Well, when Chavez was elected president of Venezuela in 1998 oil was about $12 a barrel and Venezuela was one of the more prosperous countries’ in South America. Now with oil selling at nearly four times that, Venezuela is an economic basket case with a collapsing nationalized oil industry. The miracle of socialism. Nice attempt at making shit up and deflecting the real reason for the economic collapse.
Simple minds.... Read up on corruption costs in Venezuela.
Holy shit Hondo. Corruption is an characteristic of a command economy.
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Someone gets it.
So then Kuwait, Bahrain and Qatar should all be economic basket cases like Venezuela.
you might want to research Bahrain's and Qatar's oil production. It isn't much.
Kuwait is also much more diversified than you think.
Yes they are diversified now, they weren’t always so. There was nothing stopping Venezuela from diversifying their economy.
The fact that Venezuela got so much of their income from oil doesn’t explain why they are a shithole today.
You used to make $15,000/month and had $10,000/month in essential expenses. Now you make $5,000/month but have $12,000/month in essential expenses. That's what's going on in Venezuela. Yes they should have diversified their economy. Kuwait, Bahrain, and Qatar did years ago, before the price of oil collapsed. It's too late for Venezuela to diversify. Diversifying takes capital, and Venezuela doesn't have any, and because of US sanctions, their ability to get financing is damn near impossible. The only financing they can get is from Russia and China with horrible terms, and who get paid back in oil. Problem being, this oil production eats up any domestic product they receive because instead of selling it, it's being used to pay interest.
The only way Venezuela can be fixed is with a regime change, and the forgiveness of some past debt. Their oil industry will then become foreign owned, and that would force them to diversify, because their cash cow oil industry wouldn't belong to them anymore. The one problem with this is that many countries still wouldn't be go with this, because Venezuela has had prior history of nationalizing and seizing foreign companies. It would have to be tightly controlled.
But yes, Socialism sucks. Socialism is what prevented Venezuela from cutting spending when times got tough. I think they'd still be screwed, but I think the fall would have been much much slower.
What caused the Venezuelan government to increase it's borrowing and spending? Just because you make $15,000 a month doesn't require that you go out and spend $20,000 a month putting the extra $5K on a credit card.
Socialism is what caused the explosion of borrowing and spending to begin with.
Free college isn't free shit? Free health care isn't free shit? Free housing isn't free shit? Free food isn't free shit?
That's not what I said. I asked what politician is advocating the same policies that took Venezuelan down. I'd stay off Fox news and talk radio and actually learn about the issues in Venezuela.
In fact, big bad China that Trump is trying to keep from passing our economy is actually full communist. Why are you so worried about them, shouldn't their communism take them down any day?
Yeah "learn" from Hondo the same fucking moron who claims Medicare doesn't add to our deficit and that we only allow 60K a year of legal immigrants into this country each year.
I see you won't address the question either. Stop being a pussy and just screaming Venezuela like your news source does.
I did address it. A fucking moron who claims that Medicare doesn't add to our deficit has no business telling anyone else they need to educate themselves. It's like listening to marriage counseling from Scott Peterson.
So you don't want to address the question in this thread? I mean you talked about free medical and free college. Neither of which has to do with the issues in Venezuela.
Socialism is the issue in Venezuela.
Other people not so much. Do some research man. Stay off Fox news and talk radio. There's a wealth of information at your fingertips.
Fuck you and you "do your research" you fucking moron, I bury you ignorant ass here every fucking day and after I've exposed you for the dumbfuck you are you run and hide like a fucking Kunt.
Take a look at that thread where you put your head up your ass and claimed Medicare doesn't add to our deficit.
Simply being heavily reliant on oil isn't what destroyed the Venezuela economy. Massive government borrowing and spending to pay for their Socialist utopia is what destroyed them. No Socialism, and Venezuela is just fine.
Why did I know you'd go to Medicare. STFU and stay on task. Yes I misspoke on Medicare and it is what it is. There is still a trust fund for part A, so what I said was partially correct, but I forgot about part D which was unfunded.
That being said, I educated myself and understand thar issue. You still don't have a clue on Venezuela. You just hear what your news source says, think it applies to America, and rail on about it without actually educating yourself.
The core issue with Venezuela was spending more than they take in and not having and further credit when oil fell and spending didn't. Then it started the cycle. Then you try to apply free college and medical and compare it to Venezuela. Here's a new flash for you, we have a deficit spending problem in America too. Another shocker, the people you voted for and suck their balls increased the deficit the last two years in a period with an economic expansion, when the deficit should be shrinking. That's what you should be railing on, not comparing us to Venezuela when you have no fucking clue what you are talking about.
