Pay attention @Nabii
Chavez fucked them. He introduced socialism. Good intention, but Venezuelans started getting used to free money. Then shut down industries. Can you imagine, during Chaves time, abundant oil, they used to import bread from Brazil. Yaani mkate inaletwa na ndege. There was no sugar processing. So more and more, Chavez had to divert oil money to sustain people. Which left the oil fields yield dropping ( they need frequent repairs, upgraded, maintenance), some rigs were shut down for good.
By the time Chavez died, Venezuela was a soft target for sanctions. And they won’t recover for another 50 years.
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Admin can close this thread now.
Reopen thread. Go read Chavez principles in Venezuela. What is the largest policy? Ukianza kupea wasee free goods, all of a sudden, everybody wants them by qualification.
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That’s the basic premise of socialism. Giving people free stuff and removing incentives to work (toil), is going counter to the basic principle of You no work, You no eat.. go away. A country with more oil deposits than Saudi Arabia shouldn’t be a third world country.
Luckily, it seems the Americans are in freedom exporting mode, and the economic forecasts for Venezuela show it’s freedom imports will likely be doubled over the next 3 quarters.
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This is what brought the Soviet Union down to it’s knees.
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Freedom?
