Wednesday 13 February 2019

NYTimes: Nothing Can Prepare You for Life With Hyperinflation


Socialism = empty shelves
This article by Virginia Lopez-Glass in the New York Times gives a good feel for what it's like to live in the disaster of today's Venezuela. In a word: horrible
What it doesn't do is tell you the reason Venezuela is a horrible disaster. We're told that "mismanagement" and "corruption" have led to "hyperinflation". Sure. There's glancing mention of America being at least partly responsible via economic sanctions. Okay. 
But… but… what about the single main reason for this mismanagement and corruption and hyperinflation? What is the one word not mentioned once in these 2,000 words?
Socialism
Not once is it mentioned. Yet Socialism the immediate, direct, unequivocal and proximate cause of today's horrors in Venezuela. 
President Maduro is a Chavista. Chavez was a Socialist. Socialism is what led Chávez to nationalise the oil industry (and others) and to put fellow socialists in charge, regardless of expertise. Enter: mismanagement. Mismanagement was handled — by Chavez, then Maduro —  by putting in place even more fellow travellers. Enter: corruption. Result: shortages. Enter: price controls. Result: more shortages. Enter: hyperinflation.
ADDED: Chavez called himself a Democratic Socialist. This is relevant because the Left in America is trying to counter the charge that they are Socialist by saying “oh, no, we’re not socialists! We’re Democratic socialists! Not at all the same”.  Chavez’s ghost begs to differ. 
But none of these connections is covered in the article. 
Not a one. 
I know about this by having lived in socialist China in the seventies when the only vegetable you could get was pak choi(白菜)and everything else needed ration cards.  And I've lived in China after capitalism where you can get everything you ever wanted. The difference is stunning and is due to the difference in ideologies. Socialism vs capitalism. And in short: Socialism: bad. Capitalism: good. It really is that simple. 
But they ignore all of that in this article. 
Shame on Lopez-Glass and shame on the New York Times.
……………………
Food shortages and an unrelenting surge in prices are overwhelming Venezuelans. They could prove to be the force that spurs Maduro's exit from power.


Sent from my iPad