We’ve raised the concept of democracy to something venerated above near all else – which is a problem when we consider the problems of somewhere like Venezuela. The country’s in dire state, obviously enough. 10% of the population have fled, the health care system has failed and the old contagious diseases are making their return, outside the oil business there is no real economy left to speak of. The why of this is obvious enough, it’s that old problem with the application of idiot socialism.…See More
Up until now – pace Ken Livingstone – any sanctions upon Venezuela have been, at the economy level, entirely trivial. They’ve been about trying to make sure the leading kleptomaniacs at the top don’t get to enjoy their ill-gotten wealth, no more. This is now changing as the new American sanctions become clearer.
For it isn’t just that US citizens and organisations should not buy Venezuelan oil without putting the payment into escrow. It’s that anyone using the American payments and banking system should do so.…See More
We’ve all spent the best part of a decade wondering at the economic lunacy enacted in Venezuela. It’s so bad that inflation is expected to be 1 million (yes, that’s 1,000,000 %) percent this year. The minimum wage is also the median wage and that appears to be worth $4 a month or summat. It’s really an incredible piece of wrecking in a country with the world’s largest oil reserves. One of the things which has brought it to this pretty pass is the government’s habit of handing out the petrol, the gasoline, for free.…See More
The latest reports from oil-rich Venezuela have their official rate of inflation approaching 10,000%.
People are struggling to survive, capital controls are in place, people who can flee the country are doing so – serious violent crime is escalating in volume and severity.
The leader and his lackeys have rewritten the Constitution and he now wields dictatorial powers.
Starving people are eating zoo animals, if some of the more extreme reports are to be believed.
However, the Left claims that this isn’t REAL socialism.…See More
It’s remarkable how attempts to build socialism seem to end up in an empty country, isn’t it? It’s almost as if the system is one that actual humans don’t like very much. Which couldn’t be possible in the slightest now, could it, given that the system is by and of the people for the people.
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More than half of young Venezuelans want to move abroad permanently, after food shortages, violence and a political crisis escalated to new extremes in 2017, according to a new survey.