Venezuela, The United States Grand Plan to Discredit Socialism

in economics •  3 years ago

Doing some research for someone else today I came across an article that really had me wanting to laugh and cry. 

US-Led Economic War, Not Socialism, Is Tearing Venezuela Apart

The article does it's best to convince us that the US is part of some grand conspiracy to protect capitalism by artificially deflating oil prices. 

First of all it isn't even socialism that is causing Venezuela's economic collapse. It doesn't take a degree in economics to figure that out, just a whole lot of reading. 

Over a decade of mismanagement, corruption, and lack of economic diversity are easy to identify. 

In that time Venezuela has produced very little relying on imports as domestic and foreign companies closed or were expropriated. Companies expropriated or nationalized, especially agricultural, do not seem to be in operation today. 

Some of the last few private companies to remain such as Kimberly-Clark have recently pulled out as it was impossible to get raw materials and hard currency since all foreign currency is being tightly controlled. These companies are being labeled as economic saboteurs by president  Maduro and the US government is being accused of ordering them to leave.  

It is interesting to read opinions from those actually living in Venezuela.  99% of those comments I've read pretty much blame their government for some or all of the reasons I stated above.  It's mostly comments from those that live in the US that blame the US. 

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