As socialism shattered Venezuela, the useful idiots
As socialism shattered Venezuela, the useful idiots applauded
Irama Carrero was aided by fellow shoppers after fainting
in a food line outside a grocery store in Caracas earlier this year.
When the Cold War ended 25 years ago,
the Soviet Union vanished into the ash heap of history.
That left the West’s “useful idiots” — Lenin’s term for the ideologues and toadies who could always be relied on to justify or praise whatever Moscow did — in search of other socialist thugs to fawn over. Many found a new heartthrob in Hugo Chavez, the anti-Yanqui rabble-rouser who was elected president of Venezuela in 1998 and in short order had transformed the country from a successful social democracy into a grim and corrupt autocracy.
An avowed Marxist and protégé of Fidel Castro, Chavez gradually seized control of every lever of state power in Venezuela. The constitution was rewritten to strip the legislature and judiciary of their independence, authorize censorship of the press, and allow Chavez to legislate by decree. Before long, the government acquired a stranglehold over the economy, including the huge and profitable energy sector. (Venezuela has the largest oil reserves in the world.)
With petrodollars pouring in, Chavez had free rein to put his statist prescriptions into effect. The so-called Bolivarian revolution over which he — and later his handpicked successor, Nicolas Maduro — presided, was an unfettered, real-world example of anticapitalist socialism in action. Venezuela since at least the 1970s had been Latin America’s most affluent nation. Now it was a showpiece for command-and-control economics: price and currency controls, wealth redistribution, ramped-up government spending, expropriation of land, and the nationalization of private banks, mines, and oil companies.
And the useful idiots ate it up.
In a Salon piece titled “Hugo Chavez’s economic miracle,” David Sirota declared that the Venezuelan ruler, with his “full-throated advocacy of socialism,” had “racked up an economic record that . . . American president could only dream of achieving.” The Guardian offered “Three cheers for Chavez.” Moviemaker Oliver Stone filmed a documentary gushing over “the positive changes that have happened economically in all of South America” because of Venezuela’s socialist government. And when Chavez died in 2013, Jimmy Carter extolled the strongman for “improving the lives of millions of his fellow countrymen.”
In the real world, however, socialism has transformed Venezuela into a Third World dystopia.
Venezuela this Christmas is sunk in misery, as it was last Christmas, and the Christmas before that. Venezuelans, their economy wrecked by statism, face crippling shortages of everything from food and medicine to toilet paper and electricity. Violent crime is out of control. Shoppers are forced to stand in lines for hours outside drugstores and supermarkets — lines that routinely lead to empty shelves, or that break down in fistfights, muggings, and mob looting. Just last week the government deployed 3,000 troops to restore order after frantic rioters rampaged through shops and homes in the southeastern state of Bolivar.
In the beautiful country that used to boast the highest standard of living in Latin America, patients now die in hospitals for lack of basic health care staples: soap, gloves, oxygen, drugs. In some medical wards, there isn’t even water to wash the blood from operating tables.
Socialism invariably kills and impoverishes. Gushing oil revenues amid a global energy boom could temporarily disguise the corrosion caused by a government takeover of market functions. But only temporarily. The Chavez/Maduro “Bolivarian revolution” has been economic poison, just like every other Marxist “revolution” from Lenin’s Russia to Kim Il Sung’s North Korea to the Castros’ Cuba. By shredding property rights, dictating prices, and trying to control supply and demand, socialist regimes eventually make everything worse and virtually everyone poorer. Conversely, when governments protect free markets and allow buyers and sellers to interact freely, prosperity expands.
For three years in a row, Venezuela has ranked No. 1 on the Cato Institute’s “misery index,” which ranks each of the world’s countries according to a formula that adds its unemployment, interest, and inflation rates, then subtracts its annual change in gross domestic product per capita. With Venezuelan currency virtually worthless — hyperinflation this year is estimated at higher than 700 percent — residents have to resort to humiliating workarounds. Reuters reported this month that Venezuelan women have been flocking across the border into Colombia and selling their hair to earn some money with which to buy food, medicine, or diapers.
The government in Caracas, meanwhile, clings tightly to its socialist dogma, blaming the country’s woes on Colombia’s mafia or greedy businessmen. A fortnight ago, government agents raided a toy distributor, confiscating nearly 4 million toys on the grounds that the company was planning to sell them at inflated prices. The regime says it will make the toys available at below-market prices to the poor — thereby ensuring that in Venezuela next Christmas, toys won’t be available at any price. If nothing else, Venezuelan socialism has accomplished this much: It has transformed the Grinch from fiction into reality.
1
Featured stocks: Coffee Shoppe
For conservative debate: "Keeping it Real"
Game Changing stock $SHMP
Scroll down for more posts ▼
Top 10 Most Recent News Articles
A Bold Play in the Global Arena There's something big brewing on the horizon, as Haier aligns with the UEFA Champions League. From 2027 to 2031, this move isn't just about slapping a logo on a jersey. Nah, it's more than that. Haier's stepping up its game, aiming to become a real player in weaving technology and sports into the daily lives of millions. "We aim to bring...
