Latin America’s (Socialist) Pink Tide Crashes on the Rocks

High tide in 2008.
Times change, and socialism always eventually fails. It just did particularly quickly in South America.

And thank God for that.

Unfortunately however in the crashing and chaos people are hurt. As the state apparatus grinds to a halt in Venezuela and spits and coughs in other parts of South America life has gotten harder for many as the statists cling to power. Government is a helleva drug and it is very very hard to quit.

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Venezuela’s tragedy fed by cronyism and the death of free markets

As we have said many times, socialism and crony capitalism are sisters and good friends. Centralization is a key part of socialism and absolutely necessary for crony capitalism. The political class lives well, and the rest, well, they are the rest – particularly in Latin America.

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Socialism fails yet again in Venezuela: Looting breaks out as inflation rises, bread disappears

The French Revolution (and others) was tied to hyperinflation and a shortage of wheat. When people are hungry they get desperate. There is no reason why anyone should be hungry in Venezuela. It’s a verdant country. Yet the socialists have so mismanaged the economy that even here, in a veritable Garden of Eden, people are hungry. Even here, a country which sits on massive oil reserves nearly unrivaled in the world there is not enough energy to keep the lights on.

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VICE News: Last Days of Chavez’s Legacy: The Fall of Chavismo in Venezuela (Video)

An early rally against Chavez and Chavismo. In 2015 these people voted with a vengeance. Kind of a Venezuelan TEA Party.

This is an excellent report from the heart of the Chavismo movement prior to the recent repudiation of president Nicolas Maduro, Chavismo as a political philosophy, and the “Bolivarian revolution” generally by a large part of the Venezuelan electorate. (A majority.)Though the report is for the most part friendly to the Chavismos and ignores the perspective of the opposition,

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FP: The Sad Death of the Latin American Left (Not so sad, the implosion of Venezuelan and Brazilian cronyism is good for the world.)

Fail.

Socialism is inherently crony. It is a system which is highly centralized and as such encourages the consolidation and then dissemination of wealth (such as it is) and power to vested interests, sometimes quazi-private, (as is the case with Petrobras) often within the government. This is the sad legacy of modern Venezuela and Brazil. (And pretty much all socialist systems.) That these two countries are now failing so spectacularly is to be expected. This is what crony systems do.

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The socialists lose yet ANOTHER ONE in South America

For a while we’ve been reporting on the ebbing of the “pink tide” all across South America. A decade ago socialists took power in Brazil, Venezuela, Argentina, Ecuador, Bolivia, Uruguay, and other countries. Now that tide is rapidly going out. Across the continent the leftists are in retreat and leaving a trail of cronyism and just general corruption behind them.

On Sunday the people of Venezuela gave the parliament to the opposition. Yet another win for opponents of “Chavismo.”

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Hugo Chávez daughter is the richest individual in Venezuela, report claims (Yay Socialismo!)

“My stock portfolio has gone through the roof! Viva la revolucion!”

This always seems to happen. The socialists at the top of the socialist hierarchy end up with all the loot. Time and time and time again.

What of the proletariat? What of the people?

Suckers.

Invariably socialist countries are also deeply crony. From the Soviet Union, to Hitler’s Germany, to modern China, to even in the “good” socialist countries like Denmark, cronyism is a key part of the system.

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