Venezuela experiencing Hyper-inflation - Food shortages and ATM's running out of cash

a reply to: Tyrion79
More specifically, where did Venezuala fail in your opinion?

originally posted by: Tyrion79
Ok, if this is the case, what lesson could be learned from it, statewise, in other countries today?

Other than Statism adversely affects markets in unintended ways leading to the degradation of the citizenries well being and livelihood?

a reply to: Wildbob77
Don't take dollars for granted as main currency in the world, cause this might change and you wouldn't like it.
I went to Bali, Indonesia, in 2001 and they favoured dollars instead of Lira's (?), cause of daily fluctuations of their currency.
Dollar is only so strong, as it's backed up by current markets and of course oil.
And to be clear, I don't hate U.S., want to visit sometime, I only hate U.S. foreign policy, not the people.

a reply to: AugustusMasonicus
You just (inadvertanly?) described capitalism and democracy in it's current state, IMO.
So what's next?

originally posted by: Tyrion79
You just (inadvertanly?) described capitalism and democracy in it's current state, IMO.
So what's next?

Capitalism where? Certainly in the United States the affect of Statism, while overbearing, is not even remotely as prevalent as it was/is in Venezuela.

originally posted by: Tyrion79
a reply to: AugustusMasonicus
You just (inadvertanly?) described capitalism and democracy in it's current state, IMO.
So what's next?

Do you even know what capitalism is?

For the record, it is when the people are free to exchange goods and services with each other so that all parties agree and benefit.

I have the chicken. You have the pot. We neither one cook, but Graciela does. All three of us need soup. We all agree to allow my chicken, your pot and Graciela's cooking expertise to come together to make a pot of soup and the soup to be divided three ways. Each of us benefits by getting the soup none of us could have separately.

Capitalism.

Statism comes in a says that my chicken may not have been raised and/or slaughtered properly and confiscates it for our own good. Your pot may not be made out of the proper materials and could shatter and injure us and confiscates it for our own good, and that Graciela cannot make soup for anyone but herself without passing a state approved cooking school and paying for yearly licensing.

But after all that, we can make soup. No one benefits.

Statism.

a reply to: ketsuko
Ok, if I wanted to make soup, in this instance, and start selling it in front of my home, it would be illegal because I'd need a permit. After obtaining a permit, I can sell soup, but it has to meet certain regulations and I'd have to have insurance, in case someone sues me for indigestion or something, plus I'd have to pay for extra taxes (using public pavement) etc etc.
Sorry, I'm just blabbing, but things aren't perfect in any state form, whatever happened to freedom?
If there's enough resources and people aka manpower, then what's the problem in the world?
Distribution of it all is not properly divided I think.

originally posted by: Tyrion79
a reply to: ketsuko
Ok, if I wanted to make soup, in this instance, and start selling it in front of my home, it would be illegal because I'd need a permit. After obtaining a permit, I can sell soup, but it has to meet certain regulations and I'd have to have insurance, in case someone sues me for indigestion or something, plus I'd have to pay for extra taxes (using public pavement) etc etc.
Sorry, I'm just blabbing, but things aren't perfect in any state form, whatever happened to freedom?
If there's enough resources and people aka manpower, then what's the problem in the world?
Distribution of it all is not properly divided I think.

But your example is not capitalism, and when you complain about unfettered capitalism ... well, it simply does not exist.

if it did, you could cook and sell all the soup in front of your home you wanted, no license, no rules. That is true unfettered, unbridled capitalism.

So if you saved $100,000 over your entire lifetime, it will now only be worth $!3,000.

So when is Bernie moving to Venezuela? He could save himself a lot of effort (and the US a lot of grief) by taking an early retirement in the Caracas slums.