How Socialism Wiped Out Venezuela’s Spectacular Oil Wealth
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- čas přidán 6. 09. 2024
- "At this moment Venezuela is living through its worst nightmare," said Luis Pedro España, a professor of sociology at Andrés Bello Catholic University in Caracas, who has studied the nation's economic collapse. "We are witnessing the end of Venezuela as a petro-state."
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Venezuela has the world's largest proven oil reserves and yet the country has run out of gasoline. The socialist government has lost the capacity to extract oil from the ground or refine it into a usable form. The industry's gradual deterioration was 18 years in the making, tracing back to then-President Hugo Chávez's 2003 decision to fire the oil industry's most experienced engineers in an act of petty political retribution.
The near-total collapse in the nation's oil output in the ensuing years is a stark reminder that the most valuable commodity isn't a natural resource, but the human expertise to put it to productive use.
The little gas that is still available comes via periodic shipments from Iran. But the Venezuelan government doesn't officially charge at most gas stations. It uses a quota system, so filling a tank can mean waiting in line for days.
The Venezuelan oil industry turned a once poor agricultural nation into an important geopolitical player and one of the region's richest countries.
The economic crisis has caused much of the nation's educated middle class to flee the country, which will make rebuilding Venezuela's human capital an even greater challenge. In an ironic twist, Chavez's hand-picked successor, Nicolás Maduro, is now working to bring privately-run foreign oil companies back in.
Produced by Andrés Figueredo Thomson and Regan Taylor; translation by María José Inojosa Salina.
Music Credits: Homeroad, Nothing, and Run by Kai Engel; Suspect Located by Scott Holmes
Photo Credits: JORGE SILVA/REUTERS/Newscom; Juan Carlos Hernandez/ZUMA Press/Newscom; KIMBERLY WHITE/REUTER/Newscom;
"If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand." - Milton Friedman
Never been so accurate...
sad but true
Two words:
Mustang Ranch
Friedman was an idiot.
F was a salesman for capitalism who got everything wrong.
I'm an immigrant from Hong Kong. I've said this before, but can we trade all of the leftist socialists/communists to China/Venezuela/Cuba for all of the Hong Kongers who are begging for freedom??!!
Agreed
Make me king. We'll take all the Hong Kongers and won't even force those you listed on anybody.
I agree with ya.
you all criminals there ? or only those who can afford computer? :)
I'm an American, and I think that is a good trade. We should take all freedom loving Cubans and Venezuelans as well. Anybody who has been forced to live under a totalitarian socialist regime like they have would probably be against allowing the poisonous ideology of socialism/communism to take over their new home. America desperately needs more people who understand fully the destructive nature of socialism. Free Market Capitalism is not perfect, but until mankind figures out a better way of doing things it's the best we have. If left unchecked socialism/communism, like cancer, will continue its slow and steady takeover of the western world.
Is Chavez's daughter still the wealthiest person in the country?
I don't think that she has been in that country for ages. She is probably shopping in the luxury stores in Barrio Salamanca in Madrid with the other children of Chavez' buddies.
Yeah but she's been living in New York City for years now.
@@libertaaron8442 New Yuck another socialist hellhole
@@libertaaron8442 which proves both points- in socialism those connected to the government are the only ones to get rich, and that those who can afford to will leave the country.
@@LizRealGirlBeauty sounds like your talking about our system USA, a duapoly system that only the ritch get ritcher
Ten bucks The guy on camera talking about selling the gas out of his bus is already in jail
yeah probably
Jail? Probably dead.
I doubt it, the corruption goes deep. If they arrest him, where the cops gonna get their money?
@Hans Otto Kroeger Kaethler ok lol fascist what ever you say 👌
Just communist lies to justify their failures. We suck because of the Big bad west. Another word, America's fault.
Eddie Murphy isn't starring in this but this is Coming To America Too
That lady was just having a bad day, that's all, nothing to see here, move on!
@Boujie Bounce What do you think Tesla uses to get its precious metals OIL/FUEL and that it takes 7 to 8 years of driving a Tesla to break even on the CO2 Emissions that it takes to Build one car..
@Boujie Bounce you have no clue as to what makes a car or to make it move..specially a Tesla.
#1..
Oil products such as diesel fuel, gasoline, grease is used in earth movers for precious metals it takes to build the Lithium BATTERIES which are cathode's made from lithium nickel manganese cobalt oxide and other components..
#2
Grease which is an after product of petroleum is used for the BEARINGS in the motors.. and lubing parts of the car...
#3
Oil products such as Petrochemicals are used in making plastics and other products for the car, such as TIRES ..
You have to be complete moron not realize that once production oil is stopped..
So goes the electric cars..
Better buy some land and raise horses you might need them.
PUNK
Rino, Dems in TITLE ONLY.
