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Freedom Makes a Comeback in Venezuela

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The opposition coalition destroyed the Socialists in elections for Venezuela’s parliament on Sunday. The Wall Street Journal reports:

Venezuela’s opposition, riding a wave of voter anger amid a deep economic crisis, swept to a big victory in midterm elections on Sunday, delivering a major blow to the ruling Socialist party and President Nicolás Maduro.

With 22 seats still too close to call, the opposition Democratic Alliance had won at least 99 seats in the 167-member National Assembly, according to official results released early Monday. That was more than double the tally so far for the ruling United Socialist Party, which captured 46 seats.

The margin of victory was bigger than expected, and a landmark victory for the country’s frustrated opposition, which hasn’t won a legislative or presidential vote since the late populist Hugo Chávez won the presidency in 1998 and launched his self-styled Bolivarian Revolution. Coupled with last month’s defeat of the ruling Peronist movement in Argentina’s presidential election, the outcome also signaled another important loss for leftist populism in South America.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.