The economy of Venezuela continues to collapse, as socialism fails again.
Venezuela’s elections are being slammed as a sham, after socialist president Nicolas Maduro – who has overseen the horrific destruction of the oil-rich nation’s economy – claimed victory.
14 countries have already recalled their ambassadors from the country, and the US has increased sanctions.
According to Reuters, “Maduro, the 55-year-old successor to late leftist leader Hugo Chavez, hailed his win in Sunday’s election as a victory against “imperialism.” But his main challengers alleged irregularities and refused to recognize the result. In response to the vote, U.S. President Donald Trump issued an executive order restricting Venezuela’s ability to liquidate state assets and debt in the United States, the latest in a series of sanctions that seeks to choke off financing for the already cash-strapped government.”
The elections were boycotted by the main opposition party, “given that two of its most popular leaders were barred, authorities had banned several political parties, and the election board is run by Maduro loyalists.“
Considering that the election was obviously rigged and the numbers were fraudulent, the ‘official’ stats showing Maduro getting 68% of the vote based on 46% turnout are impossible to trust.
Venezuela is no longer a democracy, as the government took power away from the national assembly after the opposition won a super-majority of seats, instead making up a new assembly and filling it with socialists.
Maduro’s approval rating is around 20%, and the government has only stayed in power through violating the rights of the Venezuelan people.
Inflation could reach over 10,000% this year, and may already be above that mark.
The collapse of Venezuela’s economy is a warning about the danger posed by socialists seeking power. The country was once the richest nation in South America, and has the largest proven oil reserves on earth.
Now, it is so poverty stricken that bands of starving children roam the streets, the average person has lost about 25 pounds in the last two years from malnutrition, zoo animals get eaten by desperate people, and even items like toilet paper are in short supply.
And as the economy collapses, the destruction of Venezuela’s democracy is a reminder that – for all their “social justice” talk – socialists are really about using the ruthless power of the state to make people conform to the wishes of the regime in power.
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