Sunday, February 16, 2014

Update on Venezuela (or, Another Example of the Failure of Socialism)

Zero Hedge has an article with links to video to provide an overall summary of what is going on in Venezuela. It notes that unlike prior student protests, this one may become more popular with workers:
The challenge that the student movement will face is in finding a way to include Venezuela's laboring class, which for the most part still supports the government, and relies on its redistributive policies. Their inability to rouse broad support across Venezuela's social and economic classes was in part why previous student uprisings, including significant protests in 2007, failed to generate enough momentum to trigger a significant political shift.

But the situation has changed in Venezuela, and as the economic situation deteriorates there is a chance that protests like this could begin to generate additional social momentum in rejection of the status quo. President Nicolas Maduro has been in office for less than a year, and in that time the inflation rate has surged to over 50 percent and food shortages are a daily problem. Though firmly in power, the Chavista government is still struggling to address massive social and economic challenges. Massive government spending, years of nationalization and an overreliance on imports for basic consumer goods have radically deteriorated inflation levels, and undermined industrial production.
Meanwhile, Capital Hill Cubans claims that Cuba is training Venezuelan security forces to attack and murder student protesters.

(H/t Instapundit)

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