The Success of Socialism: Part 8 — The New Republic calls for more socialism, just as socialism has killed Venezuela

Former Prime Minister Margaret Thatcher of the United Kingdom once said: Socialist governments traditionally do make a financial mess. They always run out of other people’s money. It’s quite a characteristic of them. They then start to nationalise everything, and people just do not like more and more nationalisation, and they’re now trying to control …

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The success of socialism: Part 7 — Venezuela is near collapse

I “know” Patrick Gillespie only due to a very brief correspondence, via Twitter personal messaging, after I criticized an article of his. He defended his position, but retained a courteous tone, which I appreciated. From CNN’s digital politics e-zine, State: Venezuela’s dreams are dying The tragic impact of a country’s collapse. By Patrick Gillespie | …

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The Success of Socialism: Part 6

“Socialist governments traditionally do make a financial mess. They always run out of other people’s money.” — Margaret Thatcher That was February 5, 1976. And now, 41 years later, a Socialist government, in an oil exporting country, has run out of other people’s money: Venezuela is down to its last $10 billion by Patrick Gillespie …

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The Success of Socialism: Part 5 And here I thought that socialist governments were supposed to make things better for the common people!

We have written about Venezuela’s economic crisis previously, and things are only getting worse. From CNNMoney: Venezuela’s currency is in ‘free fall’ Venezuela’s currency continues to collapse. by Patrick Gillespie | @CNNMoneyInvest | November 29, 2016: 10:30 AM ET Just in November, the bolivar has lost 55% of its value. It’s the latest sign of …

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The Success of Socialism: Part 4 — Venezuela moves further toward dictatorship The National Assembly seeks to oust President Nicolás Maduro; he will ignore the Assembly. In the end Socialism cannot survive democracy.

From The Wall Street Journal: Venezuela’s Congress Votes to Start Proceedings to Oust President Maduro Lawmakers have summoned country’s leader to respond to charges at session next week By Anatoly Kurmanaev | Updated October 25, 2016 6:48 p.m. ET CARACAS, Venezuela—Venezuela’s opposition-controlled congress voted to start proceedings to oust President Nicolás Maduro for what lawmakers …

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The Success of Socialism: Part 3 How stupid do Socialists have to be to take the world's largest oil reserves and turn them into junk?

From The Wall Street Journal: Venezuelan Oil Is Largely Staying in Ground or Going Up in Smoke By Anatoly Kurmanaev PUNTA DE MATA, Venezuela — This fading oil town has an eerie glow at night, illuminated by dozens of oil wells burning off precious oil and gas for lack of functioning equipment to process it. …

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The Success of Socialism: Part 2 Nicolás Maduro ends what was left of democracy in Venezuela

From CNNMoney: Venezuela’s food prices skyrocket as people go hungry by Patrick Gillespie and Osmary Hernandez | October 21, 2016: 9:21 AM ET Earlier this year, Venezuelans suffered through acute food shortages. Now food is starting to reappear on more and more supermarket shelves. But the prices are prohibitive for almost everyone. “The prices are …

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The Success of Socialism Will the Western left ever learn?

From CNNMoney: Venezuela’s oil giant warns of default next week by Patrick Gillespie | October 18, 2016: 11:42 AM ET Venezuela’s government-run oil giant — the country’s largest source of cash — is warning that it could default on its bonds as early as next week. Petroleos de Venezuela S.A., or PDVSA, failed to get …

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