A TRULY DESTRUCTIVE FORCE IN U.S. GOVERNMENT.
TEAM UP LOCAL PATRIOTS. WOMEN, MEN, FRIENDS, FAMILY.
@Boujie Bounce you look my relatives work for Tesla
I'm iranian. Don't nationalize your resources please.
You should tell them exactly the reason why not.
Its been nationalized for a good while now
sure
Resources are the only thing which should be nationalised...
@@idsavo isn't me being iranian enough of a horrible outcome to get the honorable reader what the evils of nationalization are?
Do you remember when John Stewart cheered Hugo Chavez nationalizing the oil industries and firing all the CEOs? I remember.
Do you remember the US Sanctions? And regime change attemps?
Public companies were irresponsibly given away in the 80-90 it was more a nationalization than an expropriation; Chávez was a Bully and a Megalomaniac so he himself imposed the "expropriation" discourse to show signs of a strong state.
College students pushing socialism: I’m going to pretend I saw nothing
As a current college student, I really hate my generation.
@@shermanngjazz its not just your generation. It your parents generation that taught your generation nothing.
@@ekerson its the generation before them that taught them nothing as well. Country wouldve been better off being only english
@@ekerson Butt-hurt rightwinger? American dream turning into nightmare?
*cough* America is already socialist *cough*
The World Economic Forum's official statement that "You will own nothing, and you will be happy" is starting to become more and more real.
Not helped by the many useful idiots who figure, "Well, I own nothing anyway, but at least this way everything will be free!"
@@sixwingedasura3059 they think everything will be free but they couldn’t be more wrong. The statement just means EVERYTHING will be to rent. No one will have ownership over their own material or property
Out of my cold, dead fingers.
It is a no brainer socialism brought misery to venezuela, and refugees to other countries in the region, but what I think need to be elaborated upon is how "persecution by capitalist countries" and/or "US sanctions" _did not_ spell demise of the socialist ones.
I'd say this myth is regarded as absolute truth among socialists.
its obvious its not sanctions as they don't have oil for themselves. Its a case of government planning, if you did want socialism the way to do it is to establish a market cooperative. One central leader can't know what millions of people demand.
I disagree. The more pervasive and destructive myth that needs attacked is that Nick Gillespie is, in fact, Lou Reed.
I know right the socialists always try and blame it on america, or move the goalposts of what counts as failure.
I mean, just look at Cuba. Decades of US sanctions never lead to the level of instability and unrest that you see in Venezuela.
Those sanctions are not the fault of capitalism.
Menos Marx, Mais Mises
O foda é que a população venezuelana não acordou ainda alguns querem o "socialismo certo"
Mal sabem eles que esse é o socialismo real
That wasn't socialism it was monetary manipulation and trade imbalances. Stop lying.
@@zippydodahquirk9039 Exactly! That wasn't REAL socialism!
Richard wolf
@@badgerkitteh ROFL gottem!
One man did it single-handedly. It's right there in the description:
"President Hugo Chávez's 2003 decision to fire the oil industry's most experienced engineers in an act of petty political retribution."
And because Chavez seized privately owned assets in the name of the state, and given the current state of affairs in Venezuela, good luck enticing investors back.
And alot of idiots think that the U.S sanctions in 2015 is what did them in.
It’s always “socialism is bad, look at Venezuela!” Without asking why Venezuela and not Scandinavia?
Why is it all the things that liberals want (affordable education, a stronger welfare state, vacations, unions etc) is demonized as “socialist,” when Northern Europe can institute all those policies and they’re not Venezuela?
Venezuela is due to mismanagement derived from a populist authoritarian who campaigned on socialism. The country would’ve have always devolved this way without why socialist talking points. Maduro would’ve always fired anyone perceived as “disloyal” regardless of political affiliation.
It’s easier to blame socialism on Venezuela than on authoritarianism I guess.
@@lucasbendit7564 Socialism is about control and ownership of industry not about social programs. Also Scandinavia is not really socialist.
@@joshuawadsworth6417 it did make it much worse but the problems started well before.
@@lucasbendit7564 socialism *is* authoritarianism.
If gas is so expensive, why don't they just drive Teslas?
They don’t have the electricity to drive Tesla.
Because they don’t have enough unicorns.
Learn to code!
Free Everything
@@papaspeleo nice!
Congresswoman Comrade AOC yearns to live in a socialist state. Send her to Venezuela. Venezuela is also closer to her home -country- territory Puerto Rico.
Some of her policies are reasonable. It’s not fair to me, a taxpayer, that I must subsidize thousands of workers wages b/c corporation’s lowest legal pay for 40hrs per week is somehow legal and eligible for Government assistance.
Poverty is not an efficient use of resources, and a more capitalistic system than we already have would worsen, not stabilize inequality leading to only further government corruption (“campaign donations”) and collapsing infrastructure.
