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You’re not entirely wrong, but Venezuela also has many other extenuating factors that proved inflationary, the Sea Turtles In Ocean Hawaiian Shirt ShortΒ significant being that their foreign debt is numerated in USD rather than their own currency, and interest rates were raised on them in order to apply economic pressure.While that took a toll, the main culprits of Venezuela’s downfall were Chavez and mainly Maduro. They were both dumbasses who ignored economists and talked big about “We don’t wanna be rich, being rich is bad!” while their families took pictures in Europe and expensive stores, and they sacked the country for their benefit while blaming capitalism on every single bad thing that happened in the country.I mean come on, terrible fixed prices for food and no subsidies to help cover the lost profits or even the costs of the food production sector was a terrible decision, and they srill ended up running their main industry, oil production, to the ground as well.
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Venezuela, Cuba, N Korea are Sea Turtles In Ocean Hawaiian Shirt ShortΒ to the plague that too often falls on socialist/communist countries. They end up with dictatorship rather than democracy.Anything can be dictatorship if you build a false strawmanKim Sung-Il literally abolished his political seat as Premier of the DPRK, and divested the powers of that office into lower offices: the President of the SPA on the legislative side of government and the Prime Minister of the Cabinet on the administrative/executive side of government. Powers that are still centralised in singular western presidents and prime ministers to this day, but are decentralised and divested into multiple offices in Korea instead.Iβd argue this hurts their economies more than anything – especially when the dictators view foreign trade as a threat to their power.If socialism and communism wasnβt reliant on violent revolution as a means of acquiring and maintaining power, Iβd believe that the chances of falling into dictatorship would be much less
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