In 2001 Venezuela was the richest country in South America; it is now among the poorest

What do? Non-meme answers please.

Other urls found in this thread:ía_de_Venezuela#Indicadores_econ.C3.B3micos

The communist revolution.

Here is a short video on Venezuela from a leftist perspective.
I know, but the video is alright and it goes over some of the thing that are often left out of the narrative in the west.

I meant to post that video but I forgot to paste the link
also, I forgot my shitposting flag

Venezuelan socialism stands at a cross-roads. Will it continue devolve into more state bureaucracy and socdemism form the barrel of a gun, or will it take the steps into giving the Communes and Colectivos the power? Some anti-authoritarian socialists support the rioters and opposition as a struggle against what they see as a corrupt and despotic regime but this is obviously not the answer. Neither is blind support for Maduro and his government, which is ripe with corruption and the like. The way out is lies in the communes and the poor of Venezuela, the true revolutionary vanguard of the Bolivarian Revolution.

Look at the PPP graphs

you won't end capital if you let the state continue

Venezuela proves that oil welfare and price controls are bad economics whether capitalist or socialist.


I want socdems to leave

The big problem of Venezuela is it's reliance on oil.
Through recent history, this country used this precious resource to gain much wealth, as you can see from chart. The trend continued until Saudi Arabia (with US support) decided to lower the oil price, so that they can eliminate competition in this field. Saudi's oil became much cheaper than Venezuela's, so people stopped buying oil from this country, which led to huge crisis we see now. Maduro is trying to uphold his predecessor's policy of eradicating poverty, so he needed to cut some expenses- mainly in food, which is now heavily rationed. Venezuela's situation is pretty dire and I don't really see much hope for this government. here is more about oil crisis.

The PPP ratio is fucking bullshit because of the price controls that were implemented in 2003-2004.—–

Wait, that's the straight "nominal GDP" data.

Yeah, congratulations, now you know what happens when you get more income from oil.ía_de_Venezuela#Indicadores_econ.C3.B3micos

Check the "Ingresos de exportación petrolera" (oil export revenue) numbers.

Given conservatives' squealing about Venezuela's "socialist dictatorship", it's kind of funny that wide scale nationalization/socialization (in conjunction with economic diversification, obviously) would actually solve most of their problems.
Pretty good article refuting a lot of the bullshit surrounding Venezuela.

Was Venezuela True Socialism?

read a book nigger

Only if modern china is socialist too.

This shit pisses me off so fucking much. It’s repeated over and over without citation. The only claim is that their GDP was super high in the 50s but it’s obviously just because of the price of oil after WW2

Argentina has 40% of the population in poverty. Capitalism oh!

maybe if they actually produced shit with what they have already nationalized

Yeah, and Venezuela has 81% of its population in poverty, 51% in extreme poverty.