate >1600%.
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Old 29th Jul 2017, 06:08
  #60 (permalink)  
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Some airlines have stopped service to Caracas. Avianca is avoiding Venezuealan airspace altogether. Several bodies have predicted the first state failure of a major oil producing sovereign state. Protests in the streets continue in the run-up to the election this Sunday that many predict has been fixed and is structured to re-vamp the constitution and turn it into a defacto dictatorship with Maduro in for life. In one of his latest speeches he declared - "What we cannot accomplish with votes, we will accomplish with bullets". SUNDAY should be interesting.
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