From our Bureau of Inexcusable and Unforgivable Colossal Omissions
No surprise, really.
El Niuyortain publishes a detailed report on the magnitude of the suffering now being endured by the Venezuelan people, calling it “the worst outside of war in decades,” but never once uses the term “socialism” in its analysis of the country’s monumental economic collapse.
Inflation in Venezuela for this year is estimated to reach 10 million percent.
Oh, but none of this is due to the socialist/communist economic and political policies imported from Cuba.
No, it’s all due to the “poor governance, corruption and misguided policies of President Nicolás Maduro and his predecessor, Hugo Chávez.”
And… oh, let’s not forget those cruel sanctions imposed by the evil Trumpinator….
Never mind the fact that a leading economist at Harvard says that this disaster “will be a touchstone of disastrous policies for decades to come.”
Those disastrous policies have NOTHING to do with socialism, or Cuba.
Zimbabwe’s collapse under Robert Mugabe. The fall of the Soviet Union. Cuba’s disastrous unraveling in the 1990s.
The crumbling of Venezuela’s economy has now outpaced them all.
Venezuela’s fall is the single largest economic collapse outside of war in at least 45 years, economists say.
“It’s really hard to think of a human tragedy of this scale outside civil war,” said Kenneth Rogoff, an economics professor at Harvard University and former chief economist at the International Monetary Fund. “This will be a touchstone of disastrous policies for decades to come.”
To find similar levels of economic devastation, economists at the I.M.F. pointed to countries that were ripped apart by war, like Libya earlier this decade or Lebanon in the 1970s.
But Venezuela, at one point Latin America’s wealthiest country, has not been shattered by armed conflict. Instead, economists say, the poor governance, corruption and misguided policies of President Nicolás Maduro and his predecessor, Hugo Chávez, have fueled runaway inflation, shuttered businesses and brought the country to its knees. And in recent months, the Trump administration has imposed stiff sanctions to try to cripple it further.
As the country’s economy plummeted, armed gangs took control of entire towns, public services collapsed and the purchasing power of most Venezuelans has been reduced to a couple of kilograms of flour a month.
In markets, butchers hit by regular blackouts jostle to sell decomposing stock by sunset.
Former laborers scavenge through garbage piles for leftovers and recyclable plastic. Dejected retailers make dozens of trips to the bank in hopes of depositing several pounds’ worth of bills made worthless by hyperinflation.
Here in Maracaibo, a city of two million on the border with Colombia, nearly all of the butchers in the main market have stopped selling meat cuts in favor of offal and leftovers like fat shavings and cow hooves, the only animal protein many of their customers can still afford.
Continue reading HERE for more horrifying details, more images, and more excuses for the horror…