Oil failed because Venezuela being socialist seized the oil industry. They didn't know how to run it. Why would the people that do stay? This happens in every socialist takeover. History much?
Most of the ownership of business in China is owned by the government and they sure are doing fine with economic growth. HTH
After everyone in China has had who knows how many family members murdered or starved to death by the government they are pretty compliant.
Also far poorer than Venezuelans prior to socialism. They get a very small benefit from their forced labor but cracks are beginning to show with some of that wealth.
They shoot you in the head if you don't do what they say and send the bill for the bullet to your family! Fuck you are dumb!
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Someone gets it.
So then Kuwait, Bahrain and Qatar should all be economic basket cases like Venezuela.
you might want to research Bahrain's and Qatar's oil production. It isn't much.
Kuwait is also much more diversified than you think.
Yes they are diversified now, they weren’t always so. There was nothing stopping Venezuela from diversifying their economy.
The fact that Venezuela got so much of their income from oil doesn’t explain why they are a shithole today.
You used to make $15,000/month and had $10,000/month in essential expenses. Now you make $5,000/month but have $12,000/month in essential expenses. That's what's going on in Venezuela. Yes they should have diversified their economy. Kuwait, Bahrain, and Qatar did years ago, before the price of oil collapsed. It's too late for Venezuela to diversify. Diversifying takes capital, and Venezuela doesn't have any, and because of US sanctions, their ability to get financing is damn near impossible. The only financing they can get is from Russia and China with horrible terms, and who get paid back in oil. Problem being, this oil production eats up any domestic product they receive because instead of selling it, it's being used to pay interest.
The only way Venezuela can be fixed is with a regime change, and the forgiveness of some past debt. Their oil industry will then become foreign owned, and that would force them to diversify, because their cash cow oil industry wouldn't belong to them anymore. The one problem with this is that many countries still wouldn't be go with this, because Venezuela has had prior history of nationalizing and seizing foreign companies. It would have to be tightly controlled.
But yes, Socialism sucks. Socialism is what prevented Venezuela from cutting spending when times got tough. I think they'd still be screwed, but I think the fall would have been much much slower.
What caused the Venezuelan government to increase it's borrowing and spending? Just because you make $15,000 a month doesn't require that you go out and spend $20,000 a month putting the extra $5K on a credit card.
Socialism is what caused the explosion of borrowing and spending to begin with.
Free college isn't free shit? Free health care isn't free shit? Free housing isn't free shit? Free food isn't free shit?
That's not what I said. I asked what politician is advocating the same policies that took Venezuelan down. I'd stay off Fox news and talk radio and actually learn about the issues in Venezuela.
In fact, big bad China that Trump is trying to keep from passing our economy is actually full communist. Why are you so worried about them, shouldn't their communism take them down any day?
Yeah "learn" from Hondo the same fucking moron who claims Medicare doesn't add to our deficit and that we only allow 60K a year of legal immigrants into this country each year.
I see you won't address the question either. Stop being a pussy and just screaming Venezuela like your news source does.
I did address it. A fucking moron who claims that Medicare doesn't add to our deficit has no business telling anyone else they need to educate themselves. It's like listening to marriage counseling from Scott Peterson.
So you don't want to address the question in this thread? I mean you talked about free medical and free college. Neither of which has to do with the issues in Venezuela.
Socialism is the issue in Venezuela.
Other people not so much. Do some research man. Stay off Fox news and talk radio. There's a wealth of information at your fingertips.
Fuck you and you "do your research" you fucking moron, I bury you ignorant ass here every fucking day and after I've exposed you for the dumbfuck you are you run and hide like a fucking Kunt.
Take a look at that thread where you put your head up your ass and claimed Medicare doesn't add to our deficit.
Simply being heavily reliant on oil isn't what destroyed the Venezuela economy. Massive government borrowing and spending to pay for their Socialist utopia is what destroyed them. No Socialism, and Venezuela is just fine.
Why did I know you'd go to Medicare. STFU and stay on task. Yes I misspoke on Medicare and it is what it is. There is still a trust fund for part A, so what I said was partially correct, but I forgot about part D which was unfunded.
That being said, I educated myself and understand thar issue. You still don't have a clue on Venezuela. You just hear what your news source says, think it applies to America, and rail on about it without actually educating yourself.
