Free Markets, Free People

How to crash a country

If you want a recent example, try Venezuela where socialism was “installed” and the inevitable happened … the economy finally crashed.  In fact, its so bad that we’re now headed into hyper-inflation territory:

Venezuela is preparing to issue bank notes in higher denominations next year as rampant inflation reduces the value of a 100-bolivar bill to just 14 cents on the black market.

The new notes — of 500 and possibly 1,000 bolivars — are expected to be released sometime after congressional elections are held on Dec. 6, said a senior government official who isn’t authorized to talk about the plans publicly.

Many Venezuelans have to carry wads of cash in bags instead of wallets as soaring inflation and a declining currency increase the number of bills needed for everyday purchases. The situation is set to get worse. Inflation, already the fastest in the world, could end the year at 150 percent, said the official.

The government stopped releasing regular economic statistics in December, when it reported inflation had reached 69 percent.

We’ve chronicled and discussed the failure of Venezuela as a “socialist republic” for a few years.  Of course, as reported earlier this month, not everyone there is poor.  Apparently the daughter of Hugo Chavez is suddenly worth $4 billion.  I’m sure all of that is from Hugo’s army retirement pay.

All of that to say, I’m not sure what sort of example some people need to understand that socialism doesn’t work.  It didn’t work in the USSR.  It hasn’t worked in Cuba. And Venezuela is just the latest example of its failure.

But this is America, where a good portion of the population apparently lives in a fantasy land, is ignorant of the laws of economics or actually believes that the government has money.  And if they don’t believe the government has money, they do believe it has a “right” to yours.  Your progressive agenda from the only progressive Democrat brave enough to call himself what the rest are as well … a Socialist:

 

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We call it the “Venezuela plan”.

~McQ

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7 Responses to How to crash a country

  • Because one Venezuela is NEVER enough! The NEXT one will work…!!!

    The “forever socialists” in the stupid generation wonder in print if modern supercomputers would have made the Soviet Union a WINNAH…!!!

    What they don’t git is…
    1. MARKET economics brought us supercomputers, and…
    2. No. Partly because PEOPLE will queer data, AND partly because you can never have the kind of data speed feeding into the computer that people naturally have in markets.

    • Because them computers, they’re like one of them magical wand things and they fix ever-thing!
      The modern stupid generation. The generation who have been trained to think “shut it off and turn it back on” is an acceptable practice for using an allegedly functional device.

      Go and check out the stats for the number of new software projects started that result in a new useable computer software system.
      Presumably the people getting paid for these super computer systems will reside in some other country, in mansions, after they’ve completed their work creating our socialist paradise.
      For pictures we can include the cost vs utility graph from Obamacare’s website as your baseline for how great modern supercomputers have made healthcare enrollment!

    • The unwashed masses never seem to contemplate when there is (total) central control: Who gets the control? Answer: Not you.

  • Is it really much better than what’s happening by Democrats with complicit Republicans?

    I had to get to bullet #6 before I saw one that is a departure from Republican/Democrat gestalt , ‘Break up Big Banks’. Bernie is probably about a sincere as when any Democrat says it because he know who butters his toast.

  • “occupy democrats”

    Heh! Who says the left doesn’t have a sense of humor?