Sunday, February 2, 2020

Venezuela Now Importing Oil

Venezuela was once wealthy. It had the highest economic growth rate of any nation on earth between 1940 and 1980. Now, due to the ravages of Socialism, Venezuelans outside of the urban elite are starving and the nation that still possesses one of the world’s largest oil reserves now must import 300,000 barrels of oil a day. This is stupefying.
And yet most of those seeking to be the U.S.’s Democratic presidential nominee come November are embracing the very political-economic system that turned Shangri-La into a shit-hole. One of them, Bernie Sanders, was a big fan of the Soviet Union.
Time and again we have seen what happens when private property is banned and the state owns the means of production. You get a U.S.S.R., a Cuba, a North Korea……a Venezuela, worker’s paradises all. If Holland was Socialist, it would have to import tulips and clogs. If France was, she would have to import wine and whining. If Wisconsin was, it would have to import beer and cheese.
It boggles the mind that the most thoroughly discredited—and dangerous-- idea in history still attracts a significant percentage of people. And that others are attracted to them.

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