4 ms·

Venezuela is on the brink of a complete economic collapse

30 points by temp 11y ago

AI_Overlord 11y ago
And here in the USA we have our own chavez, Donald Trump. It Is really incredible how an incompetent, corrupt and criminal leader can destroy a country. I can see the potential for something like that happening here with Donald Trump. Bush already did manage to screw the country with his policies. Imagine how bad it would be under trump.
- mudil 11y ago
  I think that Bernie, as a self-proclaimed socialist, would pursue Chavez-like policies, not Trump.
  - AI_Overlord 11y ago
    First of all, Wow! So many downvotes. I dare anybody to say that wha I said is untrue. My comparison with chavez and trump has more to do with character. Both would say anything to get elected and blame everybody else for their problems. Horrible politicians without any principles.
    - zo1 11y ago
      Downvotes probably because, as much as I see people disliking Donald Trump here, we simply disagree with your comparison.
Dowwie 11y ago
can anyone fact check this claim? "Chávez turned the state-owned oil company from being professionally run to being barely run. People who knew what they were doing were replaced with people who were loyal to the regime, and profits came out but new investment didn't go in"
- Havoc 11y ago
  Fact check no, but it does sound vaguely familiar. Can't quite place it though.
- refurb 11y ago
  Do a Google search. When Chavez came in he nationalized a number of oil companies. Those companies left the country and took a lot of people with them. When oil prices started to drop, he cut spending on maintenance.
- ipince 11y ago
  Towards the end of 2002, there was a general strike in Venezuela, where, most importantly, a large percentage of PDVSA's workforce was on strike and oil production basically halted. Chavez went ahead and fired 18,000 people (skilled oil industry workers) after the strike in one fell swoop. Those workers were replaced with workers loyal to the regime. Basically, everyone who opposed the government was fired from PDVSA. Many of those skilled fired employees found themselves unable to work and left Venezuela to other countries, notably Colombia, which later experience a surge in its oil industry. Source: I'm Venezuelan... But here's an article that talks about this: http://www.economist.com/news/americas/21607824-venezuelas-loss-thousands-oil-workers-has-been-other-countries-gain-brain-haemorrhage http://www.economist.com/news/americas/21607824-venezuelas-l...
obrero 11y ago
Hugo Chávez has been dead for three years, and the Venezuelan parliament is controlled by right wing parties. Obviously economic problems of today are attributable to someone buried three years ago, not the right wing parties who control the parliament today. It's interesting how Venezuela's economic problems started with Chávez. How did Chávez come to power? If you look at the history of Venezuela from World War II on, you see a lot of economic problems. Chávez was elected because of the economic mess his predecessor presided over. Chávez died in the spring of 2013. Oil prices began diving in mid-2014. I don't fully blame the right wing parties which control the Venezuelan parliament for their economic problems - they're dealing with a problem all oil-producing countries are dealing with right now. The plunge in oil prices since mid-2014. For how long is the Washington Post and the right wing parties controlling Venezuela's congress going to blame the three year gone Chávez for Venezuela's economic problems?
- hnamazon123 11y ago
  According to Wikipedia the ruling party in Venezuela is the PSUV (the United Socialist Party of Venezuela). What are you on about?
- BurningFrog 11y ago
  The parliament elections were in December, and the regime is still fighting the new majority. http://www.latimes.com/world/mexico-americas/la-fg-venezuela-parliament-court-20160111-story.html http://www.latimes.com/world/mexico-americas/la-fg-venezuela... Even so, the executive branch is firmly in control of the Chavistas.
- ipince 11y ago
  I don't want to engage in this discussion, because it's opening a can of worms. I just want to point out that this "right wing party" (which isn't really right wing as the government would have you believe) has been controlling parliament for 24 days. 24 days. The PSUV (or more factually accurate, Chavez and his supporters) have been in power for the last 17 years. You decide who is responsible for this situation.
- temp 11y ago
cordite 11y ago
Venezuela has a history of making companies hard to run locally. http://www.bloomberg.com/news/articles/2014-09-22/clorox-pulls-out-of-venezuela-after-price-freeze-hurts-business http://www.bloomberg.com/news/articles/2014-09-22/clorox-pul... Apparently, they tried to make bleach cost less than it takes to make it, and after shutting down, the government took over the building and started selling bleach under the Clorox name without permission or license.

