Aaaaand another Socialist paradise...
- 90% unemployment,
- state-run electricity meaning no electricity for all
- 50% taxation
- government controlled currency causing 350%+ hyperinflation, just 9 years after their last currency collapsed at 87 sextillion per cent!
It all started in the 1980’s when their government looked to create a socialist society, fair for all.
This included spending the tax dollars on redistributive efforts and other reforms such as:
- Education for all
- Healthcare for all
- Minimum wage laws
- Land reform
- Controlled media/crushing free speech
- Increased taxes on the wealthy
And just like Venezuela, initially it felt good (happiest country in 2008), but eventually they ran out of people to steal money from and as socialism always does, it collapsed. Lucky the free market solution (bitcoin) is attempting to save the impoverished.
Socialists in America and Australia are now calling for all of the above measures to be taken, to an even larger extreme than they already are.
History is crystal clear where we end up from here, our own hyperinflation awaits. Talk about demanding your own impoverishment....