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  1. #1
    Lord Consul's Avatar Armchair intellectual
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    Default Ravaged by Chavism, Venezuela is nearing collapse

    Quote Originally Posted by The Economist
    THE economy is in recession but sales of at least two items are booming in Venezuela: water-storage tanks and portable generators. A country that has claimed the world’s biggest oil reserves and is home to its fourth-mightiest river, the Orinoco, has recently been forced to ration both water and electricity. Hugo Chávez, the leftist president, blames the profligacy of consumers and a drought caused by El Niño weather. Certainly, lower rainfall has cut the flow to the country’s main hydroelectric dam (which provides three-fifths of its electricity) by a tenth. But the opposition, and several independent experts, say the underlying cause is the government’s failure to plan, maintain and invest in the necessary infrastructure.

    Only a quarter of the funds budgeted for power generation have in fact been spent on it, says Víctor Poleo, who was deputy minister for electricity early in Mr Chávez’s decade in power. In 2007 the president compounded the problem by nationalising what remained of the private power industry. Since then there have been half-a-dozen national blackouts. Meanwhile, demand for electricity has grown by an annual average of 4.5%.

    Thermal plants cannot be used to take up the slack. They have been neglected. Four out of five turbines at the biggest of them, Planta Centro on the Caribbean coast, are out of action. Even José Vicente Rangel, an ultraloyal chavista and the former vice-president, was moved to ask: “What’s going on? Why haven’t urgent and drastic measures been taken?” The perception that the government has bungled is contributing to a fall in Mr Chávez’s popularity rating, now put at 46% by Datanálisis, a pollster.

    Mr Chávez has called on Venezuelans to take quicker showers. “Some people sing in the bath for half an hour,” he told a recent cabinet meeting, broadcast live. “What kind of communism is that? Three minutes is more than enough!”. It is true that Venezuelans are not thrifty by nature. But the government has hitherto done nothing to encourage them to conserve water or energy. Utility rates have been frozen for most of Mr Chávez’s time in office. The president faces crucial parliamentary elections next year and needs to woo voters. But after ten years of neglect, there is no quick fix for crumbling infrastructure. “There is no PR trick that will make the crisis go away,” says Mr Poleo.
    Venezuela's energy shortage: Losing power | The Economist

    Please provide links when pasting internet based articles -- VP

    This is what the "XXIst Century Socialist" has done to Venezuela. A country rich in oil is now facing a severe energy shortage. And this is only the tip of the iceberg. Shelves in Venezuela are empty after the government has frozen the price of "essential" goods. Oil production has fallen.

    While the Venezuelan population has to read in the dark using candles and oil lamps, Chavez showers billions of dollars on Cuba, keeping the country afloat. Yet European socialists seem to be enamoured of Colonel Chavez, seeing him as some sort of Amerindian folk hero.

    Venezuela is a disaster waiting to happen. And Obama's Department of State winks innocently, pretending not to notice and the recent crisis in Honduras was the product of heavy Venezuelan pressure on both Zelaya and Ortega.
    Last edited by Viking Prince; November 08, 2009 at 11:33 PM. Reason: added link
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  2. #2
    Monarchist's Avatar Civitate
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    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    The entire world is basically in crisis mode thanks to rats like Chavez. President Obama could at least give the outward appearance of giving a rat's behind for freedom, but he openly supports dictators like Zelaya. China will be the only nation left, laughing, after the real collapse begins, and it can hardly be far off with the idiocy these despicable men are pursuing.
    "Pauci viri sapientiae student."
    Cicero

  3. #3

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    It's fooish to to think China wont escape a US collapse. No one can.

  4. #4

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    US sanctions are no joke. Ask the dead Iraqi children.. Cubans.. Nicaragua. etccccccetccc


    http://www.globalexchange.org/countr...Zrelations.pdf
    "Between the lips and the voice something goes dying."

