As reported in Reuters, a 3 university study of conditions in Venezuela has shown that 90% of citizens now live in poverty. But socialism can only achieve so much. The other 10% must suffer in abject affluence so that the 90% can have income equality.
Venezuela was once one of the most prosperous nations in the world, blessed with ample natural resources and a nice climate (sound familiar). Venezuela has the largest proven oil reserves in the world, totaling 297 billion barrels as of 1 January 2014 and as such, should be one of the wealthiest countries in the world.
Good thing socialism works, doesn’t it.
Let’s just remember. The rules are:
- It’s not the results that count. It’s the intentions.
- If it does not work, it was either those evil capitalist or there were insufficient government powers.