John McDonnell has told the Davos World Economic Forum that Venezuela is in crisis because it “took a wrong turn” and strayed from the “socialist path.” Speaking to a gathering of global business and political leaders, sworn Marxist McDonnell joked that he “always gets thrown” questions on Venezuela – the collapsing hard left state he and Jeremy Corbyn have valorised for decades. Labour’s Shadow Chancellor said:

“I think would have been successful if they had actually mobilised the oil resources… I think in Venezuela they took a wrong turn, not a particularly effective path and not a socialist path.”

McDonnell’s ‘oil reserves’ explanation was comprehensively debunked last summer when the Venezuela crisis was severely embarrassing the Labour leadership. Top thought leadership from Davos man McDonnell…