Comments by "Jack Haveman" (@JackHaveman52) on "Ocasio Cortez SLAMMED For Gloating Over Oil Industry Collapse, She's Was HAPPY About Mass Layoffs??" video.

It goes deeper than that. When Venezuela nationalised the oil industry, they now had a cash cow (or so they thought) that they could use that money to enact social programs. Since they were a democracy, it became a bidding war for the different parties seeking power. "Vote for me and I'll give you...." and the opposition has to up the ante to get the vote. Eventually, they're giving away so much of the oil profits to those social programs that the oil industry, itself, doesn't have the money to pay the best and smartest employees, maintain existing equipment or invest in newer technologies. Then the oil prices tank and there's nothing for ANYONE. Inflation runs away and they tried to fix it by controlling prices which only makes things worse. Socialism is bad but democratic socialism could even be worse. It's the worst things that could happen to the west.
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