DON’T BLAME SOCIALISM

According to the ABC, dead would-be Venezuelan dictator Hugo Chavez’s efforts to create a South American socialist utopia – nationalisations, censorship and media intimidation, price controls, failed food production quotas, massive overspending and the like – have nothing to do with the ongoing series of national crises.

It started with the election of President Nicolas Maduro …

Mr Maduro became foreign affairs minister in 2006 and vice-president in 2012 under the late president Hugo Chavez, who died in 2013.

He was elected President in April 2013, but since then his popularity has suffered as a result of a deep recession, inflation, and shortages of food and medicine.

That inflation is now so bad that $1,000 of local currency purchased when Mr Maduro came to power would now be worth just $1.34.

No mention from the ABC of a particularly successful wealth redistribution scheme which saw US$11 billion go missing from state-run oil monopoly Petroleos de Venezuela while Chavez crony Rafael Ramirez was in charge.

Venezuelan socialism isn’t all downside, however:

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