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Author Topic: Any bets on how long before Venezuela collapses
JWatts
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Queue the complete collapse of Venezuela in 3, 2, 1...

Well, socialism has run amok in Venezuela and the country is on a downward economic death spiral. But socialist true believers will not let reality stand in their way. After all, there is always some "vast right wing" conspiracy to be blamed.

Chavez Orders Expropriation of Owens-Illinois

quote:
Venezuelan President Hugo Chavez on Monday ordered the expropriation of U.S.-based glass maker Owens-Illinois Inc.'s unit in the South American country.

Chavez announced plans to expropriate the company in a televised speech, saying it operates in western Trujillo state.

The leftist leader criticized the company's practices in the country, saying it had been "taking away the money of Venezuelans" and exploiting local people. Chavez did not detail his complaints about the company.

[Roll Eyes] Didn't detail his complaints, eh? What details do you need? He needs protein for his socialist revolution and he's busy slaughtering the egg laying chickens.


quote:
It was unclear how the government would handle compensation for the company's assets in Venezuela.

I doubt it's really that unclear. Chavez seizes the assets and if the company kisses his ass afterward he'll reward them with a low percentage of the value, any other reaction and they get a pittance or zero.

quote:
He said in his speech that more expropriations are planned.

"There's another list around here," Chavez said, but added that he would save additional announcements for later.

I'm sure there is a list. But his fundamental problem is that the list is getting shorter all the time.

quote:
The trouble with socialism is that eventually you run out of other people's money. - Margaret Thatcher

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JWatts
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Chavez calls Venezuela-owned Citgo "bad business"

quote:
U.S. refining and gas station company Citgo is an undervalued, bad business that its owner Venezuela is currently stuck with, President Hugo Chavez said on Monday.

"Citgo is bad business. We have not been able to get out of it, we are subject to U.S. law," Chavez said on a late night TV appearance following a tour of Europe, Russia and the Middle East during which he announced the sale of some Venezuelan oil assets.

"That company has eight refineries, I don't know how many tanks, it distributes fuel via 8,000 stations in the United States, yet it makes us no profit," Chavez said with indignation.

Link

The irony in these statements is so thick, it's almost overwhelming. He nationalizes American owned companies in Venezuela saying it had been "taking away the money of Venezuelans" and exploiting local people.

And then [DOH] complains that his Venezuelan owned company in the US isn't turning a profit. [Eek!]

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Pete at Home
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How is socialist Sweden doing compared to the USA these days? Unemployment in Vegas is pretty bad. Everyone needs a lawyer and no one can pay these days [Frown]
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JWatts
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Well according to this Prosperity Index , small, homogeneous, socialist Sweden is doing pretty well at 6th on the ranking. While the socialist US ranks at 10th. But socialist France ranks at 19th.

Indeed, the US is the highest ranking large country on the list. The next closest large, diverse country is the UK at 13th. (Hmmm, probably the next 'least' socialist large country. Must just be a coincidence.)

So overall, the US is doing very well. Of course, you can watch the massive riots in France and understand its not a bed of roses in Europe currently either.

Oddly enough socialist Cuba failed to make the list at all. Too much of a good thing, I guess. [Wink]

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Rafi
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Almost there....

quote:
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.


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Fenring
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Speaking of Venezuela's problems as if they are all of their own making in a vacuum is silly. No South American economy has ever been allowed to stand on their own two feet unless they play ball and do what they're told. Every one that tries to get out is strangled of resources. On the one hand you can call them stupid for trying since it's guaranteed to ruin their economy, but on the other hand...well you know.
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Rafi
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Yeah, I know. The failure of collectivism is always someone else's fault.
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Rafi
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Demonstrating its not just you:
quote:
The Venezuelan Observatory of Violence (OVV), a non-governmental organization, estimates there were 40 cases in 2014 of lynchings, usually defined as extrajudicial killings by mobs.

The Observatory does not yet have figures for 2015, but a Reuters tally of media reports shows that in the last month alone there have been over a dozen mob-led beatings or lynchings.

There is no official public data on mob justice in once industry-rich Valencia or across a country that is in economic crisis. President Nicolas Maduro's administration often blames violence on political rivals seeking to sabotage the socialist government. Authorities have also accused foreign media of exaggerating crime in Venezuela.


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Fenring
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I guess your lack of awareness of CIA operations is someone else's fault too [Razz]
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philnotfil
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quote:
Originally posted by Fenring:
I guess your lack of awareness of CIA operations is someone else's fault too [Razz]

That doesn't count, we were doing it for their own good. Otherwise the commies would have taken over [Razz]
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Pete at Home
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quote:
Originally posted by Rafi:
Demonstrating its not just you:
quote:
The Venezuelan Observatory of Violence (OVV), a non-governmental organization, estimates there were 40 cases in 2014 of lynchings, usually defined as extrajudicial killings by mobs.

The Observatory does not yet have figures for 2015, but a Reuters tally of media reports shows that in the last month alone there have been over a dozen mob-led beatings or lynchings.

There is no official public data on mob justice in once industry-rich Valencia or across a country that is in economic crisis. President Nicolas Maduro's administration often blames violence on political rivals seeking to sabotage the socialist government. Authorities have also accused foreign media of exaggerating crime in Venezuela.


Lynchings are also common in Mexico and Cameroon. Example: In Mexico two undercover cops peeking theough windows to investigate were lynched by a neighborhood as suspected pedophiles. In Cameroon, a 10 year old was nenecklaced and burnt alive for stealing a cell phone. Mob justice is common in countries where the people feel the government cant or wont protect them.
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Rafi
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quote:
Originally posted by Fenring:
I guess your lack of awareness of CIA operations is someone else's fault too [Razz]

It's the CIA's fault that Venezuela is collapsing? It's always someone else's fault when these types of governments collapse. The U.S. And the Jews are favorite scapegoats, only a matter of time.
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