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Venezuela

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http://www.bbc.co.uk/news/world-latin-america-36339721

It appears that Venezuela is the next country to become an economic, social and political dystopia.

Discuss.

"President Maduro declared a state of emergency for 60 days, accusing the business elite of boycotting the economy and the United States of plotting a coup against his socialist government."

Top kek. He can't even take responsibility for it. 180% inflation, people. The Venezuelans must be 'feeling the bern' now.
 
The socialist system down there has conditioned the population to be welfare recipients. The lazy poor had a good ride for a long time, but now that the price of oil has been depressed for a long time, the only way out of food shortages will be either a huge turn-around in the oil price, which I can't see OPEC facilitating any time soon, or a massive industrialisation of the country.

The Venezuelan poor may end up as sweat-shop worker-slaves, as do most citizens who have voted in socialist governments, enticed by free bread and circuses.

I expect to be buying underwear made in Greece, or Venezuela in a few years.
 
Sometimes children will molly coddle their pet rabbit to death. Literally I've heard of two accounts where a child has hugged their pet rabbit to death.

Sometimes governments molly coddle their economies to death.
 
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Blame socialism, its too generous a system that gives too much money to the poor and makes them lazy. Simple right? Well actually wrong, even if you assume "Chavezism" is any type of socialism.

What economic system that is dependent on 95% of its revenue from a single source sustain itself? What society that is so deeply corrupt is sustainable? If there was a right wing government in power would be be doing so much better? What's the history of right wing governments in that region? Are they less corrupt, any more democratic, any less indebted to the drug lords? I don't think so.

The same as Greece. Some people look at Greece and say well that's socialism it ruined the country, yet countries like Germany and Denmark are far more socialist than Greece, seem to be doing well. Why is that exactly, what’s the difference? When you have a country like Greece where people don't figure they need to pay taxes and there are weak enforcement for non-compliance, then you have a problem.

It's rare that one factor cause problems like this.
 
Gosh, it seems we are so fucked up that even Americans are paying attention to us.
 
brightmoon said:
Blame socialism, its too generous a system that gives too much money to the poor and makes them lazy. Simple right? Well actually wrong, even if you assume "Chavezism" is any type of socialism.

What economic system that is dependent on 95% of its revenue from a single source sustain itself? What society that is so deeply corrupt is sustainable? If there was a right wing government in power would be be doing so much better? What's the history of right wing governments in that region? Are they less corrupt, any more democratic, any less indebted to the drug lords? I don't think so.

The same as Greece. Some people look at Greece and say well that's socialism it ruined the country, yet countries like Germany and Denmark are far more socialist than Greece, seem to be doing well. Why is that exactly, what’s the difference? When you have a country like Greece where people don't figure they need to pay taxes and there are weak enforcement for non-compliance, then you have a problem.

It's rare that one factor cause problems like this.
Click to expand...

Actually, the Pinochet regime of Chile, turned that country's economy around (which was almost exclusively dependant on Copper exports), and it has had the highest GDP per capita in South America ever since.
 
@Falvus Aquila I hope you aren't holding up the Pinochet Regime as an overall example of good governance because that would be some sort of sick joke. If you look at economic performance the copper industry was never opened up for free market competition.

Critics argue the neoliberal economic policies of the Pinochet regime resulted in widening inequality and deepening poverty as they negatively impacted the wages, benefits and working conditions of Chile's working class. According to Chilean economist Alejandro Foxley, by the end of Pinochet's reign around 44% of Chilean families were living below the poverty line. According to The Shock Doctrine by Naomi Klein, by the late 1980s the economy had stabilized and was growing, but around 45% of the population had fallen into poverty while the wealthiest 10% saw their incomes rise by 83%. quoted from Wikipedia https://en.wikipedia.org/wiki/Augusto_Pinochet#Economic_policy


Also Argentina's GDP outstrips Chiles, at least according to the IMF https://en.wikipedia.org/wiki/List_of_South_American_countries_by_GDP_(PPP)_per_capita
 
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