its getting serious.  News reports continue daily on the deteriorating state of dysfunctionality called government in Venezuela.  Not only is food shortage a significant problem for many, but basic protection and law and order functions are missing in action.  This is leading to vigilante justice, with some suspected criminals being burned alive on the streets.  So we are beyond the usual high inflation and heavy-handed regulation–they are running out of food. “President” Maduro–should we really honor someone in his position as president?–blames the crisis on foreign interests (that would be the U.S.) and conservatives.

Most Americans are likely unaware.  How can a nation so rich in natural resources–with perhaps the world’s largest oil reserves–be in such bad shape?  And is there a lesson for us?

Years of socialist policies with the former El Jefe Mr. Chavez led to years of capital flight and mismanagement of the state.  This was ameliorated by high oil prices, but the lack of investment has led to reduced production capability just as the price of oil has been crushed.  And the poor people of Venezuela, who enthusiastically supported the socialist revolution, now have nothing.  They bought a lie–that governments can provide a free lunch.  But as the saying goes, capital goes where its welcome, and stays where it is appreciated.  Mr. Chavez and now Mr. Maduro have killed the golden goose, and there is nothing left to eat.

This is the inevitable end of socialism, as Cuba and North Korea and the former Soviet block countries all testify.  Yet in our own country, socialism is once again back in vogue, with young and old progressives once again cheering it on.  Class warfare is at the forefront.  Can we not learn from the mistakes of others or are we so unwise that we must duplicate their failures?  I realize the legions “feelin’ the Bern” don’t want Chavez/Maduro style of socialism–who would?  In the abstract, they can avoid reality and think it will be pleasant, like Europe.  To me it seems that populist rage is growing in America precisely because of the slow growth which denies opportunity to many.  And if lack of opportunity is the problem, how will socialism help with this?

Pray for the poor people in Venezuela.