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Re: Governments sharing the wealth with rural communities ... the crux of the problem
It never makes sense. This was one of the major issues that Hugo Chavez tackled in Venezuela when he took over in 1999. Recall that Venezuela has the highest oil reserves in the world by far. Given all the new oil technology, Venezuela can unlock those reserves a lot easier now than 30 years ago. Hugo Chavez died in 2013 and was replaced by Nicholas Maduro - a former bus driver and Hugo Chavez's hand picked successor. At first, Venezuela was the envy of the world. Recall that when Hugo Chavez took over, Venezuela was an exporter of food and manufactured goods to the region and even exported steel and pipe. Venezuela provided housing for the poor and education for everyone. By 2009, Venezuela had very little manufacturing left and was importing most of their food consumed in the nation. The oil and other wealth accumulated in the past in Venezuela allowed them to continue to live well by importing everything. By 2013, when Hugo died, inflation was very high and food was already becoming short. Now, it is 2017, millions have left Venezuela to go to other countries like Colombia and Argentina. Millions are starving in Venezuela and the only rich people left are those who are associated with the Venezuela military or are on good terms with the ruling party. Venezuela's oil production has also continued to decline even as modern technology makes it easier and cheaper to produce their oil which is mainly heavy oil. Now $1 dollar buys 31,000 Venezuela BsF. When Hugo Chavez took office, $1 dollar purchased less than 2 BsF. When the government runs things, the top few richest people control more wealth than the bottom 50% of humanity. Just as now in Venezuela, Hugo Chavez's daughter is now the richest person in Venezuela by far. Hugo Chavez and his daughter were not at all wealthy prior to Hugo Chavez's becoming Venezuela president. The difference is in socialism, the top few control all the wealth but do so under the guise of helping humanity. But the government is never better than the free market at helping humanity. That is the history lesson of the 20th and 21st century. |
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Msg # | Subject | Author | Recs | Date Posted |
8309 | Re: Governments sharing the wealth with rural communities ... the crux of the problem | The Red | 3 | 10/16/2017 10:36:28 PM |