30 points by temp 11y ago

And here in the USA we have our own chavez, Donald Trump. It Is really incredible how an incompetent, corrupt and criminal leader can destroy a country. I can see the potential for something like that happening here with Donald Trump. Bush already did manage to screw the country with his policies. Imagine how bad it would be under trump.

mudil 11y ago
I think that Bernie, as a self-proclaimed socialist, would pursue Chavez-like policies, not Trump.
- AI_Overlord 11y ago
  First of all, Wow! So many downvotes. I dare anybody to say that wha I said is untrue. My comparison with chavez and trump has more to do with character. Both would say anything to get elected and blame everybody else for their problems. Horrible politicians without any principles.
  - zo1 11y ago
    Downvotes probably because, as much as I see people disliking Donald Trump here, we simply disagree with your comparison.

Dowwie 11y ago

can anyone fact check this claim? "Chávez turned the state-owned oil company from being professionally run to being barely run. People who knew what they were doing were replaced with people who were loyal to the regime, and profits came out but new investment didn't go in"

Havoc 11y ago
Fact check no, but it does sound vaguely familiar. Can't quite place it though.
refurb 11y ago
Do a Google search. When Chavez came in he nationalized a number of oil companies. Those companies left the country and took a lot of people with them. When oil prices started to drop, he cut spending on maintenance.
ipince 11y ago
Towards the end of 2002, there was a general strike in Venezuela, where, most importantly, a large percentage of PDVSA's workforce was on strike and oil production basically halted. Chavez went ahead and fired 18,000 people (skilled oil industry workers) after the strike in one fell swoop. Those workers were replaced with workers loyal to the regime. Basically, everyone who opposed the government was fired from PDVSA. Many of those skilled fired employees found themselves unable to work and left Venezuela to other countries, notably Colombia, which later experience a surge in its oil industry. Source: I'm Venezuelan... But here's an article that talks about this: http://www.economist.com/news/americas/21607824-venezuelas-loss-thousands-oil-workers-has-been-other-countries-gain-brain-haemorrhage http://www.economist.com/news/americas/21607824-venezuelas-l...

obrero 11y ago

Hugo Chávez has been dead for three years, and the Venezuelan parliament is controlled by right wing parties. Obviously economic problems of today are attributable to someone buried three years ago, not the right wing parties who control the parliament today. It's interesting how Venezuela's economic problems started with Chávez. How did Chávez come to power? If you look at the history of Venezuela from World War II on, you see a lot of economic problems. Chávez was elected because of the economic mess his predecessor presided over. Chávez died in the spring of 2013. Oil prices began diving in mid-2014. I don't fully blame the right wing parties which control the Venezuelan parliament for their economic problems - they're dealing with a problem all oil-producing countries are dealing with right now. The plunge in oil prices since mid-2014. For how long is the Washington Post and the right wing parties controlling Venezuela's congress going to blame the three year gone Chávez for Venezuela's economic problems?

hnamazon123 11y ago
According to Wikipedia the ruling party in Venezuela is the PSUV (the United Socialist Party of Venezuela). What are you on about?
BurningFrog 11y ago
The parliament elections were in December, and the regime is still fighting the new majority. http://www.latimes.com/world/mexico-americas/la-fg-venezuela-parliament-court-20160111-story.html http://www.latimes.com/world/mexico-americas/la-fg-venezuela... Even so, the executive branch is firmly in control of the Chavistas.
ipince 11y ago
I don't want to engage in this discussion, because it's opening a can of worms. I just want to point out that this "right wing party" (which isn't really right wing as the government would have you believe) has been controlling parliament for 24 days. 24 days. The PSUV (or more factually accurate, Chavez and his supporters) have been in power for the last 17 years. You decide who is responsible for this situation.
temp 11y ago

cordite 11y ago

Venezuela has a history of making companies hard to run locally. http://www.bloomberg.com/news/articles/2014-09-22/clorox-pulls-out-of-venezuela-after-price-freeze-hurts-business http://www.bloomberg.com/news/articles/2014-09-22/clorox-pul... Apparently, they tried to make bleach cost less than it takes to make it, and after shutting down, the government took over the building and started selling bleach under the Clorox name without permission or license.