How Democratic Socialism destroyed Venezuela

No matter what the Democratic Socialists say, socialism always ends like Venezuela and Cuba, not Norway or Finland. It is not a difference in how socialism is applied, but in the fact that Venezuela and Cuba are socialist and countries like Norway and Finland are not.

(For those still clinging to the myth of “Nordic Socialism,” our good friend Giancarlo Sopo provides the data debunking that myth HERE and HERE.)

Socialism has destroyed Venezuela, and putting “Democratic” in front of it doesn’t make it any less destructive or despotic.

Mamela Fiallo in PanAm Post:

From Democratic Socialism to Total Destruction in Venezuela

How Democratic Socialism spawned Hugo Chavez

If you throw a frog into boiling water, it will jump out and survive with mild burns. But if you cook it by slowly raising the temperature, it won’t notice at first and will end up being boiled alive. That is a common proverb in Venezuela that describes how socialism has gradually consumed the nation.

At a Webinar coordinated by the Atlas Network, businessman and PanAm Post publisher Luis H. Ball, explained that it all began nearly 50 years ago when “democratic socialism” began to be applied by Venezuela’s elected rulers.

[…]

During the 1970s, Venezuela’s per capita income was higher than the sum of all other Andean nations, including Chile. The country had the lowest taxes in the region, coupled with a stable democracy.

Since the US left the gold standard, only the Swiss franc and the Venezuelan bolivar managed to maintain their value. In 1980 the Venezuelan bolivar was worth more against the U.S. dollar than in 1880.

It remained that way until the 1973 elections when both the legislative and executive branches came under the power of a single democratic socialist party, Acción Democrática, while simultaneously the Arab oil embargo that year produced a huge increase in oil prices. as a result government revenues increased by a factor of 4.

The government than embarked in “democratic socialism”, systematically applying the same theories supported now in the USA by Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez.

[…]

By the early 1980s, daily oil production fell to 1.2 million barrels, down from 3.5 million in 1973 as a result of faithfully applying Perez Alfonzo’s theories despite holding the world’s largest oil reserves.

When it  dawned on Venezuela’s leaders the stupidity of this policy, It would take twenty years to reach a production of 2.0 million barrels in 2000.

As the private sector shrank, so did employment. The nationalization of the Central bank resulted in the destruction of the currency’s value, inflation reared its ugly head.

By 1998 Venezuela was in a deep. Its old prosperity was long gone. The governing “democratic socialist” parties were completely discredited. People demanded change.

Hugo Chavez was trained by Cuba

Hugo Chavez himself publicly admitted having been recruited as a communist operative by Alfredo Maneiro, founder of the Causa Radical party, a guerrilla group operating illegally in the country during the 1970s.

Chavez was in reality a Cuban mole within the Venezuelan army for over twenty years.

Continue reading HERE.