The core issue with Venezuela was spending more than they take in and not having and further credit when oil fell and spending didn't. Then it started the cycle. Then you try to apply free college and medical and compare it to Venezuela. Here's a new flash for you, we have a deficit spending problem in America too. Another shocker, the people you voted for and suck their balls increased the deficit the last two years in a period with an economic expansion, when the deficit should be shrinking. That's what you should be railing on, not comparing us to Venezuela when you have no fucking clue what you are talking about.
Oil failed because Venezuela being socialist seized the oil industry. They didn't know how to run it. Why would the people that do stay? This happens in every socialist takeover. History much?
Most of the ownership of business in China is owned by the government and they sure are doing fine with economic growth. HTH
True...but how much growth is because of intellectual theft?
Sounds like you know. You want to provide the answer?
$14 billion annually from the US. Everybody else... who the hell knows
Cool.. What's that as a percent of their GDP?
Intellectual theft of US property alone amounts to about 1% of their GDP.
Wut? The entire GDP of China is $1.4 trillion?
Yes about 1%. I was wrong with the $14 billion figure. I heard the $14B on CNBC, but they may have been using a specific month figure. I don’t know why so wide a variance but it’s between $225 billion and $600 billion annually. So yes 1% is about right.
Again, that is the US by itself. I can’t find figures on other developed countries like Japan, UK, Germany, etc. All of which signed on to the complaint yesterday.
Ok. That number is probably high but fine I'm take it. Explain how that is the driving factor in the huge growth in China.
Instead of having to invest in R&D, you can steal it.
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Someone gets it.
So then Kuwait, Bahrain and Qatar should all be economic basket cases like Venezuela.
you might want to research Bahrain's and Qatar's oil production. It isn't much.
Kuwait is also much more diversified than you think.
Yes they are diversified now, they weren’t always so. There was nothing stopping Venezuela from diversifying their economy.
The fact that Venezuela got so much of their income from oil doesn’t explain why they are a shithole today.
You used to make $15,000/month and had $10,000/month in essential expenses. Now you make $5,000/month but have $12,000/month in essential expenses. That's what's going on in Venezuela. Yes they should have diversified their economy. Kuwait, Bahrain, and Qatar did years ago, before the price of oil collapsed. It's too late for Venezuela to diversify. Diversifying takes capital, and Venezuela doesn't have any, and because of US sanctions, their ability to get financing is damn near impossible. The only financing they can get is from Russia and China with horrible terms, and who get paid back in oil. Problem being, this oil production eats up any domestic product they receive because instead of selling it, it's being used to pay interest.
The only way Venezuela can be fixed is with a regime change, and the forgiveness of some past debt. Their oil industry will then become foreign owned, and that would force them to diversify, because their cash cow oil industry wouldn't belong to them anymore. The one problem with this is that many countries still wouldn't be go with this, because Venezuela has had prior history of nationalizing and seizing foreign companies. It would have to be tightly controlled.
But yes, Socialism sucks. Socialism is what prevented Venezuela from cutting spending when times got tough. I think they'd still be screwed, but I think the fall would have been much much slower.
What caused the Venezuelan government to increase it's borrowing and spending? Just because you make $15,000 a month doesn't require that you go out and spend $20,000 a month putting the extra $5K on a credit card.
Socialism is what caused the explosion of borrowing and spending to begin with.
If you read it to the end you’d see I said that.
I thought you were claiming that their dependence on oil is what caused their problems?
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Someone gets it.
So then Kuwait, Bahrain and Qatar should all be economic basket cases like Venezuela.
you might want to research Bahrain's and Qatar's oil production. It isn't much.
Kuwait is also much more diversified than you think.
Yes they are diversified now, they weren’t always so. There was nothing stopping Venezuela from diversifying their economy.
The fact that Venezuela got so much of their income from oil doesn’t explain why they are a shithole today.
You used to make $15,000/month and had $10,000/month in essential expenses. Now you make $5,000/month but have $12,000/month in essential expenses. That's what's going on in Venezuela. Yes they should have diversified their economy. Kuwait, Bahrain, and Qatar did years ago, before the price of oil collapsed. It's too late for Venezuela to diversify. Diversifying takes capital, and Venezuela doesn't have any, and because of US sanctions, their ability to get financing is damn near impossible. The only financing they can get is from Russia and China with horrible terms, and who get paid back in oil. Problem being, this oil production eats up any domestic product they receive because instead of selling it, it's being used to pay interest.
