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Dec 30 2017

Venezuela’s Problem Is Confirmed to Be Socialism, Not Low Oil Prices

Socialism would have worked fine in Venezuela, except for the fall in oil prices, right moonbats? Or maybe not, as even the New York Times admits:

A general with no energy experience has been installed as the head of the state oil company. Arrests, firings and desperate emigration have gutted top talent. Oil facilities are crumbling, while production is plummeting.

As the rest of the oil-producing world recovers on the back of stronger energy prices, Venezuela is getting worse, the result of dysfunctional management, rampant corruption and the country’s crippling economic crisis. The deepening troubles at the state oil company, the country’s economic mainstay, threaten to further destabilize a nation and government facing a dire recession, soaring inflation and unbridled crime, as well as food and medicine shortages.

Due to higher prices, things are looking up for other oil-exporting countries, including even dysfunctional hellholes like Libya and Iraq…

Not Venezuela, the country with the largest proven reserves in the world. The state-owned oil company, Petróleos de Venezuela, known as Pdvsa, teeters on the brink of collapse, its failures at once a symptom and a cause of the nation’s downward economic spiral.

Despite Maduro barking the standard socialist dictator rhetoric about the evils of capitalist America, Venezuela has been importing gasoline and diesel from the USA to meet domestic needs. But that won’t go on for long, since they can’t pay for it with the whole country about to go into default.

Socialism is socialism, no matter where tyrants and fools inflict it. This sums up the spirit of the Soviet Union:

Employees have lost all interest, said Emilio, a worker in the Cardón refinery who asked that his last name be withheld because he feared punishment by the authorities for criticizing the company. He said they were simply punching the clock.

Workers spend their days playing cars and dominoes, production having slowed to a crawl.

Milton Friedman’s wise words ring ever truer:

If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. - Milton Friedman

Under Chavez/Maduro, Venezuelans effectively put the federal government in charge of everything. Now they have nothing — not even oil, despite floating on a sea of it. No one even vaguely familiar with the past 100 years of world history could have expected a different outcome.

But maybe Bernie Sanders, with his keen grasp of economics, will be the first to make socialism work.

On a tip from Bodhisattva.

20 Responses to “Venezuela’s Problem Is Confirmed to Be Socialism, Not Low Oil Prices”

  1. ICEvictim says:

    infantile “adults” are always attracted to socialism because it promises to give them whatever they want without having to produce any real effort to get it – the mommy and daddy effect.

  2. NotKennedy says:

    Let Haliburton take over Venezuela’s oil franchise and they’d have it up and running in a month, at a profit. Hell, that’s what the defaulted creditors ought to compel Maduro into doing to try and recover their losses.

  3. NotKennedy says:

    That’s why worthless college degrees have become so prolific.

  4. Frank says:

    Socialism, i.e., shared poverty, is attractive to those who think they’ll benefit from transfer payments.

  5. Frank says:

    Bernie fanatics are convinced he’ll defecate a magic money tree seed to plant in the Thankfully-white-again House rose garden!

  6. MAS says:

    Good luck getting someone to volunteer going there to do so. South American regimes tend to jail and murder even those who could help them out.

  7. Frank says:

    More elegant than a lot of his ideas!

  8. Jester says:

    The thing that the average reader of this article doesn’t understand is the the New York Times writers love this. They’re actually presenting it as a good thing. They’re cheering it on. They’re rooting for it to happen here as soon as possible.

  9. Frank says:

    The most dangerous words about investing and communism: THIS TIME WILL BE DIFFERENT!

  10. Kevin R. says:

    “We pretend to work and they pretend to pay us.”

  11. Kevin R. says:

    The socialist dream is basically to win the lottery and never have to worry about money ever again.

    If everyone wins the lottery…

  12. NotKennedy says:

    There was a beautiful scene in Scarface that involved a helicopter and a rope. Maduro should audition for that role.

  13. Frank says:

    Hmmm… A commie “news”paper in a city ruled by a commie mayor in a commie run state… Who’d expect such a coincidence?

  14. Frank says:

    I’ll buy the rope out of altruism for all the poor bastards starving in Venezuela!

  15. Artfuldgr says:

    This would show a key difference between the Nazis and the Soviets… and similarity we have forgotten… each tried to do socialism their own way… soviets jumping to communism (for as engels is quoted as saying “i am a communist”), and germans trying a marraige of capitalism and communism, called fascism…

    the key here was that the soviets thinking/wanting all to be equal and interchangable parts without like leggos, took out the leaders of factories and things and arbirarily replaced them, as venezuela did… (understand what you see and you can tell what dialect of marxist thinking they belong to or mutt version).

    the germans, who followed engels magyar struggle, tried to fulfill his predictions (with their soviet friends), and regain the lands that were first settled by germans (to get more room) – we call this multiculturalism, hitler called this basically rebuilding the riech and getting back lands that were taken (the same idea here is palisting gettinb back isreal, indians getting back us land, mexicans, who forget they were whipped out and mostly from spain thinking or being told to think similar as to americas north of their borders… you know, texas and cali).

    the germans kept factory leaders and so had good production, the soviets changed them like venezuela and so only military and certain things worked well, everything else stunk… even old loved companies that made things everyone liked were only surface appearances of their former self. soda tasted bad, but looked the same..

    history repeating, but most dont know it..

    at least not to this degree as the children of refugees, and so on remember what everyone else never learned.

  16. NotKennedy says:

    I always believed that you are altruist! The Lord helps those who help themselves. Yet, sometimes the slackers need a helping a hand. On the plus side, the rope is almost certainly recyclable. There could be a trend developing, once it gets started.
    Happy New Year, Frank

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