  5. #5

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Quote Originally Posted by Kizzang View Post
    US sanctions are no joke. Ask the dead Iraqi children.. Cubans.. Nicaragua. etccccccetccc


    http://www.globalexchange.org/countr...Zrelations.pdf
    It is chaves who chose bad relations with USA, it was Castro who made that choice, nicaragua is more complex story...

    Tell me why should USA bail out all those "antiamericans"´now???

    "antiamericanism " itself is not a solution, it is populism for teasing uneducated poor ppl but at the same time it offers no practical tools how to handle things. Antiamericanism is solution as much as "islam solves everything".
    Last edited by corpse helvetica; November 09, 2009 at 02:45 AM.

  6. #6

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Something like this is bound to happen sooner or later. Centralized economies simply don't work.
    Heir to Noble Savage in the Imperial House of Wilpuri

  7. #7

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    They do not need to be bailed out... Do you know what sanctions are? The Veneuzelan economy was doing great. He chose not to have his country run by someone else. Of course the US does not like that. And apparently that is anti-American.

    Yet Venezuela is one of the fastest growing countries in the region. Per capita income growth was a whopping
    17.9% in 2004, when the economy rebounded from the opposition’s economic sabotage.85 In 2005, Venezuelan
    per capita income growth topped 9%.86 According to a recent poll by Chilean firm Latinobarómetro,
    Venezuelans have the second highest level of satisfaction with economic progress out of 18 Latin American
    countries polled.87
    Significantly, one of the greatest achievements of the Chávez administration has been to reverse an outrageous
    historical decline in per capita income growth. According to the Center for Economic and Policy Research,
    “from 1970-1998 per capita income in Venezuela fell by 35 percent.88 This is the worst economic decline in the
    region and one of the worst in the world -- much worse even than what happened to Africa during this period.”89
    "Between the lips and the voice something goes dying."

  8. #8

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Quote Originally Posted by Kizzang View Post
    They do not need to be bailed out... Do you know what sanctions are? The Veneuzelan economy was doing great. He chose not to have his country run by someone else. Of course the US does not like that. And apparently that is anti-American.
    Who says anyone is going to be bail their ass out? Chavez needs to learn to take accountability for his own mistakes.
    Heir to Noble Savage in the Imperial House of Wilpuri

  9. #9

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Quote Originally Posted by Kizzang View Post
    They do not need to be bailed out... Do you know what sanctions are? The Veneuzelan economy was doing great. He chose not to have his country run by someone else. Of course the US does not like that. And apparently that is anti-American.
    Just a sec..

    <Searches Grand Documents of Statecraft, Vol.1,Section IV.>

    I can't find any mention where it is required that the United States, or any other country for that matter, MUST trade with another.

    If we don't agree with a country's policies, we are free to not trade with them just as any country that does not agree with ours may withdraw their trade agreements as well.

    So, Venezuela's situation is now somehow all the fault of the United States? The United States is somehow guilty of something because it exercised its freedom of choice in choosing to promote sanctions?

    I know it sounds sarcastic but, why is it that if the US makes a policy decision regarding sanctions many decry that decision yet claim, at the same time, that the withdrawal of US trade is somehow an infringement on someone else's rights?

    I have a dollar in my pocket. If I choose to not give it to someone that is my choice. If they're nice to me and friendly, I might just give it to them because I like them. If I need something from them and can buy it with that dollar, I will trade it away. If I desire their friendship and cooperation, I might just give them that dollar to demonstrate that desire. But, if someone insists I give that dollar to them, that's robbery.

  10. #10

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Quote Originally Posted by Kizzang View Post
    They do not need to be bailed out... Do you know what sanctions are? The Veneuzelan economy was doing great. He chose not to have his country run by someone else. Of course the US does not like that. And apparently that is anti-American.
    Your logic is flawed, if sanctions are so effective it means that Chavez' policy has failed: "antiamerican" state does not need to trade with USA, right?

