Venezuela’s Maduro Admits Socialist Model Has Failed

by | Aug 3, 2018 | Headline News | 51 comments

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    This report was originally published by Tyler Durden at Zero Hedge

    Venezuela’s President Nicolas Maduro admitted that his socialist economic model has “failed” amid food and medicine shortages as well as a failing infrastructure highlighted by Tuesday’s power failure to 80% of Caracas.

    Compounding matters is the IMF’s Weimar-topping hyperinflation forecast of 1,000,000% by year end, and a GDP set to plummet 18% this year, as the government continues to simply print money to in hopes of filling the void of what was once the country’s economy.

    “The production models we’ve tried so far have failed and the responsibility is ours, mine and yours,” Maduro told his ruling PSUV party congress. “Enough with the whining… we need to produce with or without (outside) aggression, with or without blockades, we need to make Venezuela an economic power.

    “No more whining, I want solutions comrades!”

    No word on whether he took a bite of an empanada during his speech while his country starves on the “Maduro diet” – a phrase coined after Venezuela’s notorious food shortages gave rise to mass starvation across the country. Not even the donkeys are safe.


    Venezuela’s socialist government has nationalized a wide swath of industries across the country over the past several years, such as steel and cement plants, food processing, distribution and more. In order to try and control inflation, the country has fixed prices on various goods while imposing tight regulations surrounding foreign exchange.

    I estimate it will take about two years to reach a high level of stability and see the first symptoms of new and economic prosperity, without for one second affecting social security and protection,” added the president.

    Maduro plans to increase oil production to “six million barrels a day by 2025 or before,” amid a crash in output from a high of 3.2 million barrels a day in 2008 to just 1.5 million this year, a 30-year low. Venezuela’s crude oil sales comprise approximately 96% of the country’s revenue.

    The economic crisis has hit so hard that the public transport system has almost ground to a halt, with the government and local councils offering free rides in unsafe and uncomfortable pick-up trucks — branded “kennels” by users — after many bus service providers couldn’t afford to keep their vehicles on the road.

    Maduro, who blames Venezuela’s woes on an “economic war” waged by the United States, called on PSUV supporters to help kick-start production and resist US “aggression.” –France24

    Washington, meanwhile, has imposed financial sanctions against Maduro’s government, along with state-owned oil company PDVSA.

    Meanwhile, Venezuela’s industrial sector is operating at just 30% capacity, as illustrated by the farming sector, which now provides just a quarter of national consumption, after providing 75% just a few years ago according to the National Farmers Federation.

    This should all make for some interesting debate questions during the next US elections, as Democratic Socialists have become the “new face” of the left. Just don’t ask any questions about economics or logistics…


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      1. So Maduro finally admits his beloved socialist system doesn’t work? SURPRISE, SURPRISE, SURPRISE! in the words of Gomer Pyle. It should be interesting to see what happens in Venezuela now.

        • Maduro is not starving. Seems socialism worked as expected.

            • He didn’t say Socialism doesn’t work.
              He said the production models they have been using have not worked, meaning the ways they have been working to overcome the economic warfare the US is waging against Venezuela have not worked well enough.
              The people are suffering because the US is waging economic war against a country that does not constitute a threat against the US.
              Like any government, the government has made mistakes, and they have to take responsibility for their part.
              I doubt anyone here is going to say that the US regime has not made any mistakes over the last 20 years.
              Does anyone see the US govt taking responsibility for its part in its mistakes?

              • They could trade with China, or Brazil, or the EU. Nobody will trade with Venezuela because they they won’t pay their trade debts.

        • SOCIALISM has ALWAYS worked if the State just has the will to make it work.

          Mao and Stalin MADE it work, and that is why they are the Great Leaders of the Socialist movement.

          These guys, above, just don’t have the commitment to True, Real, Socialism. They need to let nobody stop Socialism.

          Socialism always works when they make it work !!!!!!!!!

          As for people starving? That is such a small price to pay for Equality. The peoples of Venezuela have Equality and can share Equally in the glory of Socialism. They should be happy, and if they are not, they need to be made happy.

          Now is not the time to be timid.

      2. To all Socialist.
        Your Hero Maduro has spoken. Now what do you say about Socialism???

        Again we didn’t cause Socialism they voted for it, because they where told it will be heaven. Just another big lie.


        • Don’t see in the article anywhere that he mentioned the word “socialism”. The author of this piece decided he would put that word in Maduro’s mouth without any citation as to it’s actual use.

          Look, I’m not a fan of socialism OR crony capitalism, but most of the use of the word “socialism” is clickbait mainstream propaganda with little basis in fact.

