No. of Recommendations: 10
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No. of Recommendations: 8
It saddens me to say that it’s true, all of it, a product of 20 years of socialism."

Tele,

Thank goodness, this could never happen in the USA. Our system of checks and balances ensure that any dictator would be either removed or voted out within 4 or 8 years, at the most.

Besides that, our reserve currency status and ability to borrow unlimited amounts of money at incredibly low interest rates would enable the US to buy plenty of toilet paper, food, and other necessities.

The Federal Reserve will protect us.

</sarcasm off>

;-)
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No. of Recommendations: 18
a product of 20 years of socialism."
______________________________________________

Or maybe a product of twenty years of trade sanctions by the US for not doing things the way we instructed them to

Jeff
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No. of Recommendations: 2
Jeff:"Or maybe a product of twenty years of trade sanctions by the US for not doing things the way we instructed them to"

You mean the US is the only place in the world that toilet paper is made?

Or the only country in the world that would buy Venezuelan oil?

Or supply them with fresh beans, pasta, cooking oil or meat?

Or had the only banks in the entire world?

Really?

<sarcasm off>

t
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No. of Recommendations: 17
Or maybe a product of twenty years of trade sanctions by the US for not doing things the way we instructed them to

Obama and the Democrats were quite friendly with Chavez until they found out what Chavez was all about. It's bad enough to have FAKE NEWS. We don't need fake memories.

The Captain
 


https://www.washingtonpost.com/blogs/right-turn/wp/2013/03/0...
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No. of Recommendations: 9
US sanctions hurt, that's the point of imposing them. But it was mostly the boom and bust oil cycle that doomed Venezuela. The politicians lacked the discipline needed to manage the cycle.

"A 2016 meta-study finds weak support for the thesis that resource richness adversely affects long-term economic growth.
A 2019 meta-analysis of 69 studies found "that there is no aggregate relationship between natural resources and conflict."
Research shows that oil wealth lowers levels of democracy and strengthens autocratic rule."
https://en.wikipedia.org/wiki/Resource_curse

"The main reason for the link between oil and authoritarianism, according to Ross and others, is straightforward: oil gives dictatorships money to buy off their citizens, so they don't have to democratize."
https://www.vox.com/2014/4/10/5601062/oil-curse-explained

In 1976, a prominent Venezuelan diplomat, politician and lawyer Pérez Alfonzo had these prophetic words: “Ten years from now. Twenty years from now, you will see. Oil will bring us ruin.”

if Karl’s comparative analysis of “the paradox of plenty” is correct, the Venezuelan petro-state’s extravagant squandering of resources, its massive subsidies which only reward inefficiency, the crude inequalities of income and opportunity, and the rampant corruption will mean that “the curse of the petro-state” will prove to be the real enemy of Chávez’s “revolution.”
https://www.econlib.org/library/Columns/y2005/Martinezpetro....
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No. of Recommendations: 0
Besides that, our reserve currency status and ability to borrow unlimited amounts of money...

"We owe it to ourselves!"
president Theodore Roosevelt

... would enable the US to buy plenty of toilet paper, ...

Legal tender to legal tinder to toilet paper, what a trip!

</humor off>
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No. of Recommendations: 5
"Research shows that oil wealth lowers levels of democracy and strengthens autocratic rule."

Norway seems to have done fine with oil wealth. Put it all aside in a giant trust fund for the future.

Same for the USA going back 100 years. Including Alaska that put the money in their 'permanent fund' that pays out yearly dividends to all residents.

It only takes one socialist strongman leader to ruin the lives of the country's people. One who believes in 'government control' of everything.

Nigeria is another basket case having squandered billions in corruption with little to show for it.



t.
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