    USA is sanctioning Cuba but it does not stop France or Germany making business there.

    corpse helvetica said they NEEDED to be bailed out.. Which is NOT the case. There seems to be some misunderstandings here. They NEED for the US to STOP intervening. Not bowing down to the US is a mistake? Allowing democracy a mistake. Not allowing another country, which is consistently giving money to the opposition and funding coups, to have its military in your country. Even if Chavez was the worst person on the planet I fail to see the justification in punishing the ENTIRE POPULATION of Venezuela for this.
    I see your point but is is not so easy....opening borders with Cuba or Venezuela means that Chavez and Castro will get very rich but population overall do not get much. A fine example is Russia: Iron curtain removed but business flows mostly through former KGB or former top bureucrats.

    Basically you're saying that USA shouldn't punish population for Chavez, very good but you're ignoring THE FACT that Chavez controls everything: he'd take that "food for population" for himself.

    A fine example is Iraq: "oil for food" went mostly to Saddam's family.
    Last edited by corpse helvetica; November 09, 2009 at 03:24 AM.

  11. #11

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Quote Originally Posted by corpse helvetica View Post
    ..USA is sanctioning Cuba but it does not stop France or Germany making business there.
    Absolutely. Many people from all over Europe go to Cuba for vacation retreats. It's a pretty popular place for some, so I've heard. That is, after all, their right and I'm happy for them. But, I'll continue to support US sanctions. I just won't insist any other Nation must agree on that issue.

  12. #12

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Funny thing that the same thing could be told for USA.

  13. #13
    Justice and Mercy's Avatar Praefectus
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    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Quote Originally Posted by BlackPirate View Post
    Funny thing that the same thing could be told for USA.
    What's that? That socialists wrecked our economy?

    Oh. Yeah, we know that.

    Quote Originally Posted by Kizzang
    The US may also be a sovereign nation but they do not have the right to manipulate the world the way they see fit.
    As a sovereign nation the US has the absolute right to manipulate the world the way we see fit.

    You do know what "sovereign" means, right?
    Last edited by Justice and Mercy; November 09, 2009 at 01:14 PM.
    The powers delegated by the proposed Constitution to the federal government are few and defined. Those which are to remain in the State governments are numerous and indefinite. The former will be exercised principally on external objects, as war, peace, negotiation, and foreign commerce; with which last the power of taxation will, for the most part, be connected. The powers reserved to the several States will extend to all the objects which, in the ordinary course of affairs, concern the lives, liberties, and properties of the people, and the internal order, improvement, and prosperity of the State. - James Madison

  14. #14

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    corpse helvetica said they NEEDED to be bailed out.. Which is NOT the case. There seems to be some misunderstandings here. They NEED for the US to STOP intervening. Not bowing down to the US is a mistake? Allowing democracy a mistake. Not allowing another country, which is consistently giving money to the opposition and funding coups, to have its military in your country. Even if Chavez was the worst person on the planet I fail to see the justification in punishing the ENTIRE POPULATION of Venezuela for this.



    edit.. The sanctions are not that simple. It is not just the US.
    Last edited by Kizzang; November 09, 2009 at 03:05 AM.
    "Between the lips and the voice something goes dying."

  15. #15

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Quote Originally Posted by Kizzang View Post
    corpse helvetica said they NEEDED to be bailed out.. Which is NOT the case. There seems to be some misunderstandings here. They NEED for the US to STOP intervening. Not bowing down to the US is a mistake? Allowing democracy a mistake. Not allowing another country, which is consistently giving money to the opposition and funding coups, to have its military in your country. Even if Chavez was the worst person on the planet I fail to see the justification in punishing the ENTIRE POPULATION of Venezuela for this.
    Who is "punishing" the people of Venezuela? Are you saying that the United States is responsible for the well-being of the people of Venezuela? If so, then we need to make room for a new State.

    I don't see how anyone that would call Chavez part of a democratically "elected" government at this point. There seems to be little remaining of the trappings of what one would considered to be "Democracy." Chavez snatches up any institution, business or industry he wants to and rules by fiat in the name of the State. The Media, which is supposed to be a medium of information for the people and a watchdog over the government in most democracies, is entirely beholden to Chavez.

