It's About Liberty: A Conservative Forum
Topics => Media Bias/Media War => Topic started by: Weisshaupt on January 31, 2016, 09:23:36 AM
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https://www.washingtonpost.com/news/wonk/wp/2016/01/29/venezuela-is-on-the-brink-of-a-complete-collapse/ (https://www.washingtonpost.com/news/wonk/wp/2016/01/29/venezuela-is-on-the-brink-of-a-complete-collapse/)
The only question now is whether Venezuela's government or economy will completely collapse first.
The key word there is "completely." Both are well into their death throes. Indeed, Venezuela's ruling party just lost congressional elections that gave the opposition a veto-proof majority, and it's hard to see that getting any better for them any time soon — or ever. Incumbents, after all, don't tend to do too well when, according to the International Monetary Fund, their economy shrinks 10 percent one year, an additional 6 percent the next, and inflation explodes to 720 percent. It's no wonder, then, that markets expect Venezuela to default on its debt in the very near future. 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.
Yeah, and eventually you run out of OPM. Every. Single. Time. You libtard hack. That is what is wrong with "helping the poor" with govt funds stolen from others at gunpoint. Eventually you ALWAYS run out of OPM
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Your comment, "You libtard hack", inspired me to click the link to find out just which libtard hack wrote this dreck.
"Matt O'Brien is a reporter for Wonkblog covering economic affairs. He was previously a senior associate editor at The Atlantic."
He did.
Wonkblog? The Atlantic? 'Splains everything.
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Some of the comments, too ....... Flogging the "socialism works fine when it's implemented correctly" line. "Look at Sweden". Yeah, just LOOK at Sweden.
What is it about humans who cannot -- will not -- recognize failure when they see it.
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Not only that, but Maduro has picked someone who doesn't even believe there's such a thing as inflation to be the country's economic czar. "When a person goes to a shop and finds that prices have gone up," the new minister wrote, "they are not in the presence of 'inflation,' " but rather "parasitic" businesses that are trying to push up profits as much as possible. According to this — let me be clear — "theory," printing too much money never causes inflation.
QE Infinity for $1000, Alex.
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Denial will occur there...and here...up to the point that people are chased down and slaughtered in the streets...
They can pretend they weren't warned/didn't know...
Ain't gonna count for sh*t though...