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After Party Loss, Venezuela's Maduro Vows to Continue "Socialist Revolution"


After Party Loss, Venezuela's Maduro Vows to Continue "Socialist Revolution"

Nadia Prupis, staff writer

Venezuela's right wing won a majority of seats in the country's National Assembly on Sunday, signalling a major political shift that President Nicolas Maduro said would not suppress Latin America's socialist revolution.

"This is not the time to cry," Maduro said Sunday, conceding to opposition leaders from the Mesa de la Unidad Democrática (MUD) party, who claimed 99 out of 167 seats, though they may gain more as the ballots continue to be tallied. "It's the time to fight."


Unbelievable. So sorry.


The results don't surprise me. They made the economy scream and to adapt the USAn expression, the people cried "Tio" (Sam?).

Now watch as the shortages magically vanish, and inflation subsides, even before the new government changes any policies!


No one had to help them destroy the economy, The Chavezistas proved quite adept at doing it themselves. Guess the chickens have come home to roost.


And the IMF loans will indenture the people so that there will be a rollback of Venezuela's progress. I can see the oil for doctors programme disappearing as well as the education policies that have raised the literacy rates. This is the low point of this year (and maybe longer) beating out Greek's capitulation and Le Pen's victory by a hair.
I am so glad I got the chance to go there while Hugo was alive. Now bittersweet. But as Maduro said, "N.M.“The struggle for socialism is just beginning-we are experts in
starting over, we came from the streets, we are the ppl of difficulties""


So, I take it that the economy was great before 1998 for most Venezuelans? Access to basic services was much higher, inequality less, literacy higher, the oil money went to fund actual development? Inflation wasn't an issue before Chavez, right? Violent crime wasn't really an issue? Economic sabotage hasn't been constant and we don't know this without any doubt thanks to documents from the NED and the CIA? The policies that the opposition wants to put into place have been proven to also benefit the average Venezuelan citizen?

Also, when it comes to the opposition and the oligarchy, how did they make their money? Where did their wealth come from? At least they possibly got their baby back, the oil money. Surely it will be spent in a way that benefits the country collectively and not themselves. They learned from their past mistakes, right?

People like yourself make arguments as if the problems that Venezuela is dealing with just emerged after 1998, that no (clear) progress has been made since then and that the (largely neoliberal) opposition's policies have a snowballs chance in hell in being anything but a disaster, just like they were in Venezuela before 1998 and have been the world over in the post WWII era. You also talk as if Venezuela isn't dealing with problems that most every other poor, developing country is dealing with. Are right wing Mexico, Honduras and Colombia paradises?

The fundamental problems that Venezuela is dealing with emerged decades ago and the right wing has no answer, nor do they care to provide one. They want the oil money and their power back. Come back in, say, two years and let's talk about all the economic progress that has been made. Gonna be a nightmare.


Que Paso? Exactly!


Blah Blah Blah. No, Venezuela was screwed up before, just really screwed up now. Inflation has gone from 19% Pre Chavez to 200% now. Murder rate is up 500 % . Bolivar has gone from almost one to the dollar to 920 to the dollar. Oil production has fallen 35 %, capital reserves have fallen by 70% , average wage is worth $20 mo in purchasing power ect ect ect.

Anyone who ever passed Economics 101 has seen this coming for a very long time. I applaud and recognize the things that have been done right, more political power to the poor ( many of them exercised that right last night) better access to healthcare, increased literacy.

No use throwing the baby out with the bathwater...but something needs to be done to fix the economy and re establish some law to protect the average citizen. I guess we will see.


Blah blah blah, wonderful way to make a point. As if you are spitting out nuggets of wisdom and not the type of argument people have mouthed a thousands times over. Sorry, what would econ 101 do for a person when what they teach has no basis in reality? I have a background in economics, try and research what assumptions are needed for a straight line demand curve at the micro level. If you want some real comedy, look at the assumptions needed for a straight line demand curve at the macro level. If you want to live in an alternative universe, look at the assumptions needed for general equilibrium and perfect competition. That is what they teach in neoclassical econ 101, utter bullshit.

Haven't a clue where you get your inflation numbers, probably made up. Infation was much worse in pre-Chavez Venezuela than it has been for the overwhelming majority of the time since 1998. http://benjaminstudebaker.com/2013/03/06/venezuela-under-chavez/

Violent crime in Venezuela, especially Caracas, has been a massive problem for decades, the same is true of neighboring right wing Colombia as well, Central America, etc. Don't know where, again, you get your 500% from, but is a real long term problem, but not unique to the country. Reserves have fallen to be sure but so have oil revenues thanks to collapsing prices.

Venezuela's problems are largely found in other poor countries, pre-date Chavez and the advancements in health care, education, a more equitable economy, are huge. They didn't exist before he was elected and will be reversed if the opposition gets its way.

Venezuela's problems are (in addition to the above): 1. Their horrible oligarchy as well as their foreign supporters. 2. Trying to institute socialism in a capitalist world economy with little help from other countries. 3. A over-reliance on oil money, especially a problem when the price of oil collapses. The opposition will face the same problems but, since they don't care about that money actually funding development and lessening inequality, they won't care that much.

As I said, whatever you want to say about the Bolivarian Revolution, the situation will get worse for the average Venezuelan if the opposition gets its way. Inflation may go down a bit (although it may not, since it isn't a new problem), some goods may become available that aren't now (especially luxury items for the rich, which will drain foreign currency reserves further) but a lot of the progress that you gloss over will be reversed which will far outdo any improvements in those areas for the average Venezuelan. The right wing is THIS close to getting its baby, the oil money, back.

