So Venezuela did not run up a debt to increase the living standards of the poor. What they did was they started charging big oil companies more than a token amount of royalties for Venezuelan oil and then spent that money on health care, education, housing increasing the productivity of Venezuelans. Compare that to the US, which in 2008, bailed out failing banks by borrowing more money and ran the national debt through the roof. Sooner or later Americans are going to have to pay their bills and when that day comes, then you can say how well unrestrained greed and capitalism work.
I admit I am a socialist, but not the way you think socialism works (or doesn't work). Like Hugo Chavez, I am fiscally conservative. I don't believe in deficit financing. INterest is a waste of money. I believe in increasing taxes to pay for social programs that raise productivity and care for the sick and elderly. The more you earn, the more you should pay. I am against minimum wage provided that a minimum living standard is guarenteed. Basic food, clothing, shelter and health care should be free, so a minimum wage is not required to have a minimum living standard. I also believe in free merit based post secondary education. I am against welathy billionaires like Mitt Romney paying no taxes or less taxes than single mothers working 3 part time jobs to scrape by. If the money is made in Canada than it gets taxed by Canada. If any billionaire Canadians want to leave, feel free, just make sure you pay your taxes first before leaving and any money you make in Canada still gets taxed by Canada. Want to ship jobs off to the third world? Feel free. Good luck with third world instability, corruption and an uneducated work force.
Many people here in Canada and the US don't realize that we've had class warfare for several decades now. The wealthiest people have been getting wealthier at the expense of a shrinking middle class and growing lower class. I'm in favor of new wealth going mostly to the poor and middle class and increasing the taxes of the wealthiest people. The more you make the more you pay. If you live at or below the poverty line you should be a net tax recipient.
Well there is statistics enough for all around.
My stats show Venezuelas total debt rising from 35B in 2002 to 76B in 2010
Domestic debt rose from 12B in 2002 to over 37B in 2010.
But your right many western nations have similar or worse debt records.
When I said Chavez looted the treasury what I ment was he seized control of all national assets (including the treasury) for use as he personally saw fit with zero oversight.
Chavez was democratically elected but runs the country like a dictator, he personally controls all the levers of power and commerce.
You admit to being a Socialist and yet you have not addressed my question of living and working in a Socialist nation.
Plane tickets are cheap.
You retain your Canadian passport as a safety net.
If you have not lived and worked in a nation like Cuba or Venezuela why not?
Oil exports provide between 80 and 90% of Venezuelas cash flow.
They have, some say, the largest reserves of oil in the world.
And Chavez with more luck than skill took control of Venezuela just as oil prices skyrocketed.
PDVSA's oil production has plunged under Chavez from 3.3mBPD to around 2mBPD today. Why?
Massive brain drain is ongoing in both Cuba and Venezuela. Why?
Both Cuba and Venezuela try to curb the departure of educated nationals to other countries. Why?
National infrastructure development is down. Why?
O&G exploration and development is down. Why?
Foreign investment in Venezuela has dropped. Why?
Venezuela now needs to go cap in hand to non democratic vested interest nations like China and Russia for investment capital.Why?
Crime is up in Caracas, the capital. Why?
Tourism in Venezuela has not kept pace with gains made by nearby countries. Why?
My friends and aqaintances in Cuba and Venezuela never stop checking out emmigrating, that or they have already left. Why?
And so on.
I liked my time spent in Venezuela, it has some of the friendliest people in SA.
Combine that with unbIelievably hot chicks and whats not to like.
I also enjoyed living in house just off the beach in Cuba.
Like I said I am not really into slagging Socialist nations.
And they do tend to channel greater resources to the poor.
But having said that I do prefer living in Canada.
Again I have to ask, if you are a Socialist advocating Socialism in Canada why on earth would you not go and spend time in the Socialist heartlands?
Planes are cheap, casa's and casa particular's are dirt cheap.