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Old 6th November 2017, 11:35 AM   #315
Penultimate Amazing
Join Date: Feb 2004
Posts: 15,495
Originally Posted by Sherkeu View Post
Agree, that particular description is exaggerated but the basics were all in that short article.
I know next to nothing about Venezuela, but based on what I can find on Wikipedia, it seems as if people there have been struggling with insufficient living conditions for the past 50 years, so I see no reason to ignore the economy of the country prior to Hugo Chavez’s presidency: Economy of Venezuela 1960s to 1990s

Venezuela’s position at the Misery Index of 2016 is deplorable and seems to be due mainly to the drastic drop in oil prices:
History of Venezuela’s inflation inflation compared to oil revenue

A slightly more balanced view of the crisis in Venezuela can be found at the BBC: Venezuela crisis: What is behind the turmoil?

What I absolutely hate about US reports about Venezuela is stuff like this:
With oil prices low and the government's cash dwindling, price controls have become a huge problem. The state still subsidizes food far below normal prices to appease the poor.
The Venezuelan state is trying to make sure that poor people will still be able to eat, and the media in the USA worry about this offense against the laws of capitalism! 'This is how devastating your attempts at bribing the poor with bread is to a proper market economy!'
"Stupidity renders itself invisible by assuming very large proportions. Completely unreasonable claims are irrefutable. Ni-en-leh pointed out that a philosopher might get into trouble by claiming that two times two makes five, but he does not risk much by claiming that two times two makes shoe polish." B. Brecht
"The abolition of religion as the illusory happiness of the people is required for their real happiness. The demand to give up the illusion about its condition is the demand to give up a condition which needs illusions." K. Marx

Last edited by dann; 6th November 2017 at 11:37 AM.
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