Puerto Rico isn't a country its a territory of the U.S. but hey it's 300 km closer to Venezuela
Edit I said 500 but 300 is closer
@@micahmurray9120 Agreed. The comment has been edited.
Ah yes, Venezuela, definitely a socialist country, because the US never had any state owned corporations before, that would be too socialist of them....shut up
@@nazooondemand AOC accused Ted Cruz tried to kill her (because he said something she didn't like). AOC is your type.
"this isn't real socialism" "let's have socialism in the US" - the millennial student student who has been in school too long.
USA would profit from some socialist elements - universal healthcare, for example. COVID-19 has demonstrated that if you leave a group of people behind, they will in turn drag you down.
@@Kamamura2 Uh no, we would not benefit from that.
What millenials ask for isn't socialism. It's a welfare state supported by heavily taxed markets.
@@Kamamura2 socialist elements are expenses. Government should not be involved in daily life nor control much. Thats not its purpose.
@@Skilliard so, the dont want socialism even though they ask for socialism?
"Communism is not love. It is the hammer with which we crush our enemies!" - Chairman Mao
What they don't say is that their own people are the "enemies."
Wow!
@@bishopakpan2284 There is a lot of money to be made selling communism, but none to be made when you get it.
"Communism is when you starve people to death" -Chairman Mao
As a Hispanic, this hurts me to the core to see others suffering under such dictatorship. This breaks my heart. To literally think that Americans believe that America is racist, unjust ,along all the other ridiculous labels people give the US, they have never seen or even heard about this ever. It’s not on the news, it’s not mainstream, nothing. For every American who wants to leave, I will gladly pay for a 1 way ticket for you to live in Venezuela, and trade for a Venezuelan who wants to work and not complain. I’m Puerto Rican, and if people only knew about the suffering the US government put on my people and how it has impacted us today under liberal/democratic policies, lies and abuse, people would shut their mouths. But no... you want it to be about color. Shut up or get out. You know nothing of suffering. Our peoples in this nation fought so we could have freedoms and rights that we all have and people abuse them for what? “ equity?” Breaking into a LV or Gucci store because “ they want bread” 🧐GTHOH....
I'm Mexican and I agree with you 100%.
subscribed to your channel based on this comment. I crave the few people left who have intelligence, thinking skills and tell truth. 🙏❤️🙏
Trying to defend America yet accuse it of what happens in your country of origin. What do you want???
I'm Eastern European and Immigrated to Canada after the Soviet Union fell. I find it bizarre how all these young Americans are brainwashed by the democratic party and want socialism. Can you elaborate how democrats destroyed Porto Rico? Thanks. It's very interesting to hear other people's experiences.
Im confused how you went from the Venezuelan crisis, to defending America, to calling it out for “democratic” and “liberal policies.
Let’s not forget that America is not immune from making their same mistakes and that we must stop socialist policies in their tracks
Under Jose Biteme we are headed in the same direction..
Prices of everything has gone up since he took office..
This is going to be America's fate.
And the Venezuelan people are also to be blamed for this - they fell for the lies of Socialism
Now they must experience the hell they voted for
Like bailouts for banks and Wall Street and corruption and regulations to suit them against the little guy. Corporate communism
Yes and our system is dandy wher we live with M4A, Good education, and welfare for the ritch
America is a national export of gasoline and oil and socialists policies are not the issue but say American sanctions, regime changes, and corporate chokeholds on the gas and oil industry that Venezuela has had support its economy as a major tax revenue source for the people.
This is what they voted for. Sorry/not sorry. Democracy in action.
Dominion machines= voter fraud.
And why would the people vote for another socialist after Chavez died? It’s clear there was voter fraud with Chavez and voter fraud with Madura.
They "voted" for Maduro just like the U.S. "voted" for Biden.
@@daisyjune5135 there where no dominion machines in venezuela.
this is one of the biggest flaws of democracy. it needs to br viewed as a privilege and not as a responsibility, with something like a voting licence that you have to refresh every 8 years which you can get if you pass a simple test on politics. it would help to trim off some of the straight up uneducated and uninformed voters, and would mean that everybody participating in elections cares enough to get the license, and knows enough to pass the test for the license. maybe you would only need one if you are under a certain age, like fron 18 to 25, when your brain is done physically developing.
@@Andrew-th8jk Sounds great until you realize these tests could easily be manipulated so that only people with certain ideologies can get the licence. They could argue you aren't mature/high information if you don't think the environment and race/gender politics are the most important issues. The test must be politically neutral and then be somehow protected against fraudulent scoring.
I always thought Milton Friedman quote ‘a government put in charge of a desert would have a shortage of sand’ was hyperbolic. But here is exhibit A.
I was literally reading about this 30 minutes ago coincidence I think not LOL
where did you read about this? I never see this type of coverage in the news. thanks.