    So, Chavez snatched up industry, media, hotels and whatever else he wanted under the auspices of the State and now they all suck? Chavez dumps cartloads of money out the door to aid foreign governments and now the economy is hurting? Gee, who would have thought that would ever happen?

    Don't you think that Venezuela's troubles may have a lot more to do with Venezuela's government than it does with the United States?

    I have nothing against Venezuela. But, I don't like Chavez. I don't like his posturing. I don't like his attitude and I especially don't like his insulting statements. So, I support the United States in not liking him either.

  16. #16

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Quote Originally Posted by Kizzang View Post
    corpse helvetica said they NEEDED to be bailed out.. Which is NOT the case. There seems to be some misunderstandings here. They NEED for the US to STOP intervening. Not bowing down to the US is a mistake? Allowing democracy a mistake. Not allowing another country, which is consistently giving money to the opposition and funding coups, to have its military in your country. Even if Chavez was the worst person on the planet I fail to see the justification in punishing the ENTIRE POPULATION of Venezuela for this.



    edit.. The sanctions are not that simple. It is not just the US.
    I don't know about the reasons why the US had them sanctioned, whether its because Chavez was against the economic interests the US had in the region or some other reason.

    But my, and most other people's problem with Chavez, is that is too autocratic and his concentration of power over the country's economy is going to seriously blunt growth and the ability to adapt and heal in ever changing markets. Plus if he continues to sever ties to practically every foreign banking insitution or trade proposals then he's going to make his country just like Cuba. Economically and diplomatically isolated.

    I'm well aware of the US' general unfairness towards that continent as a whole, but it doesn't mean that Chavez is right.
    Heir to Noble Savage in the Imperial House of Wilpuri

  17. #17

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Like I just said it is not just the US. I still fail to see the justification in punishing entire nations for supposedly what one person is doing. We are still trading with them as well. Oil. Petroleum. They just are not allowed anything they need. No aid. No World Bank, IMF.. No loans.

    You should check that pdf you quoted.... Sources for everything there..

    Crude Oil Imports (Top 15 Countries)
    (Thousand Barrels per Day)
    Country Aug-09 Jul-09 YTD 2009 Aug-08 YTD 2008
    CANADA 2,007 2,110 1,928 1,873 1,926
    MEXICO 1,057 985 1,126 1,292 1,209
    VENEZUELA 1,007 865 1,014 1,146 1,049
    http://www.eia.doe.gov/pub/oil_gas/p...nt/import.html
    Democracy
    To understand democracy in Venezuela, it is important to put the country’s political development in historical
    context. In 1958, the two dominant political parties of the time, Acción Democrática (AD) and the Christian
    Democrats (COPEI) created what is called the agreement of Punto Fijo. This system of “pacted democracy”
    shut all other political parties out of participation, and created a system of patronage and high levels of
    corruption. In addition, the economic policies followed by the parties of the Punto Fijo resulted in a massive
    economic failure of a 35% decrease in growth, as noted above. This “representative democracy” resulted in a
    massive marginalization of the vast majority of the country from the political process; yet during this time,
    Venezuela was one of the US’s strongest allies in the region.
    Spoiler Alert, click show to read: 

