Venezuela a failure of CAPITALISM.

[LV426]

It's not socialism that led to the chaos in Venezuela, it's capitalism (as it always is).

Venezuela's economy is reliant on fossil-fuel production. So when the price of oil is high, Venezuela enjoys a wave of revenues based off the global price per barrel of oil. But when the price of oil declines, the revenues based off that decline as well thus creating budget crunches. The same thing happened in Texas and Oklahoma back in 2016, when the price per barrel of oil dropped significantly.

Now, Conservatives have taken to say if Venezuela merely used the revenues to further develop and expand oil production, they wouldn't face the problems they face today. But that is completely wrong because if Venezuela did that and increased production and expansion, that would only result in a further decline in the price per barrel because it would be increasing the supply of oil. So Venezuela can't merely drill their way out of the mess because doing so only further devalues the price of oil as they increase the supply.

So as you see, this isn't a failure of socialism. It actually has nothing to do with socialism and everything to do with the global, capitalist cartels who set the price of oil and control the supply that fluctuates the price.

[Jarod]

It is a failure of authoritarianism and A success of American sabotage.

[LV426]

It is a failure of authoritarianism and American sabotage.

But at its core, it's a failure of capitalist global oil markets since everything is tied to the price per barrel.

[Jarod]

But at its core, it's a failure of capitalist global oil markets since everything is tied to the price per barrel.

Good point

[dukkha]

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

it's a failure of state socialism- way heavily reliant on oil revenues to fund their massive socialism.
They drained ALL the revenues, instead of reinvesting like normal oil companies world wide do

[cawacko]

Reading this thread like

[Earl]

From Venezuela to the French elections, the world is rejecting the policies of socialist leaders and ... form that in many countries has been called Social Democracy.

[TTQ64]

But we have democratic law makers afraid to say capitalism is a disaster.

on MSNBC they force dem presidential candidates to praise capitalism and denounce socialism.

[TTQ64]

It's not socialism that led to the chaos in Venezuela, it's capitalism (as it always is).

Venezuela's economy is reliant on fossil-fuel production. So when the price of oil is high, Venezuela enjoys a wave of revenues based off the global price per barrel of oil. But when the price of oil declines, the revenues based off that decline as well thus creating budget crunches. The same thing happened in Texas and Oklahoma back in 2016, when the price per barrel of oil dropped significantly.

Now, Conservatives have taken to say if Venezuela merely used the revenues to further develop and expand oil production, they wouldn't face the problems they face today. But that is completely wrong because if Venezuela did that and increased production and expansion, that would only result in a further decline in the price per barrel because it would be increasing the supply of oil. So Venezuela can't merely drill their way out of the mess because doing so only further devalues the price of oil as they increase the supply.

So as you see, this isn't a failure of socialism. It actually has nothing to do with socialism and everything to do with the global, capitalist cartels who set the price of oil and control the supply that fluctuates the price.

Standing Ovation.....

[Earl]

“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.

[Earl]

Socialism failed its citizens in Venezuela. Their citizens are starving and leaving their country 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:”


Fizz poll

[LV426]

Socialism failed its citizens in Venezuela

NO.

Capitalism failed because the global price per barrel dropped and caused a decline in revenues to the state.

[LV426]

“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:”

Yes, Conservatives have done a good job of attacking socialism despite supporting socialist things.

[Heff]

It's not socialism that led to the chaos in Venezuela, it's capitalism (as it always is).

Venezuela's economy is reliant on fossil-fuel production. So when the price of oil is high, Venezuela enjoys a wave of revenues based off the global price per barrel of oil. But when the price of oil declines, the revenues based off that decline as well thus creating budget crunches. The same thing happened in Texas and Oklahoma back in 2016, when the price per barrel of oil dropped significantly.

Now, Conservatives have taken to say if Venezuela merely used the revenues to further develop and expand oil production, they wouldn't face the problems they face today. But that is completely wrong because if Venezuela did that and increased production and expansion, that would only result in a further decline in the price per barrel because it would be increasing the supply of oil. So Venezuela can't merely drill their way out of the mess because doing so only further devalues the price of oil as they increase the supply.

So as you see, this isn't a failure of socialism. It actually has nothing to do with socialism and everything to do with the global, capitalist cartels who set the price of oil and control the supply that fluctuates the price.

More ahistorical, nonsensical lies. Kim Jung Un says the same sort of nonsense to the citizens of his slave state.

[Earl]

Socialism failed to feed its citizens in Venezuela. Socialism has failed all over the world.



“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:”