gommunism

They tried so hard and got so far

>>58752130
chavism

We have this thread everyday.

Unhealthy reactions to post-colonial social structures that pushed the economy too far

>>58752130
>largest oil reserves in the world
>literally in the middle of an energy crisis
CANT MAKE THIS SHIT UP

Socialism.

Give socialists the Sahara and in 5 years where will be a shortage of sand.

>>58752130
>How did they manage to fall so far?

>Implying Venezuela was ever good.

When Chavez came to power they had hyper inflation, thousands dead from authoritarian crackdown on protests and like half the country lived in severe poverty.

There are multiple reasons why Venezuela has gone to shit:

1: Extremely corrupt officials

2: Bureaucracy based entirely on nepotism instead of ability

3: Government paralyzed by corruption and a bureaucracy that simply doesn't function.

4: Artificial collapse of oil prices to starve out Venezuela, Iran and Russia.

5: El Nino.

6: Outside sabotage from the United States, Colombia etc. (This is not a conspiracy theory, Wikileaks has the documents, just look up McRevolution)

7: https://en.wikipedia.org/wiki/Resource_curse, https://en.wikipedia.org/wiki/Rentier_state

8: Bad populist policies while claiming you are Socialist when you're not and relying on Capitalists for all production, yet doing everything in your power to chase them away.

Welcome to incompetent populist strongman politics of the developing world. Venezuela is just another developing country in a long line of populist shitheads from both the left and right.

>>58752479
And to expand on

>Bad populist policies while claiming you are Socialist when you're not and relying on Capitalists for all production, yet doing everything in your power to chase them away.

The single worst policy Venezuela has implemented was price controls on currency.

In Venezuela, the currency must be exchanged for USD at a price decreed by the government. This isn't a fixed exchange rate in the traditional sense (where the central bank builds up "reserves" and then sells them at a fixed price) - Venezuela has attempted to do the same purely through decree. The problem with this, is that they overvalue the currency so much that you can't actually trade at the official rate. Nobody (or few) will sell you USD for the price the government says they must.

Markets are all incredibly interconnected, we all depend on foreign trade for prosperity - but even operating a business in Venezuela you're shut out from all of this. Only well connected individuals can buy USD from the government at the official rate, otherwise you're stuck applying for "allowances" through application processes that take who-knows-how-long. This means the only way to actually import en-masse in Venezuela is by breaking the law. Using black market currency traders. Can you imagine running a business like that?

also

>El Nino.

Venezuela has been hit by the worst drought in 47 years. With the drought 3 years running, their dams are now on the brink of empty. For a country that depends on hydro for 73% of their power generation, that's a huge problem.

So what do they do? Well, reduce the number of workdays. Send people home from public sector jobs. Roll blackouts. All things further constricting aggregate supply, further making it harder/impossible to run a business.

>>58752130
Its all your fault cause you gave Chavez cancer.

>>58752668
>>58752479
Also as a Socialist, I can't wait for the inevitable class war in Venezuela. I seriously hope the working class kills the Porkie populist PSUV, then turns on the Koch porkies.

When will they go to war with Guyana over their border dispute? I can't wait for the Guyanese Pajeets to shit all over Venezuela.

>>58752776
There is a symbiotic relationship between the PSUV and Military, the PSUV pay off the military with high positions on boards and shit of the resource companies, in return, the military protects the Government.

I doubt the PSUV would do anything to risk stability at the moment or losing side with the military.