@@jimmcmonagle2360 I was just randomly thinking about it and how many socialist ideas when you really try to rationally think about it degenerate into a disastrous mess it's almost like the kid who insist on being in charge and micromanaging everything their unwillingness to trust anyone results in complete disaster.
By the way sorry for my English it's not my first language.
@@jimmcmonagle2360 Oh I'm sorry I should have specified I was reading old articles about Venezuelan nationalization
@@yousef7033
Using commas would help you make more sense! Where ever you might pause to make a small change in subject matter requires a comma!
CZcams algorithm
Thanks for making this video. It's important to people from other countries know the situation here, and avoid making the same mistakes that our parents did voting for Hugo Chavez.
Uhhh these people are moving to the U.S and asking for "financial assitance", f outta here.
What a tragedy. It's seems so easy to sit at a distance and mock the ineffective policies and blind application of faulty ideas, but it's no laughing matter for Venezuelans.
OK, Capitana Obvious, glad you cleared that up for all of us heartless unwashed masses. DUH!
IT'S NOT INEFFECTIVE POLICES
IT'S CURRENCY SPECULATORS
MADURO DID LIFT CONTROLS RECENTLY AND STILL THE INFLATION KEEPS GOING
WHAT LIE THE OPPOSITION SAID BEFORE IS NOW EXPOSED AS A LIE
@Michigan Tap Water IT'S THE OPPOSITION WHO PUT THEM IN THAT SITUTION
THEY HELP GIVE NEWS COVERAGE ON WEBSITE "DOLARTODAY" THAT MANUPLATES VENEZUELAN CURRENCY
AND
ACTIVATELY DISCOURGES INVESTMENT
ADVOCATES FOR SANCTIONS AND OVERTHROW
THIS CRISIS IS MANUFACTURED BY THE OPPOSITION WITH HELP OF US GOVT
We (the US) are slowly accepting these philosophies because we do nothing to stop it.
If Venezuelans themselves had mocked the ineffective policies and blind application of faulty ideas then they wouldn't be in that predicament would they? So we owe it to ourselves to mock these things such as to avoid them.
Imagine a President that campaigned on destroying the energy sector and then people are upset when he did so.
But but but CIA and falling oil prices and not real socialism
Economics is a CIA backed plot, according to the people who own Che t-shirts.
Satire thats true doesnt rly make sense bro
@@Hashishin13 - as soon as they were told the oil would be taken without paying royalties the trouble began. Just like they did to Iran in the 1953 coup - Iraq 2003 - Syria - now - Bolivia regime change because they wanted the lithium without royalties - the bananas in Guatemala by taking farms from locals after bribing the government officials (United Fruit company) etc etc etc
A country that has huge oil reserves had to import oil. I would say it is ironic but that is socialism. That is how it works.
"Bread lines are a good thing. In capitalist countries, the rich get all the bread and the poor starve to death." Bernie Sanders. Look it up.
To be honest I don't think the rich are eating much bread xD
He's right
Bernie also once stood for secure borders too: czcams.com/video/vf-k6qOfXz0/video.html
@Nathan Rhodes The clip was cut and taken out of context to make it seem like Sanders endorses bread lines, but he was actually talking about poverty in Central America and how, from his point of view, the public policy of Nicaragua back then had saved people from starving to death.
@@arcaneone lol I was waiting for the "out of context" comment. This is gold! His soviet honeymoon was also taken out of context and the whole thing was heavily ironic. Like mustache on a hipster, no doubt!
"Essential services"... this should've made everyone bristle when last March American and European governments started defining, via executive order and under penalty of impriosnment, whose professions were "essential".
Venezuelan immigrants to the states (myself included) definitely got goosebumps (and not the good kind) when we started hearing both parties in the U.S. use this kind of language. Government should not be able to determine what is and isn't "essential"
@@Chipiricuiki0083 fr
EMPIRE FILES
People on the left scoffed when I told them that declaring jobs nonessential meant declaring PEOPLE nonessential.
I'm a simple guy, I see a video exposing the blatant failures of socialism, I press the like button.
And yet there are still millions of people in the World today, including in America, who believe in Socialism. How absurd is that?
I know, right? Even two of my relatives are studying Socialism & Marxism as well as Left-Wing figures like Angela Davis and Bell Hooks. I, on the other hand, am studying American Conservatism & Libertarianism, which are the OPPOSITES of what they are learning.
The ultra rich in the U.S is said to be socialist. It makes sense. They only take care of their own, wanting to control the lower class people. Giving them crumbs. No wonder blue collar workers never ahead.
Hispanics will 100% vote America into destruction. Then they will be shocked that it happened and blame someone else.
Trudeau is working HARD to do this to Canada. 😥😢 The elites will never quit as long as we stay silent.
