Socialism is terrible, just look at Capitalist Venezuela...
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...
Socialism is terrible, just look at Capitalist Venezuela...
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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.
https://tradingeconomics.com/venezuela/inflation-cpi
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.
http://www.capitalism.net/articles/What%20Is%20Interventionism.html
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.
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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.
https://www.bloomberg.com/opinion/articles/2019-01-03/venezuela-economic-collapse-has-lessons-for-america-s-socialists
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.
https://mises.org/wire/why-venezuela-starving
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.
Roddis should move his bankruptcy practice to Venezuela.
Interesting fact: starvation in the U.S. is now called "food insecurity".
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