Venezuela: Socialist Paradise Update


How is the loony Labour left’s latest favourite socialist paradise Venezuela faring? Not since Gadaffi have we had an oil rich socialist paradise in the making to set an example for us running dogs of capitalist imperialismo. Socialism should surely work when you are floating on billions in oil wealth – just share it out comrades! Venezuela has the world’s largest proven oil reserves at 298 billion barrels – that is more than Saudi Arabia or the UK’s measly 6.9 billion barrels – untold riches. Yet according to Bloomberg data:

  • Oil production has declined by 27.2% over the last decade. Production declining…
  • GDP growth in 2013 was 1.3%. In 2004 it was 18.3%. Growth slowing…
  • The country’s inflation rate in May 2014 (61%) was the highest in the world. Iran was second and Argentina third. Venezuela leads the world in inflation…
  • The bolivar, the national currency, has fallen 88% since 2008. Devaluing…
  • Foreign exchange reserves have fallen by 51% since 2008 to $20 billion. Cash running out…
  • In 2012 it 22% of families lived below the poverty line, last year it was 27%. Poverty is rising…
  • Meat production is down 36% this year. Dieting…
  • In January 2014 there was a 28% shortage of basic goods, compared with 8% in 2005. More people queuing…

Guido has just finished reading the new book from “our generation’s Orwell”, Comrade Owen Jones, in which he advocates sweeping nationalisation with currency and capital controls. Like they have in Venezuela…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

A senior Leaver tells Guido:

“Remainers have been outgunned. They were telling us EEA was nailed on and Spreadsheet Phil was going to get a 5 year transition.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Hammond Overspending by Just £10 Million an Hour Hammond Overspending by Just £10 Million an Hour
Momentum Soft Smut Snapper Rejected as Labour Candidate Momentum Soft Smut Snapper Rejected as Labour Candidate
All Smiles After Cabinet All Smiles After Cabinet
Who’s The Eye’s Telegraph Mole? Who’s The Eye’s Telegraph Mole?
UK Green Lobby Funded by Anti-Immigrant Multi-Millionaire UK Green Lobby Funded by Anti-Immigrant Multi-Millionaire
Tory Glasto Hosted by Multi-Millionaire Gambling Magnate Tory Glasto Hosted by Multi-Millionaire Gambling Magnate
Hammond and Treasury “On Manoeuvres” Against Brexit Hammond and Treasury “On Manoeuvres” Against Brexit
Osborne Lands Job Number Seven Osborne Lands Job Number Seven
Civil Service ‘Not Really Preparing’ For No Deal Civil Service ‘Not Really Preparing’ For No Deal
Osborne’s Latest Duff Analysis Osborne’s Latest Duff Analysis
Corbynista Journo Banned from Conference Corbynista Journo Banned from Conference
Sheerman’s Shameless Shilling Sheerman’s Shameless Shilling
Carwyn Jones Picks a Winner Carwyn Jones Picks a Winner
Red Robbins: May’s Brexit Supremo is Soviet Sympathiser Red Robbins: May’s Brexit Supremo is Soviet Sympathiser
Owen Goes Full Brent Owen Goes Full Brent
What Caused Rachel Sylvester’s Volte Face? What Caused Rachel Sylvester’s Volte Face?
Labour Moderates Screwed Labour Moderates Screwed
WATCH Boris: “I’m Not Resigning” WATCH Boris: “I’m Not Resigning”
Corbynistas Seek Right to Suspend NEC Elections With “Venezuela Amendment” Corbynistas Seek Right to Suspend NEC Elections With “Venezuela Amendment”