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  1. #1 "Capitalist parasites": Venezuela jails 100 'bourgeois' businessmen in crackdown 
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    Venezuela jails 100 'bourgeois' businessmen in crackdown

    http://www.reuters.com/article/2013/...Name=worldNews

    Nov 14 (Reuters) – Venezuela’s socialist government has arrested more than 100 “bourgeois” businessmen in a crackdown on alleged price-gouging at hundreds of shops and companies since the weekend, President Nicolas Maduro said on Thursday.

    “They are barbaric, these capitalist parasites!” Maduro thundered in the latest of his lengthy daily speeches. “We have more than 100 of the bourgeoisie behind bars at the moment.”

    The successor to the late Hugo Chavez also said his government was preparing a law to limit Venezuelan businesses’ profits to between 15 percent and 30 percent.

    Officials say unscrupulous companies have been hiking prices of electronics and other goods more than 1,000 percent. Critics say failed socialist economic policies and restricted access to foreign currency are behind Venezuela’s runaway inflation.

    “Goodyear has to lower its prices even more, 15 percent is not enough, the inspectors have go there straightaway,” Maduro said in his evening address, sending officials to check local operations of the U.S.-based tire manufacturer.

    Since the weekend, soldiers and inspectors have gone into 1,400 shops, taken over operations at an electronics firm and a battery-making company, and rounded up a handful of looters.
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  2. #2  
    PORCUS MAXIMUS Rockntractor's Avatar
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    They will soon be on par with Cuba, any business people that can leave should, let them rot in their welfare state hellhole. They deserve it, they voted for it.
    This is or future America.
    How is obama working out for you?
    http://i686.photobucket.com/albums/vv230/upyourstruly/5d569df9-186a-477b-a665-3ea8a8b9b655_zpse9003e54.jpg
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  3. #3  
    eeeevil Sith Admin SarasotaRepub's Avatar
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    I bet the DUmmies are thrilled!!!
    May the FORCE be with you!
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  4. #4  
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    Quote Originally Posted by SarasotaRepub View Post
    I bet the DUmmies are thrilled!!!
    Let's think about this. The less legitimate commerce and manufacturing the more oil Venezuela has to sell to prop up the "middle class". The more they pump, the cheaper gasoline gets unless somebody else cuts back, right?
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    LTC Member Odysseus's Avatar
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    Quote Originally Posted by Novaheart View Post
    Let's think about this. The less legitimate commerce and manufacturing the more oil Venezuela has to sell to prop up the "middle class". The more they pump, the cheaper gasoline gets unless somebody else cuts back, right?
    Uh, no. First, Venezuela's oil production is dropping, due to the exodus of skilled workers and the failure to reinvest in oil infrastructure. The consequence of this is that they aren't going to be able to make up the shortfall via oil revenues.
    Venezuela’s annual oil production has declined since Mr. Chávez took office in 1999 by roughly a quarter, and oil exports have dropped by nearly a half, a major economic threat to a country that depends on oil for 95 percent of its exports and 45 percent of its federal budget revenues.
    “Venezuela’s clout on OPEC and on world oil prices has been greatly diminished because of its inability to exploit its enormous resources,” said Michael Lynch, president of Strategic Energy and Economic Research, a consultancy. “In the 1990s, their production was booming and they could thumb their nose at Saudi Arabia and get away with it, but now they have become OPEC’s poor cousin.”

    In a fundamental geopolitical turn, Venezuela now relies far more on the United States than the United States relies on Venezuela.

    Venezuela depends on the United States to buy 40 percent of its exports because Gulf of Mexico refineries were designed to process low-quality Venezuelan and Mexican crudes that most refineries around the world cannot easily handle. But in recent years, the United States has been replacing its imports of Latin American crudes with oil from Canadian oil sands fields, which is similarly heavy.

    http://www.nytimes.com/2013/03/09/wo...shed.html?_r=0
    The numbers are particularly damning.
    Oil Production Venezuela -
    http://www.energyinsights.net/cgi-sc...062/006276.htm
    from 1965 and forecast to 2015 - note steep decline since 1997 shows no signs of slowing despite higher oil prices. We expect Venezuela oil production to continue to decline - a massive increase in investment is required to reverse this decline, something we believe is unlikely in the current global economic climate.