    This context of social, political, and economic polarization created the political space for a new vision of the
    country based on social equality, political participation, and economic development that gave birth to the
    Bolivarian project. This explains why one of its first projects, after electing Hugo Chávez as president with
    59% of the vote in 1998, was a re-founding of the Republic with the drafting of a new Constitution. While US
    media often refer to this process as “Chávez rewrote the Constitution in 1999,” from a quick examination one
    can see that the new Constitution was approved in one of the most democratic processes in the history of Latin
    America. 57
    Soon after Chávez took office, a popular referendum was organized in April of 1999, in which 88% of the
    electorate voted in favor of developing a new Constitution.58 Another election was held in which the Constituent
    Assembly was popularly elected – which included voices from traditionally marginalized communities, such as
    Venezuela’s Indigenous populations and representatives from the country’s poorest barrios, as well as from
    vocal opponents of the Chávez administration. Then after months of deliberations, in December 1999, the new
    Constitution was approved by the voters, garnering 72% of popular approval in a referendum.59
    Under the new Constitution, the Venezuelan government is divided into five branches of power: the executive;
    the legislative; and the judiciary; as well as the electoral power, comprised of the National Electoral Council
    (CNE); and the citizen power branch, comprised of the attorney general, the ombudsman, and the comptroller
    general.
    Venezuelan elections have been subject to regular monitoring by international observers, who have regularly
    found Venezuelan elections to be “free and fair” according to widely held democratic standards. The CNE has
    instituted a wide range of new policies to ensure a free and fair election, such as universal implementation of
    electronic voting machines with a paper trail that can be easily monitored and verified; cleaning up the electoral
    rolls to ensure that deceased persons do note cast ballots,60 and increasing the number of voting stations in poor
    areas that were previously underserved based on their population.
    Other efforts at ensuring universal access to democracy include Venezuela’s massive education campaigns,
    detailed below, which have taught over 1.5 million how to read and write, affording new access to political
    participation for previously illiterate adults. In addition, Venezuela has naturalized millions of immigrants,
    many of whom had lived in Venezuela for decades, but whom had previously faced enormous political and
    bureaucratic barriers to citizenship. And Venezuela has embarked upon a massive campaign to ensure that all
    citizens posses the proper identification cards, 61 which has massively increased access to voting.
    Regarding the legislative branch, up until December 2005, the opposition held 48% of seats, and the parties
    aligned with the Chávez’s party, the MVR, held a slim majority of 52%. Elections for the National Assembly
    were held on December 4, 2005. Polls heading towards the elections showed the parties aligned with the
    government holding a strong lead over candidates aligned with the opposition political parties, which were only
    expected to take about 25% of the seats. This is not that surprising, considering that the opposition’s primary
    political platform has focused on the fact that it is “not-Chávez,” and President Chávez is one of the most
    popular leaders in Latin America.
    Opposition leadership made demands that the CNE change certain policies, stating that they would not
    participate unless their demands were met. Their greatest concerns was the practice of using fingerprint-reading
    machines at the polls, because they alleged that the government was somehow getting access to citizen’s voting
    records. The OAS negotiated with the CNE, which had implemented the fingerprint reading machines as an
    anti-fraud measure, and the CNE agreed to accommodate the opposition and discontinue their use, after which
    the OAS affirmed that it “expects that all institutions, in respecting the commitments they have assumed, the
    guarantees offered, and the existing laws, contribute to the realization of successful elections on December 4”.62
    But in the end, despite their demands for participation having been met, the opposition parties boycotted the
    election.63 Candidates aligned with the government swept the legislature, and the MVR in particular picked up
    114 of the 167 seats.64 While there are certainly a sizeable number of people who oppose the Chávez
    administration, the political leadership of the opposition has now ceased, of their own accord, to have an
    organized political presence.
    US officials have also repeatedly accused Chávez of undermining judiciary independence for carrying out a
    judicial reform in late 2004. Most commentary in the US imply that the problems of the Venezuelan judiciary
    either emerged under the Chávez government or are worse under the Chávez government than under previous
