Venezuela was praised for its forward thinking in 1998 when Chavez took power. All the usual accolades of the Socialist community were heaped upon this new forward looking leader.
Today Venezuela has hyperinflation in excess of 720%.
Citizens stand in long lines just to get basic needs, if in fact they are even available.
Many airlines no longer fly into the country because the funds paid to purchase tickets, which the country controlled and then distributed to the airlines, stopped being remitted to the airlines.
Venezuela is now openly liquidating its gold reserves while its president, in an amusing twist, announced last week, that henceforth every Friday will be a holiday, (the term there was a slightly different meaning) to cut down on electricity usage (while blaming El Nino for its electricity rationing).
In Venezuela "an economic, social and political crisis facing Maduro, Venezuela’s unpopular president, is being aggravated by a rise in violence which is prompting fears that this oil-rich country risks becoming a failed state."
Critics say that the Venezuelan government is increasingly unable to provide citizens with water, electricity, health or a functioning economy which can supply basic food staples or indispensable medicines, let alone personal safety.
This is the result of the very type of policies being proclaimed by the Democrat Party (Marxist/Progressive) including both of their candidates for president, Bernie Sanders and Hillary Clinton. This is the result of the very type of domestic policies Donald Trump has supported in the past and even publicly supports today; Tarp, Stimulus, nationalizing the banks, and government health care.
Socialism, regardless of the adjective you use to describe it, always ends in failure. It can end no other way. Socialism is anti-economic growth, innovation, and opportunity. Let’s not go there.