Seems the Progressive Left really are suffering from suspension of willful disbelief
Venezuela: Socialism's true face
The South American country Venezuela is virtually bankrupt. Which is odd considering that the country is sitting on one of the world's largest oil reserves. But from the socialist Hugo Chavez took power in 1999, and until 2013, oil production fell by a quarter. Exports by half. The country is currently in crisis. Grocery store are empty, the economy is shattered.
Getting hold of something as elemental as flour, washing powder and other basic goods requires one day standing in queues. Chavez and his successor Maduro has consistently nationalized and traskasserat business in the country. Venezuelans have been badly run state enterprises who do not go around. The fixed exchange rate has meant that the profitability of the private sector is close to zero and the black market has exploded.
Admittedly, it plays into the price of oil is at a record low, important for a country where oil is the only significant export product, but it does not explain that the country currently works worse than perhaps ever before. The main reason for the country's problems is the so-called Socialism of the 2000s, which was supposed to pave the way for a new wave of socialist states. But there was nothing new to Chavez and Maduro socialism and the result is eerily similar to the reality of millions of Eastern Europeans lived in the 1900s.
Venezuela: Socialismens rätta ansikte - Göteborgs-Posten
Venezuela: Socialism's true face

The South American country Venezuela is virtually bankrupt. Which is odd considering that the country is sitting on one of the world's largest oil reserves. But from the socialist Hugo Chavez took power in 1999, and until 2013, oil production fell by a quarter. Exports by half. The country is currently in crisis. Grocery store are empty, the economy is shattered.
Getting hold of something as elemental as flour, washing powder and other basic goods requires one day standing in queues. Chavez and his successor Maduro has consistently nationalized and traskasserat business in the country. Venezuelans have been badly run state enterprises who do not go around. The fixed exchange rate has meant that the profitability of the private sector is close to zero and the black market has exploded.
Admittedly, it plays into the price of oil is at a record low, important for a country where oil is the only significant export product, but it does not explain that the country currently works worse than perhaps ever before. The main reason for the country's problems is the so-called Socialism of the 2000s, which was supposed to pave the way for a new wave of socialist states. But there was nothing new to Chavez and Maduro socialism and the result is eerily similar to the reality of millions of Eastern Europeans lived in the 1900s.
Venezuela: Socialismens rätta ansikte - Göteborgs-Posten
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