05.18
Old Melonhead’s glorious socialist revolution in Venezuela is working out beaut, aint it?
Venezuela’s economy is in trouble despite the country’s huge oil reserves. Blackouts plague major cities. Its inflation rate is among the world’s highest. Private enterprise has been so hammered, the World Bank says, that Venezuela is forced to import almost everything it needs.
[...]
This is not the way it was supposed to be. Venezuela is one of the world’s great energy powers. Its oil reserves are among the world’s largest and its hydroelectric plants are among the most potent.
But these days, Venezuela is being left behind: The rest of Latin America is expected to grow at a healthy rate this year, according to the World Bank.
[...]
The grill at Landi Nieto’s burger joint still works: It runs on gas. But customers eat in the dark, Nieto says, if they venture out at all in the first place.
More here:
What more need be said of a country that has simultaneously extraordinary oil revenues and the highest inflation in the world? Not even African countries without governments and devastated by war have higher inflation than Venezuela. What can we say about the management of a country with the largest energy resources in the hemisphere, but that forces its inhabitants to live in a constant nightmare of blackouts and energy rationing?
Geniuses.
How’s that revolución working out for you now, morons?



