To the lovers of Socialism: Welcome to Venezuela…
…and a 130,000% inflation rate.
“Even while surrounded by military dictatorships and poverty, Venezuela at one time prospered with a strong economy and stable society. Today, three Latin American nations produce more oil than Venezuela, though it has the world’s largest proven reserves of crude, and just getting sick is nearly the same as death for some children.”
Yeah…Venezuela, the OPEC founder, has more proven oil reserves than Saudi Arabia.
“In 1950, under a military dictatorship that would last another nine years, Venezuela had the fourth-richest economy in the world on a per capita basis. By 1982 it was still the richest nation in Latin America. Today it’s reverted to Third World status.”
“Socialism kills. It has ruined Venezuela through price controls, the nationalization of industries, wealth redistribution, and an expansion of the raw power of government. Foreign investment has been driven out, the profit motive robbed. Opponents of the regime are imprisoned.” The only ones who benefit from Socialism are its leaders.
Everyone else simply pays the price (or, if healthy enough, leaves the country).
Venezuela was the “4th-richest economy OF THE WORLD” in 1950; has more proven oil reserves than Saudi Arabia, yet pumps less oil than Mexico, Columbia, and Brazil.
What part of this picture would any reasoning human being think attractive?