The only way Venezuela can be fixed is with a regime change, and the forgiveness of some past debt. Their oil industry will then become foreign owned, and that would force them to diversify, because their cash cow oil industry wouldn't belong to them anymore. The one problem with this is that many countries still wouldn't be go with this, because Venezuela has had prior history of nationalizing and seizing foreign companies. It would have to be tightly controlled.
But yes, Socialism sucks. Socialism is what prevented Venezuela from cutting spending when times got tough. I think they'd still be screwed, but I think the fall would have been much much slower.
What caused the Venezuelan government to increase it's borrowing and spending? Just because you make $15,000 a month doesn't require that you go out and spend $20,000 a month putting the extra $5K on a credit card.
Socialism is what caused the explosion of borrowing and spending to begin with.
If you read it to the end you’d see I said that.
I thought you were claiming that their dependence on oil is what caused their problems?
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Yes it is. 95% of their income got cut by 75%. But they also couldn’t stop giving entitlements. Both combined and you have hyperinflation and a complete meltdown. A perfect storm
Without the oil price drop they could have gone another 20-30 years on their continued spending.
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Someone gets it.
So then Kuwait, Bahrain and Qatar should all be economic basket cases like Venezuela.
you might want to research Bahrain's and Qatar's oil production. It isn't much.
Kuwait is also much more diversified than you think.
Yes they are diversified now, they weren’t always so. There was nothing stopping Venezuela from diversifying their economy.
The fact that Venezuela got so much of their income from oil doesn’t explain why they are a shithole today.
You used to make $15,000/month and had $10,000/month in essential expenses. Now you make $5,000/month but have $12,000/month in essential expenses. That's what's going on in Venezuela. Yes they should have diversified their economy. Kuwait, Bahrain, and Qatar did years ago, before the price of oil collapsed. It's too late for Venezuela to diversify. Diversifying takes capital, and Venezuela doesn't have any, and because of US sanctions, their ability to get financing is damn near impossible. The only financing they can get is from Russia and China with horrible terms, and who get paid back in oil. Problem being, this oil production eats up any domestic product they receive because instead of selling it, it's being used to pay interest.
The only way Venezuela can be fixed is with a regime change, and the forgiveness of some past debt. Their oil industry will then become foreign owned, and that would force them to diversify, because their cash cow oil industry wouldn't belong to them anymore. The one problem with this is that many countries still wouldn't be go with this, because Venezuela has had prior history of nationalizing and seizing foreign companies. It would have to be tightly controlled.
But yes, Socialism sucks. Socialism is what prevented Venezuela from cutting spending when times got tough. I think they'd still be screwed, but I think the fall would have been much much slower.
What caused the Venezuelan government to increase it's borrowing and spending? Just because you make $15,000 a month doesn't require that you go out and spend $20,000 a month putting the extra $5K on a credit card.
Socialism is what caused the explosion of borrowing and spending to begin with.
If you read it to the end you’d see I said that.
I thought you were claiming that their dependence on oil is what caused their problems?
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Yes it is. 95% of their income got cut by 75%. But they also couldn’t stop giving entitlements. Both combined and you have hyperinflation and a complete meltdown. A perfect storm
Without the oil price drop they could have gone another 20-30 years on their continued spending.
Damn those market conditions Fucking up all the socialist paradises!!
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Someone gets it.
So then Kuwait, Bahrain and Qatar should all be economic basket cases like Venezuela.
you might want to research Bahrain's and Qatar's oil production. It isn't much.
Kuwait is also much more diversified than you think.
Yes they are diversified now, they weren’t always so. There was nothing stopping Venezuela from diversifying their economy.
The fact that Venezuela got so much of their income from oil doesn’t explain why they are a shithole today.
You used to make $15,000/month and had $10,000/month in essential expenses. Now you make $5,000/month but have $12,000/month in essential expenses. That's what's going on in Venezuela. Yes they should have diversified their economy. Kuwait, Bahrain, and Qatar did years ago, before the price of oil collapsed. It's too late for Venezuela to diversify. Diversifying takes capital, and Venezuela doesn't have any, and because of US sanctions, their ability to get financing is damn near impossible. The only financing they can get is from Russia and China with horrible terms, and who get paid back in oil. Problem being, this oil production eats up any domestic product they receive because instead of selling it, it's being used to pay interest.
The only way Venezuela can be fixed is with a regime change, and the forgiveness of some past debt. Their oil industry will then become foreign owned, and that would force them to diversify, because their cash cow oil industry wouldn't belong to them anymore. The one problem with this is that many countries still wouldn't be go with this, because Venezuela has had prior history of nationalizing and seizing foreign companies. It would have to be tightly controlled.