It was already done when he took office
Frivolous comment
Think about that, a country with some of the world's greatest oil reserves can't even pump it out of the ground because of the horrendous mismanagement that comes about because of Socialism...
Venezuela: has the largest oil reserves in the world
Also Venezuela: be gone citizens
"Those who do not OBEY will not eat!" (Leon Trotsky)
That is exactly the goal of the current scourge that has poisoned the States as well as over 100 countries.
There is sooooo much more to this story. Unfortunately you would probably get demonized for sharing it because of the recent similarities. You did a good job with information presented
Am interested. Any sources you recommend?
@@sakayapapaya9589 same here
The video has full ads wym
@@sakayapapaya9589 just a quick review of any population that is oppressed by socialism will reveal the rest of the story. Every single country that lives under this type of government has nothing but suffering in all areas.
@@Mr.Deko86 quite so. Whenever I have a conversation with anyone from the left I ask them to name one socialist/communist country or state that is not riddled with corruption, secret police, totalitarian control of the press, political prisoners and ban on opposition parties, collapsing economy, and of course genocide. Just one. Go on, just name one. (No further questions your honour) God bless the people of Venezuela. Best wishes from 🇬🇧
"If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand." - Milton Friedman
Not true. Thats the lie that is funded by multinational conglomerates who have bought your news medias, and your politicians. Which is the fastest growing economy of the last 40 years?? Not the US, not Europe, but China. China had double digit annual growth for 30 straight years, back to back. Ever since humans started to keep records, no nation has grown their economy faster than China. From one of the poorest nations in 1973 to the 2nd largest economy on the planet in 2023, yet it is centrally controlled by their Govt. Big Tech, Big Pharma, The military Industrial complex, Big Media etc all then turn around and convince you Govt can do no good, yet it passes legislation that favors them and when they get greedy and fail they run back to the Govt they taught you to despise to get bailed out to the tune of billions of dollars.
Bernie Sanders wants you to forget what he has said about Venezuela before.
He also want you to forget he has 3 high dollar homes and is a multi millionare
That's what happens when a country nationalizes everything. If the government falls, everything falls down with it.
On the other hand, if you privatize everything, the 1 percent richest will suck the nation dry. Wanna buy insulin, or cancer meds? They are only slightly more expensive than gold.
@@Kamamura2 the medical industry is the most heavily lobbied industry in our government. It is literally impossible for you to build a new hospital without prior approval of all other hospitals you will be competing with.
All of this under the false predication that competition might lead to society "killing grandma".
@Kamamura2
The 1% can't suck the nation dry in capitalism because wealth is not finite, nor is it a right
@@frankienbloo1723 obviously for any nationalization to occur we need more policies to restrict corruption, obviously with how the U.S. is currently set up it would fail miserably, that's why one of our latest concerns should be fixing corruption as much as we can not say "well if we did it right now it wouldn't work" that doesn't accomplish anything, those problems affect every system of governance.
That wasn’t REAL socialism, MY socialism would’ve worked.
"I am not a Marxist" - Karl Marx.
Lol!
"The masses can't distinguish a bone from a mouth" - Ancient Roman Proverb. Things like this will continue to happen as long as the right to vote is a birthright and not an acquired skill.
"The near-total collapse in the nation's oil output in the ensuing years is a stark reminder that the most valuable commodity isn't a natural resource, but the human expertise to put it to productive use."
The expertise was, and probably to a large extent still is, there. It was the incentive structure (profits) that was removed.
You also need the USA to stay away from your people...interfering in your elections....and your mineral wealth....you people are quite capable of running your own country and your financial affairs without any outside interference
"Socialism Works!" - AOC
AOC’s Wet Dream right here, folks !
You're looking at New York City, Boston, Chicago, Miami, Los Angeles and most other big US cities in 2-3 years. Just remember that what you vote for is what you deserve.
"you looking at cities destroyed by capitalism. therefor it's socialism fault"... american logic
@@gaagarin5976 you forgot the sarcasm tag /s. Currently Gov Cuomo is begging the 300K NYS emigrants, many of them high wealth people to return after Covid and crime caused them to leave. Neither NYS nor NYC can survive without the taxes from the wealthy. Socialism is spending the money that capitalism creates. Did you see AOC selling shirts for $78? LMAO!
@@gaagarin5976 those cities are funded from capitalism. As a matter of fact they spend too much. The fuck are you smoking 🤣
@@gaagarin5976 Incorrect
@@DCBChump 100% correct.
Put AOC in charge of the USA’s energy policy, and that’s pretty much what you are going to get.
60% of posts: "If you put the government in charge of the Sahara desert, in five years you'll have a shortage of sand"
In Norway, the state oil company constitutes the country's roughly half GDP but most citizens have jobs in the private sector and do not rely on government subsidies, which in contrast, are a curse on people like Venezuelans, who tend to become dependent on the state and not have a healthy work ethic because of their culture. Better leave the oil industry to private companies.