    These crackdowns are the result of desperation. Venezuela's economy is tanking, and Maduro doesn't know how to fix it, so he's scapegoating everyone that he can find and destroying businesses in order to throw cheap consumer goods to the mob. Think of it as Obamacare as applied to the entire Venezuelan economy.
    --Odysseus
    Sic Hacer Pace, Para Bellum.

    Before you can do things for people, you must be the kind of man who can get things done. But to get things done, you must love the doing, not the people!
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  6. #6  
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    Quote Originally Posted by Odysseus View Post
    Uh, no. First, Venezuela's oil production is dropping, due to the exodus of skilled workers and the failure to reinvest in oil infrastructure. The consequence of this is that they aren't going to be able to make up the shortfall via oil revenues.
    Venezuela’s annual oil production has declined since Mr. Chávez took office in 1999 by roughly a quarter, and oil exports have dropped by nearly a half, a major economic threat to a country that depends on oil for 95 percent of its exports and 45 percent of its federal budget revenues.
    “Venezuela’s clout on OPEC and on world oil prices has been greatly diminished because of its inability to exploit its enormous resources,” said Michael Lynch, president of Strategic Energy and Economic Research, a consultancy. “In the 1990s, their production was booming and they could thumb their nose at Saudi Arabia and get away with it, but now they have become OPEC’s poor cousin.”

    In a fundamental geopolitical turn, Venezuela now relies far more on the United States than the United States relies on Venezuela.

    Venezuela depends on the United States to buy 40 percent of its exports because Gulf of Mexico refineries were designed to process low-quality Venezuelan and Mexican crudes that most refineries around the world cannot easily handle. But in recent years, the United States has been replacing its imports of Latin American crudes with oil from Canadian oil sands fields, which is similarly heavy.

    http://www.nytimes.com/2013/03/09/wo...shed.html?_r=0
    The numbers are particularly damning.
    Oil Production Venezuela -
    http://www.energyinsights.net/cgi-sc...062/006276.htm
    from 1965 and forecast to 2015 - note steep decline since 1997 shows no signs of slowing despite higher oil prices. We expect Venezuela oil production to continue to decline - a massive increase in investment is required to reverse this decline, something we believe is unlikely in the current global economic climate.



    These crackdowns are the result of desperation. Venezuela's economy is tanking, and Maduro doesn't know how to fix it, so he's scapegoating everyone that he can find and destroying businesses in order to throw cheap consumer goods to the mob. Think of it as Obamacare as applied to the entire Venezuelan economy.
    Interesting. I was surprised that oil was only 45% of federal revenues. I thought it was pretty much paying the bills for all of Chavez' "social justice" programs aka welfare. I knew that Venezuelan oil was dirty, because now and then there is debate about that around here with regard to what we use to generate power.
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  7. #7  
    LTC Member Odysseus's Avatar
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    Quote Originally Posted by Novaheart View Post
    Interesting. I was surprised that oil was only 45% of federal revenues. I thought it was pretty much paying the bills for all of Chavez' "social justice" programs aka welfare. I knew that Venezuelan oil was dirty, because now and then there is debate about that around here with regard to what we use to generate power.
    It's actually surprising that as much as 45% of Venezuelan federal revenues come from oil exports. Venezuela used to have a robust private sector that supported to a large tax base. The erosion of that private sector has crippled tax collection, to the point where oil revenues now make up almost half of the government's budget. That's a staggering collapse.
    --Odysseus
    Sic Hacer Pace, Para Bellum.

    Before you can do things for people, you must be the kind of man who can get things done. But to get things done, you must love the doing, not the people!
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  8. #8  
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    Quote Originally Posted by Odysseus View Post
    It's actually surprising that as much as 45% of Venezuelan federal revenues come from oil exports. Venezuela used to have a robust private sector that supported to a large tax base. The erosion of that private sector has crippled tax collection, to the point where oil revenues now make up almost half of the government's budget. That's a staggering collapse.
    But they can't admit it, because admitting the collapse is due to socialism being an utter failure would result in THEM being taken to the guillotines
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