But yes, Socialism sucks. Socialism is what prevented Venezuela from cutting spending when times got tough. I think they'd still be screwed, but I think the fall would have been much much slower.
What caused the Venezuelan government to increase it's borrowing and spending? Just because you make $15,000 a month doesn't require that you go out and spend $20,000 a month putting the extra $5K on a credit card.
Socialism is what caused the explosion of borrowing and spending to begin with.
If you read it to the end you’d see I said that.
I thought you were claiming that their dependence on oil is what caused their problems?
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Yes it is. 95% of their income got cut by 75%. But they also couldn’t stop giving entitlements. Both combined and you have hyperinflation and a complete meltdown. A perfect storm
Without the oil price drop they could have gone another 20-30 years on their continued spending.
If you got rid of the socialism and only had a cut in the price of oil would they be the basket case they are today?
More than half of millennials have a positive view of socialism. You’ve already lost.
Young people are generally more progressive and skew more conservative as they age. Probably has to do with having to pay more in taxes, accumulating more wealth, and gaining experience watching government fail as they age.
I've been hearing about the demographic tidal wave shift to progressiveness for more than 20 yrs.
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Someone gets it.
So then Kuwait, Bahrain and Qatar should all be economic basket cases like Venezuela.
you might want to research Bahrain's and Qatar's oil production. It isn't much.
Kuwait is also much more diversified than you think.
Yes they are diversified now, they weren’t always so. There was nothing stopping Venezuela from diversifying their economy.
The fact that Venezuela got so much of their income from oil doesn’t explain why they are a shithole today.
Venezuela used to be the breadbasket of South America and a net exporter of food and other goods. Mysteriously, after the implementation of socialismo, their industries have shrunk and they've become net importers of basically everything except for one natural resource.
More than half of millennials have a positive view of socialism. You’ve already lost.
Young people are generally more progressive and skew more conservative as they age. Probably has to do with having to pay more in taxes, accumulating more wealth, and gaining experience watching government fail as they age.
I've been hearing about the demographic tidal wave shift to progressiveness for more than 20 yrs.
Really? Aging boomers voted for trump because they can’t compete in today’s world and demand government intervention (tariffs nativism, and economic protectionism). The voting preference of today’s old fucks is wealth transfer and activist government intervention. They have no preference at all for “conservatism”
Sounds like you “hearing” from the same people telling you that impeachment is coming any day now.
More than half of millennials have a positive view of socialism. You’ve already lost.
Young people are generally more progressive and skew more conservative as they age. Probably has to do with having to pay more in taxes, accumulating more wealth, and gaining experience watching government fail as they age.
I've been hearing about the demographic tidal wave shift to progressiveness for more than 20 yrs.
Really? Aging boomers voted for trump because they can’t compete in today’s world and demand government intervention (tariffs nativism, and economic protectionism). The voting preference of today’s old fucks is wealth transfer and activist government intervention. They have no preference at all for “conservatism”
Sounds like you “hearing” from the same people telling you that impeachment is coming any day now.
I've been "hearing" from the boareds "liberals" how impeachment is coming any day now. That's still the case last I checked the Tug. What's changed?
It's a fair point about the changing faces of American politics, both parties have swerved towards populist "economics". It's still the same old Dixiecrats voting for nativism & protectionism they're just boomer republicans now.
Comments
Socialism is what caused the explosion of borrowing and spending to begin with.
Also far poorer than Venezuelans prior to socialism. They get a very small benefit from their forced labor but cracks are beginning to show with some of that wealth.
They shoot you in the head if you don't do what they say and send the bill for the bullet to your family! Fuck you are dumb!
https://www.foxnews.com/world/venezuelan-women-sell-hair-sex-and-breast-milk-to-survive-as-country-crumbles
Socialism is awesome!
The Throbber endorses the brand of Norwegian socialism that produces smoking hot women.
Brb need to think it over
Venezuela is what you get when 95% of your country's economy is reliant on a single resource.
Without the oil price drop they could have gone another 20-30 years on their continued spending.
I've been hearing about the demographic tidal wave shift to progressiveness for more than 20 yrs.
Totally unrelated according to Hondo.
One day you got oil the next you can't buy toilet paper
Who comes up with these stupid fucking arguments?
Sounds like you “hearing” from the same people telling you that impeachment is coming any day now.
It's a fair point about the changing faces of American politics, both parties have swerved towards populist "economics". It's still the same old Dixiecrats voting for nativism & protectionism they're just boomer republicans now.