The answer to the unanswered question in the article is a revolution that will spill a lot of blood. That’s how this story always ends. The great Socialist experiment is wearing off. Just in time for Sanders to take up the mantle with his version of benevolent socialism that’ll work this time!
What was that comment from a very smart man about doing the same thing over and over again and expecting different results?
Oh, yeah, it’s called insanity.
Sean Penn , Michael Moore and Mahmoud Ahmadinejad all no where to be found for support ?
Have these three social and economic geniuses unhooked their horses from the Venezuelan atrocity?
Fair weather friends all.
The world needs about a million barrels a day of oil cut from production. It would be hard on a country to do it all themselves but this looks likely at this point (good for everybody but venezuela). They have to get rid of Maduro to even have a hope this will someday get better, but it will get worse first
Socialism often starts out benevolent and caring; it never, ever ends up that way as coercion gives way to freedom.
“Using parallel exchange rates, and taking into account that a bank note calls for fancy security paper and costs around 4 US cents to produce, we come to the alarming conclusion that today, except for the Bs.50 and the Bs.100 bills, Venezuelan money is worth less than the paper it’s printed on.”
http://caracaschronicles.com/2016/02/04/worthless/
and… the VE currency has fallen through the 1000:1 rate in the past couple of weeks, where will it end?
Oh, we’ve seen this movie before… no need to pile on, simply don’t tolerate those that say it’s anyone’s fault but the government of the day. They print the money, they reap the consequences.
https://dolartoday.com
The Venezuelan government is now asking shopping malls to turn off their electricity for parts of the day.
Is there any greater civilizing technology than electricity? Could there be a more profound denouncement of a government than this?
electricity.
migod, what a astonishing thing really, invisible, can lift thousands of tonnes.
fits in a conductor, what, the avg diameter of a high tension 250,000 volt line?
talk about versatile. oyph. and the means of generating and even storing it.
batteries the size of a very large dot on a piece of paper that run a wrist watch for YEARS to ones that pull gigantic freight trains.
God bless all those white scientists and engineers, 100s of years ago that gave us this world we enjoy.
we get so accustomed to it, but like George Carlin said, take it away for a couple months and bye bye civil society.
only a socialist would take it away as gov’t policy.
But he makes the hearty sign with his hands, like our Prime Minither…
Venezuela produces about 2.4 mb/day most of which goes to the eastern seaboard of the US. If the economy goes to hell social unrest will follow. The civil war will undoubtedly result in a significant reduction in production. The December Daily surplus average was about 1.6 mb/d. A failed Venezuela will wipe that out but other producers hungry for hard currency will step in. For oil prices to rise into the $60 range there would need to be a significant production cut by the Saudis, the US or Canada. Most likely of these 3 would be the Saudis. They are not immune to the effects cheap crude. Their foreign currency reserves have been halved, gasoline price has doubled and they raised taxes. The Saudi kingdom is not a legitimate government. The 50k in the family rule over 27.6 million. If oil stays at these prices the natives will get restless and social unrest will come about. I believe all of OPEC regrets picking this fight.
“Bernie Sanders Maduro” has a nice ring to it.
Shamrock, as freedom gives way to coercion.
Hunger is a rather strong motivator. When Socialism cannot provide the basics for survival … it inevitably loses.
Just another “Who Cares” moment in a sea of them. The people of Venezuela voted for exactly what they are getting. They should continue to get it.
Las plantas que no pueden florecer por mosto flor días en la noche.
“Plants that cannot bloom by day must flower in the night.”
You would be right, except that Chavez murdered, disappeared, and imprisoned opposition to his demented policies.
He was a thug and despotic dictator, who deserved his cancer. Too bad Penn wasn’t dragged along, but there’s still time for justice for Spicoli
Venezuela’s production would be better, and its costs cheaper, if their thug dictator didn’t nationalize the industry.
What then happened was, the experts left. Equipment and processes remained as they were at the time of nationalization, falling behind in technology.
Wonder of wonders, production started to fall, well before the crash in oil prices.
Stupid is as stupid does.
I see a problem, and the solution to that problem. The Manurdoo government just keeps on printing money, so now the pee-ons have cheap a$$wipe, and in a country were toilet paper is at a premium, cheaper buttwipe in the form of their dollar is a good thing.