Continue Reading
AI Expansion at EcoHash: A Strategic Stride Some days you wake up, read a company pushing its legacy into something new, and you just gotta wonder if they’ve hit paydirt or just blowing smoke. For Cango Inc. and its subsidiary EcoHash, this latest update is shaping up interesting. They're no small potatoes in mining Bitcoins, but they're now trying their hand at AI...
Continue Reading
SSDs Take Center Stage in Storage Evolution Howdy, storage folks! It's 2026, and one thing's for sure—SSDs are strutting their stuff at the top of the storage heap. According to the latest report by EaseUS Software, the dominant drive isn't about sheer size anymore. We've moved on to smarter space management. Now hear this: 79.73% of Windows system drives are rocking...
Continue Reading
A Behind-the-Scenes Drama Over Lobbying Disclosure Something's fishy beneath the surface of Smithfield Foods' recent lobbying debacle. The Center for Responsible Food Business (CRFB) has turned the spotlight on some shady practices, and folks, it ain't pretty. Smithfield's lobbyists had been ducking disclosure rules apparently meant to keep track of foreign influence. Who...
Continue Reading
Elevating Maternity Fashion with PinkBlush's Fall 2026 Line You know, it's not every day you see maternitywear aiming to push the envelope, but that's exactly what PinkBlush is doing this fall. They've unleashed their Fall 2026 collection, and let's just say, it's less about the frills and more about redefining what expecting mothers can expect from the fashion world. A...
Continue Reading
A Handy Revolution in AI Computing You know, every now and then, a gadget shows up that flips the scene on its head. Enter TrustKernel's PlugClaw. It's not every day you see a whole computer in something barely the size of your thumb, yet this one does exactly that. Weighing in at a measly 15 grams and armed with a MediaTek Helio G80, we're looking at a USB-C stick that's...
Continue Reading
Investors Take Aim: A Legal Showdown on the Horizon There's a brewing storm over at PROCEPT BioRobotics—ticker NASDAQ:PRCT if you're tracking. These folks are knee-deep in a securities class action lawsuit from investors who’ve taken a financial wallop. The lawsuits are triggered by allegations of shady sales techniques that artificially bumped up their unit sales...
Continue Reading
Data Accuracy in Healthcare: A Persistent Problem Just when you think data's about numbers and cold, hard facts, healthcare jolts you awake. Perspecta's fresh insights onto provider data accuracy aren't just a snooze fest of statistics but a genuine wake-up call. This report peels open a can of worms some might prefer to ignore. With only half of provider data accurate,...
Continue Reading
Regeneron Investors Grit Teeth Amid Lawsuit Drama The gloves are off in the pharmaceutical battleground, folks. Investors who thought they were riding the big wave with Regeneron Pharmaceuticals (NASDAQ: REGN) are now staring down the barrel of a class action lawsuit. It seems the company’s been caught in a storm of legal action following allegations of misleading...
Continue Reading
Lyntris and KSAT: A Technological Feat in Space Connectivity Well, if it ain't Lyntris back in the headlines again, pushing the envelope on space connectivity. If you're keeping tabs on the space tech space, there's a cracker of a development brewing. Lyntris Inc. (NYSE: LYNX) just checked off a crucial box in their playbook—the Critical Design Review, or CDR for those...
Continue Reading
Top 5 Most Recently Viewed Articles
On Presidents' Day, President Donald Trump touted a cooling economy and celebrated inflation dropping to an eight-month low of 2.4%. But while he proclaimed that prices are 'Way Down,' the reality shows some serious discrepancies that traders need to unpack. Inflation's Tug of War: The Real Numbers The Bureau of Labor Statistics delivered January's inflation rate at 2.4%,...
Continue Reading
Analyzing Recent Trends in United Airlines Holdings Inc's Short Interest United Airlines Holdings Inc (NYSE: UAL) has recently experienced a notable decrease in its short interest as a percentage of its outstanding shares. This metric has fallen by 6.22% according to the latest exchange data. Currently, there are approximately 11.17 million shares sold short, which...
Continue Reading
Recent Auction Results for Treasury Bills Understanding the results of treasury bill auctions is vital for anyone investing in fixed income securities. The auction results from the most recent activity showcase various key metrics that influence market dynamics. This article discusses these results in detail while analyzing the potential implications for investors. Key...
Continue Reading
Transocean Stock Performance Amid Market Changes Transocean Ltd (NYSE: RIG) has encountered a decline in its share price recently. As a key player in the offshore drilling sector, the company has felt the impact of significant shifts in the energy market due to geopolitical developments and weather forecasts. Market Influences on Transocean The turbulence in Transocean's...
Continue Reading
Short Shorts Film Festival & Asia 2025 Overview The Short Shorts Film Festival & Asia is renowned for its vibrant display of creativity and film artistry. In 2025, this highly esteemed festival will feature a remarkable lineup of approximately 250 films selected from an impressive 4,592 submissions. This diverse array of films captures the imagination and reflects the...
Continue Reading