On Venezuela

Saudis have more oil

>How bad is socialism
Very good in doing what they want, making an submissive and impoverished population, that way you can control the nation smoothly

>>136881675

The thing that fucked up their budget and therefore all social programs is not that the oil price dropped, but their lack of adaptability to this situation. In a normal free market a company would have to take action to counter this, as you don't see the USA collapsing because of lower oil prices. The fact that oil is state owned, makes it inefficient by default, as with all government programs.

After that the Venezuelan government made it worse by not only blaming other companies, like demanding bakers to sell bread for the price before the crisis, making them bankrupt, but by also not fixing their own mistakes. This caused the deathspiral they are in today.

Well, thanks for reading and I'll hope to catch ya next time on easy explanations of stupid social regimes.

>>136881675
Saudi Arabia is also a socialist hole

>>136882814
So socialism only works when you pair it with Islam?

File: 2017-08-10_18-14-08.png (123KB, 1681x882px) Image search: [Google]

123KB, 1681x882px

>>136881675
Theocratic monarchy is just an excellent system.

>>136883027
Socialism is probably the best means of controlling Islamism. Look at central Asia and Baathist Iraq.

But Saudi Arabia isn't in a good spot either. They are getting slaughtered in Yemen and there is a low level insurgency within the country itself by the severely oppressed shia minority that is under a media blackout. Financially, the Saudis aren't doing so great either however their warchest is a lot bigger than the Venezuelans. The Saudis are still spending like there is no tomorrow though.

/watch?v=sZjSM7nl1E0
how can Andy Goldenberg hate Maduro so much?

>>136882672
You're right, but you forgot to mention the biggest problem: despite the oil price drop, the Bolivar is still officially pegged to the US dollar. And its official value stayed the same even when its real value collapsed.