    administrations, or, more perniciously, are an attempt to subjugate the judiciary to the executive branch of
    government. An extensive analysis of the realities of judicial reform in Venezuela found none of these to be the
    case.65
    In fact, is widely recognized that Venezuela’s judicial system had very low credibility prior to the Chávez
    government.66 In addition, the Supreme Court in 2002 ruled that members of the top military command who
    had participated in the coup could not be tried for orchestrating the coup, because a coup had not taken place,
    evidencing a clear bias towards the opposition.
    In response to these deficiencies, the National Assembly passed a judicial reform law in 2004, for which US
    officials accuse the Venezuelan government of “stacking the courts”. The new law allows the National
    Assembly to appoint the new judges with a simple majority instead of a two-thirds majority, when the
    legislature has failed to achieve a two-thirds majority after three attempts. Approval by a simple majority is not
    unusual by international standards, such as in the US. The law also created certain streamlining reforms in the
    judicial system, including making the judicial system more “modern and efficient.”67 In addition, the law
    expands the number of justices on the Supreme Court from 20 to 32, a change that was made necessary by the
    new Constitution, which placed additional demands on the Supreme Court.
    In addition to creating five branches of power, the new Constitution added “participatory” and “protagonist”
    democracy to Venezuela’s representative democracy. Venezuelans often carry their Constitution in their
    pockets and quote from it regularly; copies of it, and various laws, are available on many street corners along
    with baseball caps and phone cards. In a practical sense, this new participatory democracy has resulted in a
    massive participation of the majority of citizens in the social missions, described in detail below; higher levels
    of participation in voting; and mandates that varying percentages of state and regional budgets must be set aside
    for citizen-initiated “participatory budget” projects. This new sense of empowerment is palpable among the
    poor in Venezuela, yet is rarely commented upon in the media.
    Commitment to democracy by the opposition has unfortunately not been as marked. In addition to carrying out
    a coup in 2002, an oil sabotage in 2002-2003, and amidst calls to violence by many sectors of the opposition,68
    certain elements of the political leadership of the opposition have still refused to recognize the results of the
    referendum, including Súmate, the “electoral watchdog” that has received funding from the National
    Endowment for Democracy. In addition, while the government repeatedly campaigns for the importance of all
    citizens to vote, the opposition has called for electoral boycotts that drive down citizen participation in the
    electoral system, most notable in the legislative elections of December 2005.69
    It might also seem important to keep in perspective how Venezuelans view their own democracy. According to
    the 2005 poll of Chilean polling firm Latinobarómetro, enthusiasm for democracy has declined throughout the
    hemisphere, due to the failure of many elected governments to curb crime or decrease poverty. However,
    Venezuela has resisted this trend. In fact, Venezuelans are more likely than citizens of the other 18 Latin
    American nations polled to describe their government as “totally democratic.” With a regional average of only
    5.5, Venezuelans gave their government a high 7.6 on a scale of 1 to10. And in a crucial response, Venezuelans
    have the second highest level of satisfaction with the way their own democracy functions.70
    It should not go unnoticed that the five countries whose citizens rated the “level of democracy” in their country
    the lowest (less than 5 on a scale of 1 (not democratic) to 10 (totally democratic)), three have just signed Free
    Trade Agreements with the US (Peru, Guatemala, and Nicaragua); one is in negotiations for an FTA (Ecuador);
    and another just became the site of a Marine contingent (Paraguay.) So it does not appear that a country’s
    citizen’s own considerations about their own democracy weigh in heavily on the Administration’s view about
    that country, but rather, that a countries that receive a democratic stamp of approval correlate highly with those
    that agree to US foreign policy goals in the region, particularly the promotion of the neoliberal economic model
    and military cooperation.
    Venezuelan democracy, like all democracies, is a work in progress with many strengths, and many weaknesses.
    But it Venezuela’s five distinct branches of government, traditional checks and balances, educated population,
    empowered citizenry, and energetic social debate offer its citizens a more vibrant democracy than many
    countries could boast.
    Long quoted articles, multiple videos, and large pictures should be posted in spoilers. -- VP
    Last edited by Viking Prince; November 09, 2009 at 05:30 AM.
    "Between the lips and the voice something goes dying."

