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Venezuela: a Nation Devoured by Socialism

Rich Lowry writes: Venezuela is a woeful reminder that no country is so rich that it can’t be driven into the ground by revolutionary socialism.

People are now literally starving — about three-quarters of the population lost weight last year — in what once was the fourth-richest country in the world on a per-capita basis. A country that has more oil reserves than Saudi Arabia is suffering shortages of basic supplies. Venezuela now totters on the brink of bankruptcy and civil war, in the national catastrophe known as the Bolivarian Revolution.

The phrase is the coinage of the late Venezuelan strongman Hugo Chavez, succeeded by the current Venezuelan strongman Nicolas Maduro. The Western Hemisphere’s answer to Recep Tayyip Erdogan of Turkey, Maduro has instituted an ongoing self-coup to make his country a one-party state.

The Chavistas have worked from the typical Communist playbook of romanticizing the masses while immiserating them. Runaway spending, price controls, nationalization of companies, corruption and the end of the rule of law — it’s been a master class in how to destroy an economy.

The result is a sharp, yearslong recession, runaway inflation and unsustainable debt. The suffering of ordinary people is staggering, while the thieves and killers who are Chavista officials have made off with hundreds of billions of dollars. At this rate — The Economist calls the country’s economic decline “the steepest in modern Latin American history” — there will be nothing left to steal.

[Read the full story here, at New York Post]

Any government in a democratic country that failed this spectacularly would have been relegated to the dustbin of history long ago. Maduro is getting around this problem by ending Venezuela’s democracy.

The Chávistas slipped up a year or two by allowing real elections for the country’s National Assembly, which were swept by the opposition. They then undertook a war against the assembly, stripping it of its powers and culminating in a rigged vote this week to elect a constituent assembly to rewrite the constitution. The opposition boycotted the vote, and outside observers estimate less than 20 percent of the electorate participated. Read the rest of this entry »

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Nicolás Maduro es Encantador y Persuasivo! Venezuelan President Nicolás Maduro Threatens to Jail Opponents

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Caracas (AFP) – Venezuela‘s President Nicolas Maduro threatened on Friday to jail his political opponents if they follow through on their vow of launching a legislative trial to remove him from power.

Shrugging off a partially-observed strike which the opposition called to raise pressure on him, the socialist president went on the counterattack.

Maduro sharpened the tone in a volatile political and economic crisis that has sparked food shortages and riots in the South American oil producer.

“If they launch a supposed political trial, which is not in our constitution, the state prosecution service must bring legal action in the courts and put in jail anyone who violates the constitution, even if they are members of Congress,” Maduro said in a speech Friday.

Friday’s strike was called after authorities blocked a bid by the center right-dominated MUD coalition to hold a referendum on removing Maduro from power.

After that move, the crisis heated up this week. Opposition lawmakers vowed to put Maduro on trial and exchanged accusations of coup-mongering with the mustachioed president.

Friday’s strike seemed to be only partially observed.

In the capital Caracas and cities such as Maracaibo and San Cristobal, the streets were quieter than normal but public transport was running and banks and some schools opened as usual.

Clashes broke out in recent days between riot police and pro- and anti-government protesters around the country.

Maduro earlier threatened to break the strike by sending the army to take over firms that took part in it.

The center-right coalition’s latest move to pressure the unpopular leftist leader came after anti-government protests drew hundreds of thousands of people on Wednesday.

Maduro vowed to respond forcefully. Read the rest of this entry »