how has Venezuela managed to spend themselves into ruin without raising prosperity one iota compared to early 70's

Oh, Obama noticed all right. So did his predecessors. Their refusal to buy Venezuelan oil has really hurt that country. Only Joe Kennedy seems to care.

Spanish culture. Coming soon to a city hall near you.

Too many commies and lefties.

Hugo C. wrote:

Oh, Obama noticed all right. So did his predecessors. Their refusal to buy Venezuelan oil has really hurt that country. Only Joe Kennedy seems to care.

Look at the charts. Production is way down after Chavez scared off investors. Plus they give away half of the little they now produce to help prop up Cuba. Another failed "eat for free" nation.

Chavez nationalized oil production then distributed the proceeds to cronies and voters to win favor. Pretty standard kleptocracy though spread around a bit more broadly than the systems in the MidEast/Russia/Iran/Nigeria. Collapsing oil production infrastructure (95% of the country's exports) will soon crater their economy and their government.

Not a very educated comparison with US policies or economy. US resources are privately developed; innovation and investment in technology high; our economy highly diversified; inflation minimal.

Let the truth loose wrote:

Hugo C. wrote:

Oh, Obama noticed all right. So did his predecessors. Their refusal to buy Venezuelan oil has really hurt that country. Only Joe Kennedy seems to care.

Look at the charts. Production is way down after Chavez scared off investors. Plus they give away half of the little they now produce to help prop up Cuba. Another failed "eat for free" nation.

Do you think production would be down if the U.S. was buying? Of course not.

Of course the US buys Velenzuelan oil. Those clowns don't have the refining capacity to process their own crude. Production is down because they siphon off all the cash for political favors rather than upgrading their equipment. Similar cause and effect relationship in Mexico though not to the same catastrophic degree.

Liberal policies (fiscal/social programs) don't work like people think they do - they gut the middle class, scare away business/investment, and ruin societies.

But they *feel* good. This is why social workers love them (that and they'd be unemployed otherwise).

Lots of angry talk from a bunch of fellers who'd have a hard time finding Venezuela on a map. :D

Chewbacca wrote:

Lots of angry talk from a bunch of fellers who'd have a hard time finding Venezuela on a map. :D

shut up, you libtard commie

Hugo C. wrote:

Do you think production would be down if the U.S. was buying? Of course not.

Don't be stupid. Oil is fungible.

Obama has done nothing on the scale of what the whacko borderline communists, Chavez and Meduro have done. Chavez nationalized oil. Drove away multinational air lines, banks. He also destroyed the stock market in Caracas. The best and the brightest don't actually work anymore they speculate on currency and do hustles in converting worthless bolivas to dollars or other hard currency. The country is FUBAR....

Hoggyjobber wrote:

Hugo C. wrote:

Do you think production would be down if the U.S. was buying? Of course not.

Don't be stupid. Oil is fungible.

I'm guessing Econ was not your best subject.

Ummm...ever hear of Dutch disease?

krispy kremlin wrote:

Liberal policies (fiscal/social programs) don't work like people think they do - they gut the middle class, scare away business/investment, and ruin societies.

But they *feel* good. This is why social workers love them (that and they'd be unemployed otherwise).

So why is Bolivia's economy growing so rapidly then?

Same question for Uruguay.

liberal world order wrote:

Spanish culture. Coming soon to a city hall near you.

american culture.bombing a city near you soon