          The fact that Venezuela is a failed state has little to do with the type of government they have.

          • Are you serious??? Has nothing to do with kind of govt. they have????? Who do you think makes policy???

            • Many countrys have failed and become war torn because of the UN & NWO policys. And anyone who dares to try and trade oil for anything other than USA petro dollars days are numbered. They face the wrath of the USA military. Unless they have a strong military and nukes. If they can inflict damage in kind The USA treats them nice and polite.

              • Old Guy

                You speak true words.

              • Russia and China are now trading in their own currencies, not using the dollar. Also Iran. The dollar is losing its world reserve currency status. Also, many changes in markets are taking place. The world is changing in ways that will turn out to be profound.

              • Old Guy, the Venezuelans did it to themselves. They got who and what they voted for. They turned in their guns and embraced socialism, falling for those fake promises of free shit for everyone just like the lower IQ dumb Americans are doing here today. Then when their government failed them, they still do nothing but obey, obey, obey. They need to rise and take their country back with violence as needed but they won’t because they’re dumb so fuck em let them reap what they sowed.

          • And we know you are the expert why?

          • “Capitalism is “the road to hell”. … to build heaven here on earth, we will follow socialism,” – Hugo Chavez

            Chavez, and Maduro, are not socialists, they are communists (well, Chavez is now the best kind of communist).

            And yes, socialism is why Venezuela is a failed state.

        • Sgt. Dale

          There are degrees and its very dependent upon the caliber of the civilian population. Very luxurious “social benefits” are supplied to the populations of Northern Europe and it functions fine as the indigenous population largely don’t “game the system”. Their experiment with admitting refugees who will exploit these benefits in far greater percentage is different. Venezuela is communist virtually abolishing private ownership. That is beyond socialism as its generally understood and administered.

          • K@:

            Not to split it too fine w/ you but Scandinavia, in particular, is not Socialist.

            It is a Welfare State by their own hand. As a citizen of these countries you can still own capital and businesses, etc, etc. without Central Planning by the Gov.

            They pay very high taxes for their voluntary Welfare State, the Gov did not impose that on them like what happens in many Socialist and Communist States.

            Theoretically, they can change it just like they imposed it on themselves.

            Maybe Venezuela voted for Socialism back before Chavez got in. Somewhere on the timeline, the democratically elected government went totalitarian.

            That often happens. Stay tuned for that here…


            • bb in GA

              It certainly is “socialist” by the standards of many (if not most) participants on this BB. As I stated.”There are degrees and its very dependent upon the caliber of the civilian population.”

              Take a survey. I’ve debated this specific issue many times here. You understand, most here don’t as any government program comes with a gulag and goose-steping tyranny.

              Northern Europe will not be able to continue these “socialistic” “welfare state” programs because of who and how many are immigrating there.

            • What I don’t like about socialism is that when the government makes something free, the money to pay for it has to be taken away from the people who have worked hard to earn it, and that’s me.

            • voluntary Welfare State

              then why is government involved

            • bb in GA

              The accepted definition in the mind of the US citizenry is that the Northern European nations are socialist as Sanders uses them for an ideal governmental model and referred to them as such. Most on this BB would call them socialist. Regardless they are as far left of a system that still has the capacity to effectively function “IF” and it a big “IF” the citizens have the pride and discipline not to game the system. That will not in to work in the USA as we have multiple generational professional gamers of the system in abundance. Europe is importing the same low caliber dependents; I predict an utter failure.

          • K2
            Good points I will think about them.

        • According to dopey dale young girls in Venezuela deserved to be raped, since they are the little girls on the block. And this jackass is a cop on Americas Streets. Beware folks. These creeps are out there hiding behind a badge in full costume.

          • :
            Comment ID: 3828827
            August 3, 2018 at 11:48 am
            Troll Alert!!!!
            Stuart and Menz. Thanks.
            They hit it on the head. Make all the comment you want about me. I can handle them. You can leave all the good people here alone.
            Unless I agree with you about something I will not response to your ignorance. So say what you will because you have a right to, but no one is listening.
            Sgt. (This is from another post a little while back about you replying to yourself ands no one else replying to you).

            • Ignorance is reflected by those who think this was all Socialism’s fault. Sure, ignore real facts, like, low manipulated oil prices and US Economic Sanctions that imploded this country into poverty. So when So Dakota sand fields stopped producing oil because of the exact same depressed oil prices and all these towns that went from boom to bust. Did you also blame socialism for that too? Your ignorant theory holds no water Sgt dumb dumb. Maybe if you had some education, you’d have a clue about economics. Your job as a revenue raiser for the state is pretty much communism. You dont even have a clue what your own job is all about. You are a Commie Cop sgt ? oink oink.

