The Venezuelan economy is in a shambles as it reaches the end-phase of its socialist “Bolivarian Revolution.” The socialist experiment in Venezuela has left it with some stats that are hard to look at. The Economist reports: Venezuela has the world’s worst-performing economy among countries not at war. GDP fell by more than a third […]
America Can’t Bomb Venezuela into Prosperity
Writing in The American Conservative, Cato Institute senior fellow Doug Bandow takes aim at the dangerous idea that an American military intervention in Venezuela would somehow help the country prosper. He writes (abridged): War is the ultimate human calamity. Despite the fevered hopes and utopian promises of its advocates, loosing the dogs of war almost […]
Yes, that is Real Socialism in Venezuela
Coffee has been grown in Venezuela since the late 1800s, but today a minimum-wage employee in Venezuela can afford only 5 cups of coffee a month on their wages, with nothing left over. The trouble with Venezuelan socialism, just like all attempts at socialism, is that it misallocates resources. Now, after years of a fictional […]
Would You Trade Your Freedom for Survival?
In Venezuela, reports The Wall Street Journal, the socialist Maduro government is using the threat of food ration curtailment to force citizens to vote for the regime. Ryan Dube, Kejal Vyas and Anatoly Kurmanaev write: A 32-year-old teacher, she’s fed up with President Nicolás Maduro’s government. Her salary has fallen to the equivalent of $2 a month […]
Venezuela: Verging on Failed State Status
Venezuela is verging on failed state status says former U.S. Ambassador to Venezuela Patrick Duddy. A Happy Meal in Caracas costs US$146. The government has reduced the work week to two days to save power. This is what socialism looks like. Watch the latest video at video.foxbusiness.com