Only a socialist regime could drive a nation with massive oil reserves into the ground to such a massive extent.
Socialism has failed over and over and over again. And yet, people still keep trying it.
The collapse of Venezuela’s economy should be the most obvious example yet that socialism is simply unworkable.
Venezuela has the largest proven oil reserves on earth. They should be a rich country – or at the very least a middle-income country.
Instead, their economy has totally collapsed, and the human toll is horrendous.
As noted by Axios, “Doctors are seeing record numbers of children with severe malnutrition. Hundreds have died.”
The reports out of the country sound like something out of a total nightmare:
“For many low-income families, the crisis has completely redrawn the social landscape. Parents … go days without eating, shriveling to the weight of children themselves. Women line up at sterilization clinics to avoid having children they can’t feed. Young boys leave home and join street gangs to scavenge for scraps … Crowds of adults storm Dumpsters after restaurants close. Babies die because it is hard to find or afford infant formula, even in emergency rooms.”
It can’t be repeated enough: This is happening in a country with the largest oil reserves on earth.
This is what socialism does.
While it gets dressed up as an ideology about increasing equality, it ends up achieving the opposite. The vast majority of people become poor and oppressed, while the political elites become massively rich.
Venezuela’s political leaders are well-fed and well-taken care of. Their power and their privileges have only expanded as their people suffer horribly.
They have suppressed opposition, jailed political opponents, killed protesters, and turned their constitution into a joke.
This is the inevitable result of full-blown socialism, because it is an ideology based upon concentrating power in a small ruling elite, while denying everybody else the opportunity to prosper or hold the government accountable.
Of course, it’s no coincidence that most of the elites in the western world are unwilling to ever mention the ideology that is driving the chaos in Venezuela: Socialism.
After all, our own “leaders” are seeking to expand the role and power of government, concentrate power in a small ruling elite, and then hide that agenda behind a nice-sounding name (inclusion, political correctness, progressivism, etc.)
Additionally, they are driving up our debt and putting our economy in a more fragile position, leading to a painful reckoning on the horizon.
That’s why Venezuela is not just a disaster for us to watch from afar. It is also a warning about the danger of centralized government and fiscal irresponsibility, and it’s a warning we must not ignore.