LA Times: Remember all those left-wing pundits who drooled over Venezuela?

First The Washington Post sounds halfway rational on the minimum wage issue. And now this from the LA Times?

Remember folks, and this is one of the few economic/political axioms out there, socialism always fails because it is based on falsehood fundamentally. Particularly false PRICES. And the degree to which socialism fails (eventually) correlates directly to the amount of socialism instituted. The bigger the socialism, the bigger the ultimate failure.

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The Socialists Cling to Power: Venezuela National Guard Runs Over Protesters (VIDEO)

Venezuela should be a rich – or at least a relatively rich country. But 2 decades of socialism have eroded the economy. Now, as the regime clings to power it’s running over protesters. We shouldn’t be surprised but we should be aware.

The people will most likely bring Maduro and his Chavista allies down. But there may be be blood, more blood, on the way to this result.

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Venezuela has a bread shortage. The government has decided bakers are the problem. (Makes sense?)

Socialism can not calculate prices effectively. This is socialism’s (of various kinds) fatal flaw.

Real prices, honest prices, often reflect a reality that the powers that be in socialist systems don’t like. As such the powers that be start looking for reasons, any reasons other than the real ones, for why their particular economy is failing. They often conjure boogeymen.

You see it’s reactionary capitalists undermining the system. They are trying to extract the people’s surplus value.

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Declaring war on common sense, Venezuela bans its own money

The whole place is economically dysfunctional. This is what happens when prices are restricted by the government and the totalitarians refuse to let in the light of the market. It’s really that simple fundamentally.

It should be noted also that the Indian government pulled a similar thing a couple of weeks ago and also threw its economy into a spin.

The War on Cash is on.

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