HÄR HAR BILL BONNER EN RIKTIG BREDSIDA MOT SOCIALISMEN I ALLMÄNHET OCH VENEZUELA I SYNNERHET (ENJOY IT!)
”Venezuelas great dream was always a scam. All laid out for the world to see. And now, is a great dream busted up so thoroughly that there can be no doubt – it was a scam from the get-go.
The background: Hugo Chavez won the popular vote in 1998.
Venezuela was a rich country then, buoyed by what seemed to be an inexhaustible inflow of oil revenues. Mr. Chavez combined some of the worst features of AOC and DJT (Alexandria och Trump).
He was a “strongman” know-it-all claiming to represent the little guy. And he had all the popular delusions – that deficits don´t matter … and that you can “stimulate” the economy and “grow your way out of debt” by spending money you don´t have.
He proposed, like Ms. Ocasio-Cortez, various programs of the socialist genre, designed to shore up his support among the masses.
Among the programs: land seizures, price controls, and nationalizing major industries. These were a big hit. His approval rating rose to 80% (liknar de franska presidenterna när de precis har vunnit, varefter de faller ned till 7%).
But inevitably a few saw that his policies would destroy the country. They rose up against Chavez in 2002. But the result fizzled and Chavez was soon back in power.
Oil was trading over 100 USD per barrel. But no amount of money is so great that it can´t be wasted and stolen.
Would the Venezuelan government cut spending in order to protect their currency?
Of course not.
That´s not the way it works, neither in Caracas nor in Washington. Instead, those in charge resorted to the familiar refuge of scoundrels – borrowing – and printing.
Government debt rose from 25% of GDP in 2009 to 160% for 2018 (I USA är den 105%). Inflation grew steadily worse. The Bolivar like the Dollar, is “fake money” (with no gold backing). This year, the inflation rate is expected to hit 1,3 million percent.
Which is were most people stop counting and pack their bags. And that´s what many are doing.
Yes, it is a rather typical financial disaster … caused by the usual promises and hallucinations … and enforced by the usual cops and criminals.
Even the most incompetent, ignorant jackass can get himself elected, as proven often and illustrated widely.
Chaves began a series of constitutional reforms soon after he was elected.
By 2010, the nationalizations, price controls and deficits were already battering the little guys. But by then, the need for consensus was gone.
Chavez and his successor, Maduro, could do pretty much whatever they wanted … up to a point.
That point may have been reached yesterday.”
TREVLIG HELG ELLER NICE WEEKEND,
Göran Högbergs Finanskrönika varje vecka – klicka här för mer information!
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