Venezuela is starving, please pray

venezuela starving

From today’s WSJ, Venezuela is starving (gated).  No political economy discussion really needed here.  The socialist experiment is turning Venezuela into North Korea, with all the attendant misery. This is potentially going to be worse than Syria. This is an unmitigated, albeit predictable, disaster.   No need to discuss the issue as to why, just pray for these poor people.  May God have mercy on them.

5 thoughts on “Venezuela is starving, please pray”

  1. So very heart wrenching when there is no need in this world for this kind of inhumane treatment of people. Where is the UN to help get food to this nation?

  2. Please get your facts straight before exploiting a humanitarian crisis to score some political points. Pretty low, even for you.

    It is not socialism that is hurting Venezuela.

    It is its over-reliance on revenue from oil exports that is fueling (no pun intended) Venezuela’s crisis. Indeed, Venezuela is repeating a common mistake in Latin American history (and African history, too).

    If oil prices continue to collapse (and stay low), the US is going to suffer, especially areas reliant on oil export income, like North Dakota and many Southern states.

    The lesson here is not that socialism is a failure. Some socialistic nations are thriving, and some that reject socialism are not. Economics in the real world is not that simple (socialism = bad; capitalism = good).

    Rather, the lesson here is to branch into others areas. Putting all of one’s export eggs in one basket is like Russian roulette: it is only a matter of time until your luck runs out

    1. Talk about being low. He is asking us to pray for the country and you are just quibbling to satisfy your need to to argue with him.

      http://money.cnn.com/2016/10/25/news/economy/venezuela-breaking-point/

      From this article you do have a point. (“Things got really bad when oil prices started to plunge in 2014. Venezuela has the world’s largest oil reserves, but the problem is that oil is the only game in town. It makes up over 95% of Venezuela’s revenue from its exports. If it doesn’t sell oil, the country doesn’t have money to spend.”)

      But as usual you only report the small portion that lends credence to your point and ignore the rest. Yes, oil is practically the only export and prices have dropped. However, the article also says the following:

      – “Years of excessive government spending on welfare programs, poorly managed facilities and dilapidated farms set the stage for the crisis.”
      – “The problem is that Venezuela has not taken care of its cash cow — squandering opportunities to invest in its oilfields when times were good. Because the country has neglected with the upkeep of its oil facilities, production has dropped to a 13-year low.”
      – “Venezuela’s state-run oil company, PDVSA, hasn’t paid the companies that help extract its oil, such as Schlumberger (SLB). In the spring, Schlumberger and other companies dramatically reduced operations with PDVSA, citing unpaid bills.”
      – “Despite a crashing currency and falling oil revenue, the government continued enforcing strict price controls on goods sold in the supermarkets. It forced food importers to stop bringing in virtually everything because they would have had to sell it for a major loss.”
      – “Only recently has the government stopped enforcing price controls, and food has returned to supermarket shelves. However, prices are so high that few Venezuelans can afford the food. Medicine remains in short supply too. Venezuelans hunt for penicillin and other remedies at pharmacies everywhere, often without any success. The country’s public hospitals have fallen apart, causing people, even infants, to die due to the scarcity of basic medical care.”

      So to recap: Excessive government spending on welfare, poor management, lack of facility upkeep, squandered investment opportunities, state run companies, lack of payments to oil extracting companies, strict price controls, lack of medical supplies and broken down hospitals.

      Sounds like Dr Haymond is spot on with his diagnosis, but even more so that prayer for these people is the priority here.

  3. Winston Churchill said it best; “Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.”

    If there is one thing Venezuelans are sharing equally right now, it is misery.

  4. It’s really quite sad to see that, rather than letting go of the chess pieces, Venezuela has decided to destroy them. I was talking with an acquaintance from Venezuela, and he had first-hand comments about socialism, the economy, and life in general. His language was colorful, but his message was clear; the country is in shambles. Dr. Haymond is right…please pray.

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