Always fails. From Bloomberg:
Latin America Shows No Sympathy for Venezuela
When Venezuela's head of state arrived in Quito, Ecuador, last week for the Community of Latin American and Caribbean States summit, his pitch was almost unrecognizable. Gone were the encomiums to 21st-century socialism and the late President Hugo Chavez's set-piece barbs against yanqui imperialism. In their place were contrition and beseeching.
"Venezuela is in a very difficult situation; I've come to hold a series of meetings with our brother countries, brother presidents," President Nicolas Maduro, Chavez's successor, said on Jan. 27, prior to the opening of the regional meeting. "I've come to propose a series of possible measures for Latin America to respond to Venezuela's economic emergency, to boost free trade, to increase complementarity and solidarity."
Later that day, Maduro enjoined leaders to embrace "a common plan" to confront "the current economic crisis" facing the region, but there was little doubt which country he wanted embraced.
Very difficult situation indeed - Venezuela's chief source of income is oil and with oil prices in the shitter, they are rapidly going broke. The citizens of Venezuela benefited from all the socalist programs that Chavez and now Maduro were running but when there is no money,things get very dodgy very fast. A nation that cannot supply toilet paper to its citizens? Come on now...
A bit more - this is what the end-game of socialism looks like:
After almost 17 years of autocratic excess and economic trial and error, it's hardly surprising that South America's most oil-dependent economy is in miserable shape. Inflation may be racing toward more than 700 percent, and crime has exploded. Venezuela placed last in Latin America on Transparency International's latest index on perceived public-sector corruption. U.S. prosecutors have indicted Venezuelan officials and arrested two of the president's relatives on drug trafficking charges, and the country just forfeited its right to vote at the United Nations General Assembly for failing to pay its dues.
Yeah - we want America to be just like this. Socialism always runs out of other people's money and it always fails - painfully.
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