JP Carroll The Venezuelan economy is doing so poorly that three dozen 747 airplanes had to fly in much-needed cash. Inflation will reach 720 percent this year in the oil rich country, according to the International Monetary Fund. While inflation is reaching an unprecedented rate, Venezuelan currency printing firms are unable to contend with the amount…
After years of idiotic socialist policies, Venezuela’s economy is on the verge of complete and utter collapse. by Joey Clark Despite having some of the earth’s largest oil reserves, the country is essentially bankrupt, ransacked by incompetent government central planners. Matt O’Brien reports: “…Chávez turned the state-owned oil company from being professionally run to…
JP Carroll In a bid to change the outcome of Venezuela’s Dec. 6 legislative elections, the ruling Venezuelan Socialist Party wants to appoint sympathetic judges to the country’s Supreme Court. The conservative Democratic Unity Roundtable, known as MUD, publicly accused Socialist President Nicolas Maduro Wednesday of using “legal tricks to steal something the voters didn’t want to…
Guy Bentley Venezuela’s socialist President Nicolas Maduro is preparing to sue the United States for declaring his country an extraordinary threat and imposing sanctions on government officials. On March 9, President Barack Obama signed an order sanctioning seven Venezuelan officials for gross human rights violations. Maduro claimed his government had gathered 11 million signatures in…
Ethiopia In 1974 a Marxist-Leninist military junta called the Derg seized power in Ethiopia, disposing Dictator Haile Selassie. A one-party communist state was established named the People’s Democratic Republic of Ethiopia. The new regime suffered several coups and uprisings, while battling a major drought and a refugee crisis. A brief war with Somalia was won…
A Venezuelan Governor Has Suggested Starving Citizens Eat Rocks And Sticks When Oscar Wilde said, “Socialism would relieve us from that sordid necessity of living for others” he may have unintentionally intuited the mindset of future socialist rulers, i.e. socialism always leads to an attenuated “us”–a small clique of ruling elites–not “living for others” but…
by Jose Nino History has shown time and time again that even the greatest of empires can decay and turn into total basket cases. At first, these declines may seem inevitable and outside the citizenry’s control, but they are actually the logical consequences of horrendous public policies put in place by these very governments. The…
by Jose Nino Currently, Venezuela is one of the most notable case studies of the failures of socialism and interventionist economic models. An oil rich country that enjoyed high levels of economic growth and stability from Post World War II to the 1980s, it is now descending into veritable Banana Republic status. Plagued by high…