Any rate, flesh out what the opposition's economic program is and explain how it will improve the situation and be a net benefit for the average Venezuelan. Teach me.


Yeah, I have a degree in Economics and could spit out intelligent sounding sound bites if I felt like it, but I know I won't be impressing anyone. Those are the U.N's figures, if you don't like them...take it up with them.

I have no idea what the opposition's idea's are to fix the economy, and whatever they do, even if it is the exact right thing to do (which I doubt) it will take a long time to fix. I don't pretend to "teach" anyone anything.

If it was me, I'd try to do the following..

  1. Re establish law, criminal, civil and contractual.

  2. Stop expropriating businesses for political purposes.

  3. Devalue the Bolivar and cut it loose from the insane, complicated exchange rate that is now used.

  4. Stop selling gasoline for 10 cents a gallon. (smugglers dream).

  5. Diversify the economy. Venezuela used to produce things..now they just pump high sulphur, hard to refine oil. 95% of government revenue is nuts.

  6. Crack down on corruption, and not just against your political foes.

  7. Do away with most price controls, and stop trying to make people sell items for less than it costs to produce. The smugglers will hate this of course.

  8. Attract foreign investors, with deals that will be beneficial to both sides.

  9. Get a handle on PVSA. Someone needs to explain how they can more than double their payroll and pump 35 % less oil. Fire the political hacks and bring back the oil experts.

10.Explain to the people what is needed to fix the economy,that it will probably cause even worse inflation in the short run, and that the country is faced with a giant crap sandwich...and everybody will have to take a bite.


I didn't ask you to impress anyone. I was telling you that the economics they teach is bullshit and has no basis in reality. Econ 101 wouldn't do dick to explain what is happening in Venezuela.

Your list there is just wonderful. Some of it obvious, some of it has negative consequences you seem to gloss over. The problem is how to do something like diversifying the economy, the big one. Yes, diversifying the economy would be wonderful, and you can't say that Venezuela since 1998 hasn't tried to do that. The problem is that all developing countries try to do that and largely fail, not just Venezuela. Those that do succeed, or have since WWII, have done so by radically violating the types of policies the WTO, the World Bank and the IMF now force on countries. China, for example, has not developed the way it has by doing the types of policies that likely be forced on Venezuela if the opposition gets its way.

"I have no idea what the opposition's idea's are to fix the economy, and whatever they do, even if it is the exact right thing to do (which I doubt) it will take a long time to fix."

Well, the majority of the opposition want the same policies that were a disaster in pre-Chavez Venezuela and they have been a disaster elsewhere too. Everyone wants to critique Venezuela without any reference to pre-Chavez Venezuela or what the alternative would be. Okay, there are major economic problems in modern Venezuela, does the opposition have BETTER ideas? Kind of important before everyone starts cheering about how wonderful it is that they are taking power. Modern, right wing, Colombia is a disaster of a different kind. Simply pointing that out doesn't mean then that it would be just wonderful that a FARC dominated group took over. What their exact plans are kind of matters.


Well, I'm glad you think some of my suggestions are "obvious". Apparently they escaped the governments notice.

Enough about me...What would YOU do ?


This is one of the saddest day in Latin America since Hugo's victory in 1998.

The CIA, working with the oligarchy, has put a serious crimp in Venezuelan socialism, but socialism is accustomed to adversity. Indeed that is all it has ever known.

Capitalism excells in exporting evil to non-capitalist states. If it were not for superior capitalist financial, economic, military and espionage capabilities, world socialism would likely have triumphed long ago.

Witness the new respect for socialism evident in the USA, thanks to the efforts of Bernie Sanders.

A growing socialist influence in the USA will hamper the ability of the world capitalist empire to disrupt socialist gains throughout the world.


I am thinking back to Castro warning Chavez about how the CIA had various means of killing while making it look like A natural occurrence-And then, out of nowhere Chavez has A sudden critical and "Rare" form of Cancer right out of the blue- He didn't live long after being diagnosed- Strange how things always somehow work out for Warshington....


What, policies, really, did Venezuala put in place that weren't just milder versions of what another oil-exporting "socialist" country, Norway did? Why such different outcomes?



I worked in the Venezuela in the early 1980s and back then I don't recall the country producing anything but oil, save for the steel mill at Ciudad Bolivar.

In those days the country didn't even have a single mile of railroad track! They even imported tomatoes! Their road infrastructure was horrible - much worse than today. So this notion of a past diverse economy is not correct.

And there is nothing complicated about the Bs. exchange rate it is fixed at 6.25 Bs. per dollar - admittedly too high a rate (dollars too cheap). But was 4.25 Bs. per dollar when I was down there.


Thank you for your response Yunzer. Their main problem has apparently always then being only an exporter of heavy crude. Sometimes I think they would be better off with no oil at all.

One question....was there an active black market in the currency at that exchange rate? I really would like to know.


Thanks for the question Yunzer. I would probably think it was because of the different level of development in Venezuela as opposed to Norway, and several of the factors on my list.


So therefore, the Venezuelan oligarchy and their US / CIA backers invested nothing in destabilizing the Venezuelan economy, distorting the Venezuelan media, or corrupting Venezuelan politics. Right, Bligh? Please explain the billions of dollars they invested in their destabilization project.

Once you stop your knee jerking.


Blah blah blah, right-wing talking points, ignore the massive destabilization program organized by the right wing and their US / CIA backers, all problems belong to Chavez, etc. etc. etc., blah blah blah.