Reuters reports that Venezuela has ordered its various oil companies and joint ventures to move their money to the Russian banking system. It’s clear that the in crowd of socialist regime is trying to preserve as many of the assets as they can possibly steal before the final collapse of what had been the richest economy in Latin America.
The Gentle Reader should remember that it is politicians who speak fondly of Venezuela’s Bolivarian Revolution who are advocate a
Green New Deal Great Leap Backward™ for the United States.
I think so, Brain … but how quickly would the deficit expand with that Bern rate?
It’s the first day of May and a big day for Marxists around the world to celebrate their various workers’ paradises.
And then there’s this—
John Hinderaker has a post over at PowerLine about socialism crumbling in Venezuela.
Lt. Col. Hugo Chavez was unavailable for comment.
Socialist governments traditionally do make a financial mess. They always run out of other people’s money. It’s quite a characteristic of them.
A worked example is discussed here.