        • Btw/ Propaganda is most effective on the Low IQ ingorant masses, that believe what ever they are told. The ones that do the research first, then question propaganda and call it for what it is, is noble.

          Even when facts are presented to the low IQ, and it still fails to sink in their peebrains…. Lets just say, Lazy uneducated people are easily duped.

          • Hey Blow Boy, you sure got some pretty lips and your IQ ranks right up there with my septic tank. You ain’t never done anything but harass people and tell us how smart you are, first it was Eppe and then my Cuz and now Sarge Dale, but they all seem to have forgiving hearts cause they will come back tomorrow and compliment you on one of your dumbass comments, and you do have a couple of other stooges that come to your aid, but they all have the same mentality as you, just a lot of swamp gas. Bring it on Blow Boy.

      3. The central trunk, of that banana tree, which he is eating from, dies seasonally, leaving a ring of small plants, and eventually a mat of them.

        You can’t be neutral, and have starvation, where the land is green and wet. You have to want it that way. It has to be a proactive effort, to ruin and destroy.

        What if someone had just abandoned a tomato seed, in a garbage pile, outside the window of one of these shacks. Is it tropical?

        Under Communism, there is a contingent of intentionally-underemployed people, called the labor surplus or industrial army. That is assigned to people, regardless of merit.

        One of these women (possibly, not a rocket scientist) says she is still “fat” because she has grown this stuff. (Communism hadn’t stolen it, yet.)

        • You can’t be neutral, and have starvation, where the land is green and wet.

          When the Soviet Union collapsed North Korea starved. They could not produce their own food and relieved on Russia to supply it.

          Cuba was also facing the exact problem, but they quickly ordered their people to plant gardens on every piece of land and produce their own food.

          I have posted this video before, but it really makes the point.

          • “National Association of Innovators and Rationalists”
            “As the crisis [special period] became more severe, people’s creativity became more powerful, and everywhere you looked you saw solutions…”

            Can’t figure out, for the life of me, what they needed Castro for.

            Does he make something good happen?

            Communist, political theorists explicitly say, at some point, that they expect it to fail. Then, a gift economy.

            Why must they steal and murder, for DIY and a gift exchange.

            Their dignitaries (however that is possible, under Communism) had luxury.

      4. It is easy to get people to vote against their own best interest when you control what they read, see and hear. TV has brought propaganda into the home so that a man is no longer king in his own house. Someone else has the eyes and ears of the family. The USA is at risk. Now, propaganda is moving from TV to the internet. The best made propaganda documentary and video are full of lies and distortions. Look at who has the money. Look at who owns the media. Look around you for what is really happening. Homeschool. Homebirth. Homeland.


        • It is easy to get people to vote against their own best interest when you control what they read, see and hear.

          It is even worse that.

          History is being rewritten. I helped my daughter with her 7th grade history lessons. Several chapters on a free black man who surveyed Washing DC and a black female who wrote poems to George Washington. NOTHING on Benjamin Franklin, the Founding Fathers, Thomas Jefferson or anybody else important.

          When history is rewritten, people don’t know that socialism and communism are bad things. People don’t know what America is based on or the freedoms we should have.

          People don’t know that it is wrong to arrest people for using drinking straws.

          America is screwed.

        • Amen, B from CA! Couldn’t have said it better myself!

      5. “Venezuela’s President Nicolas Maduro admitted that his socialist economic model has “failed””
        In our Country, we have a segment of the population known as Democrats, that want the same for our America, Failure.
        We are at war, with ignorant people. We need to protect ourselves from them. Prepare as necessary.

        • ignorant people….

          I would go father and say they are greedy power hungry people.

          They are trying to destroy America so they can stay in power and keep the servants on the plantation.

      6. JRS, the type of government has a lot to do as a failed state. A government that is sticking its nose into things it doesn’t have business doing will try to control and manipulate everything. Like where we are headed. Becoming a failed state,because Congress and assorted government agencies don’t know how to stay out of our lives and want to control everything and everybody.

      7. Check out , The common purpose organization.

      8. I wish someone could detail the economic sanctions against Venezuela. And their impact regardless of governance. Acknowledging Moses mordicia Levy’s AKA Carl Marx’s Holomadors. Capitalists don’t kill anywhere near as many malcontents?