Norway depends on the U.S. military for protection.
@@johncampbell829 much of europe does, so that's neither here nor there. Norway depends on Finland buffering a Russian invasion with thousands of land mines. Finland depends on the US threatening Russia with nukes
@@johncampbell829 I'm pretty sure western europe would be able to take care of itself.
The russian economy is the same size as italy.
Feel free to pull out of nato and leave it to us.
"because of their culture" oh come on just say it out loud you think people from South America are lazy because you're racist
The government should just make gas free! C’mon man!
Economy? Do you mean the dogs and the ice cream?
tydaftpk38 Just join the Paris climate accord.
Government tax fuel alot , in Australia 60% = 2% net profit for franchise owners
It’s sad , that nobody in main stream media gonna cover this kinda story’s .
Little correction on the translation, when the guy says "we had 15000+ petrol stations in the US" it's actually that number and not 1500+ as written in the video. Thank you for you work🙌
Venezuela's hyperinflation necessitated an alternate currency. They didn't go with the Columbian Peso - even though many Venezuelans go to Columbia to buy necessities. They went with the US Dollar. Interesting.
And where is Sean Penn and Danny Glover now? They used to be in Venezuela singing the praises of Chavez. Now they're no where to be seen. The cowards.
08:55 imagine firing the people who actually knew how to get things done. So who replaced them? A bunch of politician who just know how to talk?
Imagine doing it with the game reference like it's a game. Blowing a whistle, and saying you're out. Also market intervention. Price controls, and telling company what they should charge added to this crisis. Also the theft of billions through corruption. His daughter is a billionaire.
We never wanted that, Chavez worked on the minds of the people in abject poverty and gave them free houses, cars, everything. We left the country in 2000 when the coup happened and haven’t even visited since 2013, we saw how far leftist policies destroyed Venezuela
And to think there are people around the world that think socialism is the answer. Unbelievable.
If you believe socialism will work and blaming capitalism while living in a capitalist country, I'm more than happy to switch nationality if that's possible. BTW I'm from sri lanka, a socialist state
People who think Socialism is the reason why Venezuela is suffering you're just ignorent. There are many countries who follow socialism China follows Socialism Vietnam followes Socialism they are doing good. The only reason why Venezuela is suffering is because of US sanctions. IDK why is USA still in Human Rights council. They did the most damage to human rights than any other country and getting away with it everytime.
Wrong dummy. Socialism is the reason the country failed just like they always do. China isn't a socialist country. That shows you know nothing. 😂😂
Not only that but like these people said if these folks were fired that doesn’t help either. There are countries with effective socialist/welfare systems in place. It’s more an issue of transparency and governance. Norway has a huge sovereign wealth fund based out of their oil wealth. Saudi Aramco is the largest oil company in the world right now.
As a Venezuelan-American I witness all that.
I would pay to see Bernie Sanders supporters living there.
Singapore : Absolutely *NO* natural resources in it's soil, No oil, rubber, rare metals etc. even it's leader Lee Kuan Yew, said that in the grand scheme of things, Singapore shouldn't exist. Adopted and fully embraced capitalism. Now currently the best country to live in with top-tier medicine, Housing, Security, infrastructure, GDP etc. with the economy rivaling the USA.
Vuvusuela : Had the largest stock of oil, The most valuable resource of mankind. Adopted socialism and absolutely wrecked the country with it's inflation higher that Zimbabwe
Oil is a curse.
BuT tHiS iSn’T tRuE sOcIaLIsM
Do the workers own the means of production in venezuela? No? Then they ain't socialist. Unless by socialism you mean "when the gubberment duz stuff"
@@drawingtutorials806 of course they own the means of production. they voted for this. this is what literally every socialist ever tells me. that the government is simply just the will of the people, and wealth sprinkles on us like mana from heaven. democratic socialism for all! lmao.
oh I thought this was the California documentary.
Socialism for the rich and rugged individualism for the rest of us. 🤭
You voted for it, and you got it, so you deserve it. Problem is, in the USA, we're voting for it too.
Well at least they have equity. And at the end of the day isn't that more important than fuel?
This is what Trudeau is doing to Canada starting with Alberta
Ironically, the Trudeau family made its millions when Justin's grandfather, Charles Trudeau, opened up a string of gas stations in Montreal.
Good. Canada deserves it for voting him in.
@@ChibiViolin they voted for him to legalize weed.
Democracy and socialism have nothing in common but one word, "equality". But notice the difference, while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude.
