Or she knows about it and you don't because you have judgment so shitty, a reality TV show host convinced you to vote for him.
Bartender/ Actress the lie behind AOC
- Thread starter Wolverine
- Start date
Or she knows about it and you don't because you have judgment so shitty, a reality TV show host convinced you to vote for him.
Venezuela is a failure of capitalism and here's how: Venezuela relied heavily on revenues from oil to fund programs and expansion. That worked for Venezuela while the price of oil was high. But then the price of oil dropped, and as a result Venezuela saw a drop in revenues.
Increasing production doesn't help because that only increases the supply, which drives down the price per barrel even further. So Venezuela, like Texas and Oklahoma 3 years ago, faced a massive budget crunch because of the decline of the price per barrel.
So the failures in Venezuela is because of the global oil market, which is controlled by a cartel.
Socialism has nothing to do with it, and pretending it does is bullshit.
No, it didn't you fucking idiot.
The decline in the price per barrel did that. So if Venezuela invested in more oil expansion and drilling, that would have only devalued the price of oil further, putting Venezuela even further behind.
These are basic economic principles you can't seem to understand.
That's because you were probably homeschooled.
Socialism has nothing to do with the global price per barrel of oil rising and falling.
Venezuela faced this situation because the global price per barrel of oil fell sharply.
So drilling and producing more oil will have what effect on the price per barrel?
Use critical thinking skills, if you have them.
that's crazy..consider how badly Chavez/Maduro leaned on the oil revenues to fund their social programs .
Pumping more might have lowered the price per barrel ( although oil is worldwide fungible )-
but they had no real other alternative for funding ( as we see now).
It was the firing of foreign expertise and the lack of capital re-investment that killed their oil industry
THEY DON'T.
Yeah, some do...but that is to be expected.
Over a million Americans go to other countries for their healthcare every year.
So live with your delusions, Wolverine...but if you post that shit here, you are going to be told you are dead wrong.
AND YOU ARE.
Conservatives are so warped that supply and demand is "crazy" to them.
It doesn't matter what Venezuela did or didn't do with the revenues from oil...what matters is that basing your economy on fossil fuels is a recipe for disaster because you can't drill your way out of low oil prices.
Increasing the global supply of oil will always result in a reduction of the price per barrel because of the "crazy" concept of supply and demand.
Exactly. The economy wasn't diversified, and was reliant on almost one export. That is a mistake not exclusive to Venezuela; Texas, Oklahoma, and North Dakota faced a similar problem 3 years ago. Fortunately, those are just states and not sovereign nations, and have somewhat more diversified economies. But the central problem is that all three, and Venezuela, rely on revenues from oil in lieu of taxation to fund social programs, etc.
So the failure in Venezuela isn't because of socialism; it's because capitalism reduced the price per barrel and forced Venezuela into a crunch because of lower oil revenues.
NOPE.
It was the price per barrel dropping that killed their oil industry, just like it did in Texas 3 years ago when the same thing happened.
Increasing production in Venezuela would only have resulted in a further decline in the price per barrel, because of supply and demand.
So you really, really want to blame socialism for what happened in Venezuela, but you know it's the fault of capitalism and the lowering of the price per barrel that caused the problems.
Increasing production and exploration would only increase the supply of oil, which would drive down the price per barrel.
Your shit argument can't seem to get past that inconvenient truth, which is why it is shit.
American conservatives are so terrified of "socialism" that they are shitting their pants that most Americans want to borrow some socialistic ideas...to put a rein on unrestrained capitalism...and what it is doing to our nation.
They're not terrified of "socialism" failing...they're terrified of socialism succeeding thus proving everything they said about it wrong.
The biggest threat to Conservatives isn't a Nanny State, it's having their judgment and instincts invalidated by the success of programs they insist won't succeed. Like they did with Medicare, Social Security, and the ACA.
Conservatives have no actual principles other than ego preservation at all costs.
I have comple disregards for your charlatan economics as well. remember when you were going around saying inflation was 2.9% in 2018? you make shit up or cherry pick you economics.
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Your sole argument is that increased pumping reduces prices, it does but would Venezuela pumping more
significantly lower the oil revenues to a point it was a net loss with more pumping?
That's the most silly construct yet!
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Chavez fired the expertise needed to keep the well in good order,and the refineries to handle the high sulphur crude.
It was the fact they went completely socialist (ignoring diversification unlike capitalist countries do)
and DRAINED ALL THE REVENUE TO SUPPORT THE SOCIALIST LARGESSE that left the industry in disrepair-
collapsing their industry in a very short time period
Yeah, we know you're the type of person who makes shit up as you go. That you reject any academic or empirical evidence that shows how your fundamental core beleifs are wrong, simply because your governing ideology is self-preservation of your ego above everything else.
That's why you have multiple IDs; you blow through your credibility so fast that you have to create a brand new persona to start over.
Total fucking fraud.
I didn't make anything up and that 2.9% was annualized from October to October. And then I corrected myself when that rate was actually 2.5%.
You, on the other hand, just make shit up as you go, and then switch between ID's to lend yourself support.
BTW - you all promised 3% GDP growth last year.
What happened?
Why can't you deliver on your promises?
YES!
You cannot drill your way to higher oil prices.
There exists no equation where that truth will be borne out.
Furthermore, it's OPEC that sets the price per barrel, not solely Venezuela.
There is no math where an increase in production offsets the decline of the price.
It doesn't. Fucking. Matter.
What matters is the global price per barrel.
That price is intrinsically linked to the global supply.
So if you increase the global supply, you are decreasing the global price.
We know you reject supply and demand not because of anything contrary to it, but because of your ego and your fear of being called out for being wrong about everything.
To you, the biggest threat is to your credibility.
So that's why you call supply and demand "crazy".
Nope.
All that matters is the price per barrel.
At least now you're learning the lesson that we cannot drill our way to prosperity, even if you reject the most basic fundamental principle of supply and demand.
The global price of oil didn't decline because of your subjective judgment that Venezuela let their oil industry fall into a state of disrepair.
You want people to believe that because that's the only way your "OOGA BOOGA SOCIALISM" argument makes any sense.
So you're trading on the hope that people are as stupid as you, as you make these stupid arguments that are so easily disproved.
Nonsense.
What collapsed the industry was the decline of the price per barrel.
And you can't drill your way to higher energy prices, and thus, higher revenues.
In no world is that ever the solution.
Socialism failed the citizens of Venezuela. Their citizens are starving and leaving in search of food and economic opportunity.
“Just 25 percent of registered voters hold a positive view of Socialism, including 50 percent of self-described liberals, while nearly 60 percent hold a negative view. On capitalism, the numbers are nearly exactly reversed: 57 percent favorable, and 28 percent unfavorable. As for the overall role of government, this should be welcomed as a healthy sign by conservatives:”
Fox poll
“Just 25 percent of registered voters hold a positive view of Socialism, including 50 percent of self-described liberals, while nearly 60 percent hold a negative view. On capitalism, the numbers are nearly exactly reversed: 57 percent favorable, and 28 percent unfavorable. As for the overall role of government, this should be welcomed as a healthy sign by conservatives:”
Fox poll
No socialist nor wannabe socialist supports themselves.