Tuesday, January 8, 2019

BadMouseProductions - Argument ad Venezuelum

This video is over a year old, but this guy articulates his arguments really well. He was once a libertarian, and for the best of reasons as he really thought it would bring peace and well-being to the world, but then the penny dropped and he turned to the left.

Socialism is terrible, just look at Capitalist Venezuela...


Konrad said...

Venezuela’s Communist Party has always opposed the “Bolivarian Revolution” for being too capitalist.

Despite Venezuela's capitalism, the West hates President Maduro because he will not grovel to the USA, or the IMF, or Israel. Maduro is friendly with Cuba, Russia, and China, and he takes loans from China. Worst of all, Maduro is not a mere puppet of Venezuela oligarchs. Therefore he is a “security threat” to the USA and the world. He is a “state sponsor of terrorism.”

Venezuela is not socialist, but neither is it neoliberal. This is unforgivable.

Regarding Venezuela’s economic problems, the video host is correct to blame the capitalist nature of Venezuela, but there are also the Western sanctions and blockade, and economic warfare in the bond markets, plus the British government's theft of Venezuela's gold, and the collusion between Venezuelan oligarchs who hate Maduro, and who have programmed the middle and upper classes to hate Maduro.

Bob Roddis said...

Venezuela follows the Nazi model of socialism, maintaining nominal private ownership with onerous government restrictions especially on pricing. This leads to massive shortages of everything. Further, consumer prices in Venezuela jumped 1,300,000 percent year-on-year in November of 2018. This occurs due to their fiat funny money system.


This system is not "capitalism". This clown is a liar, fraud and ignoramus.

The only genuinely socialist countries that have existed have been the Soviet Union and its East European satellites, Communist China and its satellites, Cuba, and also, very importantly, Nazi Germany. Mises explains that Nazi Germany was a socialist state by virtue of the existence of all-round price controls and the consequent shortages they create. In response to the existence of shortages and the economic chaos that accompanies them, the government takes control of all fundamental decisions concerning production, such as what is produced, in what quantities, by what methods, and who is to get the resulting product. Mises call such socialism, socialism on the German or Nazi pattern, to distinguish it from the obvious socialism of the Soviets, in which all means of production are openly nationalized, and which he calls socialism on the Russian or Bolshevik pattern.


Bob Roddis said...

Keynesian Noah Smith:

Meanwhile, hyperinflation has led the government — predictably — to impose price controls. Those created shortages of basic necessities, and made people turn to the much less-efficient and corrupt black market.


Another big mistake was large-scale nationalization of industry and expropriation of private property. Chavez was very fond of nationalizing both foreign- and domestically-owned businesses of all kinds. This is a sure way to wreck the private sector — if local business owners and foreign investors don’t think their property is secure, they won’t invest, and output will languish. This can cause a spiral, where the government is forced to nationalize ever more of the economy as the private sector pulls back.


Bob Roddis said...

At the end of July 2018, the National Assembly estimated that each week six Venezuelan children die of starvation. Some of the most important universities in Venezuela made a survey in 2017 (ENCOVI2017) and in that time 87% of Venezuelan households were poor; 9 of 10 Venezuelans could not pay for food; 8.2 million Venezuelans could barely afford 2 or less meals each day — meals with low nutrition and little protein; 6 out of 10 Venezuelans have lost at least 11Kg (24 pounds) of their body weight because of the lack of food. This is set to worsen as the crisis continues.


Konrad said...

I am grateful.

Every time I start to miss Franko's incoherent idiocy, Roddis offers a dose of his own, out of the goodness of his heart.

Fiat funny money.
Fiat funny money.
Fiat funny money.

I feel better already. Many thanks.

Noah Way said...

Roddis should move his bankruptcy practice to Venezuela.

Interesting fact: starvation in the U.S. is now called "food insecurity".