Actually democracy is what led Venezuela to socialism because democracy is majority rule and mostly everyone voted for chavez leading to a disaster unlike the usa were the constitution never mentions democracy but say republic several meaning those in minority class have a say in government democracy Leads to tyranny
@@riqqarddopv7918 True, but what makes the United States different are the 3 branches of government (Legislative, Executive, and Judicial) that provide checks and balances that way the U.S. Republic never falls which is what the founding fathers of The Constitution wanted. What Chavez did was take over the government and even after the Venezualians tried to vote him out, Chavez rigged the election and wound up becoming a dictator.
Democracy is mob rule. It has nothing at all to do with equality. Let's take a look at those three branches of government. All of them fall into one political camp or another with even the Supreme Court interpreting the Constitution along those ideologies. The Constitution has been largely ignored for decades. How do you abolish slavery and then make us all part-time slaves with an income tax? Give me a break with this "what the founding fathers wanted" horse shit.
@@riqqarddopv7918 a republic with checks on mob rule is critical, but even more so is an informed populace. Pure democracy with a lower IQ public can be a disaster.
@@jimlovesgina I'm in total agreement with you when it comes to true democracy being "mob-rule" or true democracy is "two wolves and a sheep deciding what's for dinner". But I disagree with the analogy of being a "part-time slave" due to a federal income tax. The U.S. population growth has averaged about 1 percent per year. ... The fact is the United States could have a radically smaller government - by eliminating the federal income tax - however....this would also take away the social safety net as well as gutting our U.S. defense. I don't know about you but I like being a world superpower. As a former US Navy combat veteran, I proudly served my country. There's a reason the last time a foreign army ever occupied American soil was in 1812. I have no problems paying my federal taxes to ensure this. State taxes? That's a completely different subject and why I moved from California to Texas 6 years ago.
American's that think Democrats are Socialist are cute
For socialism/commuism to keep going, it must latch on parasitically to a capitalist host. China learned this very hard lesson. That's the reason why china changed tactics from seizing the means of production to just seizing the production. Leaving the means of production to its billionaires who keep on disappearing now and then. You know what that proves? That socks, cars, etc can be produced without governments. In fact the opposite is true. If there is too much government socks, cars, etc will never be produced adequately.
Maybe socialism isn't so good...
This video should be a part of mandatory education in our middle and high schools and universities
I see a lot of Hugh Chavez in AOC.
than you have huge imagination. wright a book
@@gaagarin5976 if you don't see it I have a bridge you can buy in Brooklyn. AOC is an avowed socialist who espouses all of Chávez's beliefs.
@@gaagarin5976 AOC refused to denounce Nicholas Maduro
@@intihumala9087 and trump denounced white supremacy. which mean There Is white supremacy. right?
@@gaagarin5976 im sorry were you trying to make some sort of point here?
Behold the future of America.
The guy at 6:14 explains it
This is so sad. And pretty soon if these ingrates have their way, the entire world will be like this.
Canada headed in the same direction. I worked for an oil company that dealt with Venezuela. We sent upi to 70% of our product to them. Not just the government but also the big oil companies were very corrupt !!!
Unless Canada’s economy relies on a sole commodity and they’re printing fake money then no it is not headed in the same direction.
This shouldn’t be seen as an argument for privatization. Venezuela’s oil had been nationalized since the 70s and was doing just fine.
Their own corrency is toast.
So many want this badly in America... down and expell socialism teaching in our colleges!!!
Socialism works they just didn’t do the right kind of socialism 😉😉😉
you point a finger in the sky. but actually you right.
The Elves had it figured out. Uh, didn't they?
Hollywood stars such said Venezuela is the model that USA should copy.
Witch stars
@TheNewDonDo He is no star!
@TheNewDonDo I guess you are right!
Hollywood is falling.
I’m American Venezuelan and I can say Hollywood is one the most lost, unethical parts of American society today. It’s an insult to the thousands killed by the dictatorship and also a slap in the face to everyone that left Venezuela because of the crisis
bUt iT's NoT rEaL SoCiAlIsM
Socialism or not the sanctions is what did them in
@@uche007us by saying this you sort of concede that Venezuela needs America as a customer to succeed.
@@soulfuzz368 america is preventing private people from buying from patronizing them. The US is part of the market and whenever govt action interferes in the market there is trouble. Venezuela does that with socialism and US has an oversized effect with sanctions.
@@uche007us is it the distribution line that is affected? Surely there are countries who will buy the crude. Why doesn’t Venezuela have their own means of distribution?
@@soulfuzz368 you need to read up on how sanctions work. Take Iran for example. Because of US sanctions on the country, when India wants to buy their crude, they ask the US for waivers in order to buy said crude oil. Now if it was just that easy to sell anyone your oil following US sanctions, why would a powerful country like India as US for permission to buy their oil? You need to read up more about how US sanctions work.
Remember when Jeremy Corbyn praised venezuela?
Dude it’s not socialism, it’s the government. Capitalism has its major flaws as well
"Why liberals and leftists are a bad idea, the movie"
Liberalism is pro-markets. Learn the difference between left and liberal.
