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Venezuela's Nationalization Program Appears to be a Failure

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protocol rv Donating Member (1000+ posts) Send PM | Profile | Ignore Sun May-09-10 09:29 PM
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Venezuela's Nationalization Program Appears to be a Failure
According to the article linked below, Venezuela owes $22 billion USD for assets seized during the nationalization campaign ordered by El Presidente Chavez, may G_d bless his red suits.

The net result of the nationalization campaign has been a drop in production in all the nationalized sectors. My guess is this is one of the reasons why the economy is doing so bad this year, when it's recovering elsewhere and oil prices are so high. The lack of electricity, the brain drain, and the way the government is scaring investors are probably other big reasons.

http://english.eluniversal.com/2010/05/07/en_ing_esp_cost-of-seizures-up_07A3867709.shtml
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protocol rv Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-10-10 08:29 PM
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1. No comment?
Do any of you want to advocate more nationalization without compensation for the owners?
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