{"id":2892,"date":"2019-02-15T01:46:37","date_gmt":"2019-02-15T01:46:37","guid":{"rendered":"https:\/\/www.asadkarim.co.uk\/?p=2892"},"modified":"2019-01-24T16:47:36","modified_gmt":"2019-01-24T16:47:36","slug":"this-is-a-very-important-lesson-about-the-collapse-of-venezuela","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=2892","title":{"rendered":"This is a very important lesson, about the collapse of Venezuela"},"content":{"rendered":"

This is a very important lesson, about the collapse of Venezuela, and the toxic mix of bad politics, idealism, money and power. A government, forcing the state oil company (PDVSA = one of the top ten largest companies in the world, that few have heard of\u2026)<\/p>\n

https:\/\/en.wikipedia.org\/wiki\/PDVSA<\/a><\/p>\n

to bank roll the economy, handover its oil profits to the state, as the state owned PDVSA, and in the time Hugo Chavez was in power….PDVSA handover $1.3 Trillion in just over a decade, to the government, and with that money the government wasted it\u2026..and that also resulted in PDVSA NOT able to invest in its own company, and now you have a spiral, where PDVSA oil\u2019s output is falling due to lack of investment (too generous to the government, so effectively cut into the muscle and arteries of PDVSA) and now Venezuela is dying, a nation with oil reserves larger that Saudi.<\/p>\n

The perils of popular politics, and lethal communism.<\/p>\n