In 1959 Venezuelans on average were 10% richer than Americans

damn tariffs

What does this have to do with tariffs?

quote:

---

Interesting facts

---

Fwiw though,

Venezuelan GDP per capita in 1960 was $1072 LINK.

US GDP per capita in 1960 was $3007 LINK.

I bet it was Bc of tariffs

OP gets shite on because of his tariff obsession, but he's consistent in opposing government intervention into the economy and Venezuela is a great example of the dangers of central economic planning.

quote:

---

Overeliance on oil
Fractured political system

=collapse

---

Lol no, it’s Socialism

quote:

---

no, it's Socialism

---

Socialism falls flat unless you have an adroit practitioner like Alex or Bernie to make it work.

quote:

---

Socialism falls flat unless you have enough rich people to steal from to make it work.

---

FIFY.

quote:

---

Interesting facts that illustrate the decline that country has suffered.

---

Maybe so, but remember this, the Venezuelans did this to themselves. Chavez never made a secret about who he was....a stupid socialist, but he did not run as some sortof American democratic party type and then muscled in a socialist government. He went about Venezuela and said ....hey muchachos, I'm a socialist!!!!! Now let's go and get the rich people's money and nationalize the oil industry and put price controls in.....and the masses said Yeah!!!!!

If prior Venezuelan governments were not so damned corrupt and did not steal so much and neglect the people/masses Chavez probably is not so attractive in the late 1990's

Also, while Venezuela may have some of the largest if not the largest oil reserves in the world, it's something of a misnomer......it's also the most expensive to refine....it's the heavy stuff

It is simply a quote from the article. He has a reference to the claim. If it is wrong shoot him and email. I have already ask for a better link from him in comments.

Nevertheless the decline in the Venezuelan economy relative to the rest of the world is startling.