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Venezuela is in a state of complete crisis. The country has been forced to face the horrors of hyperinflation, food shortages, and devastating depression. In spite of having the world’s largest oil reserves, the country has had to resort to rationing electricity. A horrifying article by theNew York Times depicts the state of Venezuelan hospitals, with children dying by the day due to a lack of medicine and basic supplies.
Venezuela’s economic catastrophe is getting worse by the day. The energy shortage has created rolling blackouts; government has shortened workweeks to two days, and the level of hunger that has arisen from the country’s inability to provide has led to looting and now locals are hunting dogs, cats, and birds for food. In all, 21st century socialism has evolved into a total nightmare. Venezuela is literally at a point where the country is so broke it can’t print its own currency. Government food dispensaries are being ransacked. At a wholesale market in Maracay, 5,000 people stormed the establishment, marking a week of looting that left two people dead and millions of dollars worth of damage (via PanAm Post):
It is a common misconception that socialism is about helping poor people. Actually, what socialism does is create poor people, and keep them poor. And that’s not by accident. Under capitalism, rich people become powerful. But under socialism, powerful people become rich. So when you look at a socialist country like Venezuela, you find that the rulers are fabulously wealthy even as the ordinary citizenry deals with empty supermarket shelves and electricity rationing. The daughter of Venezuela’s socialist ruler, Hugo Chavez, is the richest individual in Venezuela, worth billions and billions of dollars. In Cuba, Fidel Castro reportedly has lived — pretty much literally — like a king, even as his subjects dwelt in poverty. In the old Union of Soviet Socialist Republics, as Hedrick Smith rep...
Venezuelan President Nicolas Maduro announced a sweeping crackdown Saturday under a new emergency decree, ordering the seizure of paralyzed factories, the arrest of their owners and military exercises to counter alleged foreign threats. The embattled leftist is struggling to contain a raging economic crisis that has led to food shortages, soaring prices, riots, looting and vigilante justice, pushing Venezuela to the brink of collapse. He accused the United States on Friday of destabilizing the country at the behest of the “fascist Venezuelan right,” prompting him to declare a state of emergency.
Venezuela’s capital, Caracas, could be about to go dark. The problem is Caracas’ power source. According to Bloomberg, the Guri Dam, a hydroelectric power plant, has seen its water levels dip precipitously low. An engineer who managed the plant in the 1980s said there could be rolling blackouts in Caracas by late April. “At the current rhythm, the minimum level to operate the eight turbines could be reached by April 30,” the retired engineer,Cesar Cardozo, told Bloomberg. “That date could be extended into May if more severe rationing is implemented.”
In 1990 I went to a Cato Institute conference in what was then still the Soviet Union. We were told to bring our own toilet paper, which was in fact useful advice. Now, after only 16 years of Chavista rule, Venezuela has demonstrated that “Socialism of the 21st Century” is pretty much like socialism in the 20th century. Fusion reports: Venezuela’s product shortages have become so severe that some hotels in that country are asking guests to bring their own toilet paper and soap, a local tourism industry spokesman said on Wednesday….
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