  18. #18

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Quote Originally Posted by Kizzang View Post
    Like I just said it is not just the US. I still fail to see the justification in punishing entire nations for supposedly what one person is doing.
    It's called "Being Internationally Unpopular" in regards to Chavez. So, if Chavez is the Leader and continues to institute Chavism then, other countries are allowed not to like him, right? If the Venezuelan people like him and continue to support him then, obviously, they don't care about what anyone else thinks. That's fine too. I applaud their exercise of their own personal political Freedom even though I doubt it's validity.

    So, if they support a guy nobody likes well.. /shrug

    We are still trading with them as well. Oil. Petroleum. They just are not allowed anything they need. No aid.
    No aid?

    Aid to Venezuela

    You can find other sources of aid to Venezuela besides that one. However, what about Venezuela's "Aid" to other countries??? Wouldn't Chavez's money be better spent aiding his own people than shelling out millions to other countries in an effort to compete with the United States in that aspect? He's constantly trying to "one-up" the United States and his people are paying for his own ego.

    No World Bank, IMF.. No loans.
    !!

    Huh?

    Who is responsible for Venezuela's problems with the World Bank and IMF?

    Venezuela quits IMF and World Bank

    "The Venezuelan president, Hugo Chávez, today severed ties with the World Bank and the International Monetary Fund.

    In doing so he distanced Caracas further from what he described as Washington-dominated institutions.

    The populist leader, who took office pledging to pursue radical political reform and an economic "third way", said yesterday that Venezuela no longer needed institutions "dominated by US imperialism".

    Speaking at a May Day event, Mr Chávez said: "We don't need to be going up to Washington ... We are going to get out. I want to formalise our exit from the World Bank and the International Monetary Fund."

    Venezuela has been loosening its ties to the IMF and the World Bank since Mr Chávez took office in 1999. Venezuela recently repaid its debts to the World Bank five years ahead of schedule. In doing so it saved $8m (£3.99m) and cleared all its debts to the IMF shortly after Mr Chávez was elected.

    The IMF closed its offices in Venezuela late last year. Mr Chávez intends to set up a new lending institution run by Latin American countries called the Bank of the South. He has pledged to support it with Venezuela's booming oil revenues....

    Mr Chávez said the takeover marked the end of an era of Washington-dictated policies and returned Venezuelan resources to national control.
    "The wheel has turned full circle," he said."


    Oh, yes.. I see. IT'S ALL AMERICA'S FAULT! It's so obvious now! How could I have been so blind!

    Don't feel bad. Propaganda works because people want to believe it. Chavez is driving his country off a cliff in order to satisfy his own ego.

    You wonder why the US doesn't like Chavez? It's pretty easy to see, really. He's an idiot. He's running his own country into the ground. He is taking over industry, ruining the economy and destroying international relations. The ONLY thing that is keeping Chavez in power is the fact that Venezuela has a constant revenue stream coming in from oil exports. Otherwise, he would have been hauled out of his office by angry mobs by now.

    Chavez is Venezuela's problem, not the United States.

  19. #19

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Well what ever works for you I guess. If you are fine with people dying because they upset the US, or did not comply with THEIR best interests as opposed to that supposed "sovereign" nations own interests.. That's cooooo.
    "Between the lips and the voice something goes dying."

  20. #20

    Default Re: Ravaged by Chavism, Venezuela is nearing collapse

    Quote Originally Posted by Kizzang View Post
    Well what ever works for you I guess. If you are fine with people dying because they upset the US, or did not comply with THEIR best interests as opposed to that supposed "sovereign" nations own interests.. That's cooooo.
    Venezuela is a sovereign nation. So is the United States. Venezuela supports Chavez as a leader. The United States, and a good many other Nations, doesn't particularly like Chavez. So, the United States has no reason to favor Venezuela.

    It's not personal. It has nothing to do with the people of Venezuela. But, as long as they support Chavez and as long as Chavez continues to act like a moron, the United States simply isn't going to desire to have anything to do with him other than the barest of necessities of international relations.

    Chavez is ruining his own country and doing all he can to simply blame the United States for it. Well, he's isolated himself so much now that very soon no excuse focusing on the United States is going to be considered credible even amongst his staunchest supporters. Eventually, they're going to look at him and realize he's nothing more than an egotistical delusional gasbag that is ruining their country. I hope they realize it before its too late but, I have a feeling that oil money will allow him to buy a lot of public support for a good while yet.

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