The IMF’s got it wrong here about Venezuela

The International Monetary Fund tells us that Venezuela’s GDP has fallen by 50% since 2013. This is incorrect, it has fallen by much more than that. For, absent the oil extraction industry, Venezuela simply doesn’t have an economy any more, not in any modern sense of that word.

12 thoughts on “The IMF’s got it wrong here about Venezuela”

  1. Does Maduro still have his weekly TV show where he does karaoki?

    We likely all know about the pudgy dimwitted billionaire daughter of Chavez – but if one fat bint with no discernible skills can get a wedge like that in the bank – what about the rest of the “socialists”?

    When I was in Venezuela I heard regularly about the expropriation of property by Chavista “revolutionaries” – mostly desirable apartments in Caracas coveted by “comrades with connections”

  2. In the Guardian commentators both above and below the line are arguing that Venezuelan socialism isn’t real socialism, despite the fact that prior to inevitably going tits up they were loudly proclaiming how successful this iteration of socialism was and an example to the world. My question is, if we accept that it wasn’t full socialism ie it was half fat or diet socialism, how bad would the full fat or non diet socialism be ?Secondly why does socialism have such a grudge against toilet paper?

  3. Even if we accept that Venezuela was/is not real socialism, can someone come up with a reliable test to identify the real thing before implementing anything so described. That is before risking poverty starvation and death from some immitation.
    Clearly Corbyn, Livingstone and Owen are unaware of any such test or they would have been denouncing Chavez from the start.

  4. It’s religion. God gets credit for all that is good. Any thing bad, it’s not His fault, cos reasons.

    Socialism good. Anything bad is not only not socialism’s fault, it’s NOT EVEN SOCIALISM!

  5. Bloke in North Dorset

    I presume Owen’s putting together an International Brigade to go and save the great Socialist Experiment and his hero Madura as we speak?

    Or is he still sucking after his last Brilloing?

  6. @PJF January 26, 2019 at 4:39 pm

    With so many lies in Twattygraph article now apologised for, one wonders if there was anything true

  7. Judging by the photo the Torygraph has chosen to use of Melania Trump resembles the packaging on a poor quality Chinese inflatable sex doll one suspects the apology was not overly sincere

  8. No doubt, bloke in spain, but judging by the apology’s breadth and depth I expect the lawsuit was very sincere indeed.

    …poor quality Chinese inflatable sex doll…

    Whatever that is, m’lud.

    (Judge) That’s the one without the real hair and the…

  9. “Pat

    Even if we accept that Venezuela was/is not real socialism, can someone come up with a reliable test to identify the real thing”

    Pat, real socialism is just before it goes tits-up.

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