Venezuela on the brink of collapse

[Islandman]

The country is basically bankrupt.

That's not an easy thing to do when you have the largest oil reserves in the world, but Venezuela has managed it. How? Well, a combination of bad luck and worse policies. The first step was when Hugo Chávez's socialist government started spending more money on the poor, with everything from two-cent gasoline to free housing. Now, there's nothing wrong with that — in fact, it's a good idea in general — but only as long as you actually, well, have the money to spend. And by 2005 or so, Venezuela didn't.

https://www.washingtonpost.com/news/...lete-collapse/

[Mosiah]

Check Venezuela's prison paradise.

https://www.youtube.com/watch?v=iRoYZhiRiCw

[Time]

Check Venezuela's prison paradise.

https://www.youtube.com/watch?v=iRoYZhiRiCw

Those paradise features do not cost the government anything.

[Gamma]

How Chavez managed to prop it up or is it that the wheels have only just now come off? I think those now in power just cannot manage....it takes a tarring personality and Maduro was not that

[Sir X]

The stars have alinged to oust Maduro,not Chavismo,oil @ 30 a barrel will do that, the rich elites who have been waging war in the air waves and supermaket (toilet paper shortage) will do that.


Maduro might well go which I hope, and then be swept right back in,This laborite neo liberal consumerist philosophy/agenda have a self destruct button, cc the Repugs/JLP.

[Islandman]

Any government can overspend without any consequences for a while, especially when you have oil with market value of more than $100 a barrel and assume that it will continue to be that way.

Seems like they have been doing the typical destructive things that govts with too much power do when things get sticky....printing of money, taking over industries and running them badly, implementing price controls, etc.

[Sir X]

How things were so much better for the masses before Chavismo.

[Muadib]

Laborite neo liberal consumerist ?

lol ! woiee !

You mean what happened when Eddie was rejected in '89 and the PNP ramped up unchecked neo-liberal policies...

Biggest sell-out in Jamaican history (post slavery)

[Sir X]

Well laba get dem chance in,y2k ,like the opposition in Venezuela will,I fear it will be the same thing with people stating ,dem rob fi demself while the socialist rob and share.

It's the labarite/Repug disease,unnuh tief fi self.

[Muadib]

There is a book called From Third World to First...

I suggest you read it...

Chavez probably should have done the same..

[Muadib]

laba get dem chance ?

Wheh yuh seh.. fix 20 years of effery in 5.. hold the mother of all global recessions while you at it.. and by the way di kitty empty..

All di same.. is bettah it was dem dan Portia... yuh can imagine di disaster if PNP did haffi deal wid dat deh global monsoon !

Tenk God fi small mercies...

[Sir X]

But unnuh claim unnuh a di financial masters,how unnuh mek di wutliss PNP deal with the aforementioned afta unnuh get vote out and unnuh flop suh ?....SMH...unnuh couldnt even pass one IMF test.....ahhhh sahhh.

[Muadib]

Engage your brain.. when was the Global Recession ?

I would posit that Bruce Golding's performance navigating those straights are up there with Seaga's rescue in the 80s

The conditions were probably more challenging during Golding's stint..

[Sir X]

Navigate it to where, did you pass an IMF test,unnuh put off di bitter pill so much and a rob so much till people vote unnuh out by a landside.

But hey yuh call dat that a rescue on par with Seagas 80s post civil war 70s.

[Muadib]

Ah nuh me seh suh.. ah di Economist..

Spin dat..