Venezuela’s Transformation To Socialist Utopia Is Nearly Complete As Its Factories Grind To A Halt

Tuesday, July 22, 2014
By Paul Martin

by Tyler Durden

Venezuela’s transformation to a socialist utopia has been well-documented on these pages. Recall:

Venezuela Bolivar Devalues 89% in Start of New FX Market
Venezuela Devalues Bolivar By Another 44% For Some, Still 600% Higher Than Black Market Due To 50% Inflation
Venezuela’s Maduro Averts Military Coup, Arrests Three Air Force Generals
Venezuela About To Run Out Of Food Despite Fresh All Time High In Its Stock Market
Venezuela Sets New “Fair” Prices For Chicken, Sugar, Rice & Coffee
Socialist Paradise Central Planning In Action: Venezuela Looting Edition
Venezuela Plunges Into Darkness As President Maduro Lays Out Socialist Vision On National TV
No Spaghetti For You: Venezuela Noodle Maker Halts Production Due To Lack Of Dollars
No Drinking Water In Venezuela Until Bankers Get Paid Back
Venezuela Runs Out Of Toilet Paper
Breathing The Air In Venezuela? Prepare To Pay

In retrospect, one can only hope the same “socialist paradise” fate isn’t headed to the other “fairness doctrine” members such as the US and France, because with socialist utopias like these who needs capitalist hell?

In any event, what utopia would be complete without a complete paralysis of the one sector that traditionally serves as the backbone of any functioning economy: no, not makers of iPhone apps… manufacturing.

As the WSJ reports, this car-crazed country’s auto industry, once the third largest in South America, is seizing up as manufacturers struggle to produce a few vehicles a day. Apparently channel stuffing hasn’t been revealed as a legitimate “retail channel” in the Latin American country just yet. As for subprime car purchase loans, US banks apparently don’t offer those in Caracas. Yet.

The Rest…HERE

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