@@Cyanopteryx Liberalism is full of people like BLM and Antifa
"One bad apple" -The alt-intelligent slogan for cops
Works both ways pumpkin.
most "liberals" are literally capitalists what are you talking about
You have to trust individuals to run their business better than the government.
Obviously the governments of the UAE, Saudi Arabia, and most other OPEC countries are not good at all, but at least they didn't completely squander their largest resource while providing no economic upward mobility to their people.
they limit total number of citizens, their socialism is eu style socialism,ie not useless relatives in charge of major industries etc
But-but-but its democratic socialism, right?Hey Bernie and AOC are you watching?
With companies stating they will stop producing any cars but electric, we are just kicking the can down the road for our children to deal with. The switch to electric is and will happen, but we need to work as fast or faster to get the technology and infrastructure side of the economy weaned off gasoline and diesel also.
The existing grid won't be able to handle everybody with electric cars. We need more electricity, preferably nuclear. The US hasn't constructed any nuclear plants in decades but designs have improved.
A famous socialist once said the following quotes:
"The party is all-embracing. It rules our lives in all their breadth and depth… There will be no license, no free space, in which the individual belongs to himself. This is Socialism… Let them then own land or factories as much as they please. The decisive factor is that the State, through the party, is supreme over them, regardless whether they are owners or workers."
"There is a difference between the theoretical knowledge of socialism and the practical life of socialism. People are not born socialists, but must first be taught how to become them."
"In socialism of the future…what counts is the whole, the community of the Volk. The individual and his life play only a subsidiary role. He can be sacrificed-he is prepared to sacrifice himself should the whole demand it."
well I am willing to sacrifice my blood to that tree of liberty if the threat of installing socialism in America demands it. I hate commies and will die over it if it saves family and America from socialists.
It wasn't only the loss of the human expertise and experience of their oil experts, workers, and directors.
Another major factor was that Chavez was having most of the oil revenue funneled off to pay for lavish welfare programs, without any understanding that much of that revenue needed to be reinvested to maintain, upgrade, and expand oil equipment and facilities to at least maintain production and refining (into gasoline) capacity.
This is why their production and refining fell and why, despite having the largest proven reserves in the world, they have to import gasoline.
Socialists simply don't understand how to run a business. They think necessary reinvestment is 'greed.'
It's the equivalent of selling your dairy cow to buy milk: sure, you'll have a buttload of milk for a little while, but soon enough you have no more milk and no cow. Socialists everywhere can't seem to grasp this rudimentary concept.
to those who say 'but that's not real socialism', who or what is stopping you going to 🇻🇪 and experiencing it first hand?
i live in 🇬🇧 and am deeply thankful that socialism isn't acceptable in 🇬🇧.
this comment just fundamentally doesn't make sense, if somebody say's that Venezuela doesn't practice socialism (which it literally doesn't the workers don't own the means of production) why would they go to Venezuela to see what they don't consider socialism
I’m American Venezuelan and I agree, keep that shit outta America we don’t need it here. Trump 2024
What they need is some democracy. The same stuff brought to places like Libya Iraq Syria and Afghanistan. Funny how there was no mention of the crippling economic sanctions that were put on the people.
Lived through Zimbabwe 's economic crisis, was lucky to migrate to a western country, this feels so familiar
Has someone shown this to Bernie Sanders?!?!
Bernie Sander is too smart for this stupid propaganda.
I visited there at the peak of Chavez's popularity in December 2006. The country had been living large on stolen money for six years and people were incredibly proud of Venezuela's "prosperity" but even then, I could see that things were going desperately wrong.
Chaos among other countries just reveals to me that there's no brotherhood between nations, just pure business, so much for the UN that was created to avoid war-like scenarios and to protect the "human rights" but having a dictator in South America and a pseudo Civil War in US aparently doesn't come close to their definition for chaos, sometimes one would ask "what they would gain from this?" i ask the same about this situations were people suffer and economies are at their lowest but somehow it is left unbothered, is "sovereignty" what restricts other countries from helping another? a nation would be burn to the ground but at least died sovereign, somehow it reminds me of Europe were people die by foreign hands but hey, at lest they're not racist
Well said! Thank you for sharing your thoughts. Very intelligent.
Us trade embargoes, us economic sabotage, and local capitalists have weakened the Venezuelan economy and society, however, support for the socialist government remains strong. What the Venezuela people fear is a return to being an economic colony of the USA.
I feel sorry for the people who voted against Hugo Chavez, but his voters literally got exactly what they asked for. I've got no sympathy for them.
I wonder who are those who down voted the video?
Do they really think that wasn't socialism even the Chavez himself said that it was socialism?
it's usually futile to try to talk facts and analysis with socialists who enjoy a sense of moral superiority in their ignorance 😢