. . . is that you eventually run out of other people's money."
? Margaret Thatcher
The Government of Venezuela has just run out of other people's money.
Venezuela is Falling Apart
Excerpt:
"What our country [Venezuela] is going through is monstrously unique: It’s nothing less than the collapse of a large, wealthy, seemingly modern, seemingly democratic nation just a few hours’ flight from the United States.
In the last two years Venezuela has experienced the kind of implosion that hardly ever occurs in a middle-income country like it outside of war. Mortality rates are skyrocketing; one public service after another is collapsing; triple-digit inflation has left more than 70 percent of the population in poverty; an unmanageable crime wave keeps people locked indoors at night; shoppers have to stand in line for hours to buy food; babies die in large numbers for lack of simple, inexpensive medicines and equipment in hospitals, as do the elderly and those suffering from chronic illnesses."
And lest the reader jump to the conclusion the decline of the price of oil is the culprit, . . .
" . . . [t]he real culprit is chavismo, the ruling philosophy named for Chavez and carried forward by Maduro, and its truly breathtaking propensity for mismanagement (the government plowed state money arbitrarily into foolish investments); institutional destruction (as Chavez and then Maduro became more authoritarian and crippled the country’s democratic institutions); nonsense policy-making (like price and currency controls); and plain thievery (as corruption has proliferated among unaccountable officials and their friends and families)."
It's a good read, . . . lots of brief anecdotes showing how socialism has caused economic breakdown which led to social breakdown, . . . and now starvation and violence.
And lest the reader think it not applicable to the USA, . . .
? Margaret Thatcher
The Government of Venezuela has just run out of other people's money.
Venezuela is Falling Apart
Excerpt:
"What our country [Venezuela] is going through is monstrously unique: It’s nothing less than the collapse of a large, wealthy, seemingly modern, seemingly democratic nation just a few hours’ flight from the United States.
In the last two years Venezuela has experienced the kind of implosion that hardly ever occurs in a middle-income country like it outside of war. Mortality rates are skyrocketing; one public service after another is collapsing; triple-digit inflation has left more than 70 percent of the population in poverty; an unmanageable crime wave keeps people locked indoors at night; shoppers have to stand in line for hours to buy food; babies die in large numbers for lack of simple, inexpensive medicines and equipment in hospitals, as do the elderly and those suffering from chronic illnesses."
And lest the reader jump to the conclusion the decline of the price of oil is the culprit, . . .
" . . . [t]he real culprit is chavismo, the ruling philosophy named for Chavez and carried forward by Maduro, and its truly breathtaking propensity for mismanagement (the government plowed state money arbitrarily into foolish investments); institutional destruction (as Chavez and then Maduro became more authoritarian and crippled the country’s democratic institutions); nonsense policy-making (like price and currency controls); and plain thievery (as corruption has proliferated among unaccountable officials and their friends and families)."
It's a good read, . . . lots of brief anecdotes showing how socialism has caused economic breakdown which led to social breakdown, . . . and now starvation and violence.
And lest the reader think it not applicable to the USA, . . .