      9. Maybe that’s why we are not doing to good

      10. So you can keep your predatory fascism because it’s so much better than socialism. It’s not left vs right or Democrat vs Republican or liberal vs conservative, it’s the haves vs the have nots. The entire US government is fascist rightwing conservative Republicans only pretending to differ to fool the suckers who vote as if there are two opposing options which there clearly are not. Both fake sides support endless war and more profit for themselves. Nothing changes except the lying faces.

        • Don’t be sticking “conservative” in there. They are not conservative.

          A conservative is for morality, defense, and conservative economic policy.

          Almost all politicians fail on one or more of those, no matter what they call themselves.

          Conservatism has nothing to do with fascism either.

      11. Executive Orders 10998 and 13603 allow the Government to take over virtually everything and use Americans as slave labor. Effectively, they would turn America into a socialist state. Would they actually carry it out to the maximum extent? The executive orders give carte blanche authority to do what they feel is necessary. If socialism failed in Venezuela, what makes anyone believe that it would work any better in SHTF America?

      12. Fascism is the best system so far devised by modern man. Both American capitalism and Soviet socialism started to work well and advance when they took on board Nazis from WWII. Hell, the Nazis got America to the moon and built the military-industrial complex that then took over the world.

        No society has advanced as quickly as did Nazi Germany when Hitler took over. He turned it around from the Weimar failure and Germany had the most advanced science and technology for its time.

        I have spoken with Chinese and they only admire one state: Facist Germany. They laugh at Britain and they think the US is degenerate because it lets low-IQ blacks pull its tail.

        Venezuala made the mistake of encouraging the ballooning of their low IQ population who are the ones now starving. Like many third world states that adopted socialism, all they do is increase the population without any sense of what to do with them.

        The Soviet Union produced a very large population of beautiful women when they took on board the ideas of the Nazis they imported after the war. You can tell countries that care about their population: their women are beautiful. Whereas Chinese women of old were wrinkled, toothless hags, today’s modern Chinese woman is hot, hot, hot; Russian women are hot because they were selected for beauty; same in Scandinavia. Then look at today’s American women: fat, tattoed, ugly, whiny.

      13. ” Then look at today’s American women: fat, tattoed, ugly, whiny.”
        Good description of Kate Upton.

      14. “Fat…ugly……tattooed American Women”
        Yeah….I agree. Ugly might be genetic… not
        always a choice.
        Fat…..could be genetic also.
        Unless a self indulgent bloat…. NOT GENETIC.

        But why the tattoos (or TRAMP STAMPS)??
        Those remind me of women “bikers and or
        ex-convicts, prostitutes, fighters”, all trashy lives and morals.
        Talk about UGLY….those are ugly!!!

      15. Assassination attempt on Maduro today.

      16. Maduro has refused help from other countries in the past. He’s not serious until he accepts that help and sees that it gets to where it will do the most good.

      17. Someone tried to assassinate Maduro using a drone. They have the list of likely suspects narrowed doen to just 97% of the population.

      18. Socialism doesn’t work in Venezuela? Nothing works in Venezuela. Even assassination attempts by drone don’t work in Venezuela. See all those cute, snappy uniforms? See how all those uniforms ran for their lives before the drones?

        So, just how many millions of Venezuelan socialist “refugees” are the “Democraps” going to demand the US take in through their broken “Open Door?” Why? Because Venezuelans can teach the US a thing our two about how to fail at Socialism while they exploiting our welfare for-all-state, while turning their backs on the over 600,000 homeless American citizens?

      19. These anti-human Commie imbeciles never learn, do they?

        Of course, the problem with this country isn’t the fact that there are tens of millions of Commies in this country, right? However, they NEVER label themselves as Commies. They’re either liberals, or intellectuals (those are Commies with tenure at American universities, don’t you know?), or leftists, or progressives.

        And these murderous control freaks can NEVER be honest about who they are, what they are, and their plans for you, can they? Ever heard of a political party called the Peace and Freedom Party? That’s what the Commie Party, USA renamed itself after it figured out that being honest about being Commies wasn’t going to get them very far.

        So what’s the problem with this country? The REAL ONE? Why, that would be Russia. You know, the country that dumped Communism 27 years ago. That’s according to the Commies in this country.

        The solution? The ONLY way to deal with Commies is to KILL THEM. Make sure, however, to stuff some of them and put them on display on the campuses of the Commie universities in the USA. We’re gonna need a LOT of taxidermists, comrades.

      20. “Maduro recognizes Venezuela is still a capitalist-based economy…”, (Popular Resistance newsletter, 27 May, 2018)

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