Surprise: Socialist Hotbed Of Venezuela Has Lost Half It’s Economy

Quite frankly, I’m surprised it has half left. This is a country that cannot even produce toilet paper and beer. And they’re stealing zoo animals for food. Here we have a Progressive/Marxist/Socialist station (CNN) telling us about how bad things are in a PMS nation

Half the Venezuelan economy has disappeared

It’s getting worse. Unemployment will reach 30% and prices on all types of goods in the country will rise 13,000% this year, according to new figures published Thursday by the International Monetary Fund.

The IMF’s economist for the Western Hemisphere, Alejandro Werner, put Venezuela’s future bluntly.

“In Venezuela, the crisis continues,” Werner said in a blog post. He added that inflation is skyrocketing this year because of “the loss of confidence in the nation’s currency.”

This year will mark the third consecutive year of double-digit contractions in Venezuela’s gross domestic product, the broadest measure of economic activity. The nation’s GDP declined 16% in 2016, 14% last year and it’s projected to fall 15% this year, according to the IMF.

Venezuela is deep into an economic, political and humanitarian crisis, largely inflicted by the government’s own policies, economists say. Food and medical shortages are widespread. People are scavenging for food in dumpsters. Citizens are fleeing by the thousands. The currency, the bolivar, is nearly worthless. The government has defaulted on its debt. World leaders are calling President Nicolas Maduro a dictator.

And what policies are those? PMS ones. Big, dominating, controlling government ones. Similar to the same ones Democrats push. The darling of the Left’s last primary season, Bernie Sanders, also a favorite of the young Democrat voters, espouses policies not that dissimilar from Maduro’s, and Hugo Chavez before him.

If it wasn’t for fossil fuels, Venezuela would probably be in the same shape as Somalia.

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4 Responses to “Surprise: Socialist Hotbed Of Venezuela Has Lost Half It’s Economy”

  1. Navyvet says:

    Is this Venezuela or California? Hard to tell the difference in the government of either Shithole.

  2. Jeffery says:

    And of that “Communist” paradise California? A balanced budget and booming economy. Capitalism prevails.

    We think TEACH has PMS.

    • gitarcarver says:

      And of that “Communist” paradise California? A balanced budget and booming economy.

      Actually, no.

      The state of California is losing business and wealthy people to other states.

      Secondly, while you keep repeating that the state has a proposed balanced budget, the state ran a deficit in actual fiscal 2007 but is estimated in doing better this year because of spending cuts.

      However, the 2000 lb gorilla in the room is still the pension obligations the state is committed to and cannot get out of. Those obligations are not part of any proposed budget but yet must be paid.

      California is not the economic utopia that you paint it to be.

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