Socialism's Downside Exemplified

I've written plenty of good things about socialism recently, hence it's time to be "balanced" and bash it. With "bad" people running a socialist nation, it will tend to become more and more centralized and the bureaucrats will become more and more inefficient and corrupt. Promotion will depend on who one knows, not how well one does a jobs. That's been the path for Venezuela as the thug and Fidel wannabe, Hugo Chavez, has grabbed more and more power.

Today's WSJ has a story that exemplifies such socialist regimes.

WSJ: "CARACAS—Venezuelan authorities discovered nearly 1,200 shipping containers full of rotten food at a state-run warehouse and have arrested a former top official in the government's food distribution network.

"The discovery of the 30,000 tons of out-of-date milk, rice and wheat flour at the warehouse in the port city of Puerto Cabello is seen as an embarrassment for President Hugo Chávez, who has been blaming opposition forces and private industry for a recent rise in food shortages.

"President Chávez, addressing the issue late Tuesday, said the food was left to go bad due to "mistakes, inefficiency" and "bureaucracy" within the government, but also said corruption was likely involved. He promised his administration would prosecute those responsible. "

Food shortages exist, yet what does thug Hugo do ? He just wants more victims for his police and kangaroo courts. The more power Chavez grabs, the more injustice, hardship and waste occurs. He's destroying that once prosperous nation. Rather than perform real reform to help the common man, all Hugo does is grab more power. He exemplifies a major downside risk to socialism, that the gangster types tend to take power.

Markets

Machine extreme stock sports continued - aka "MESS". Why bother to delve for rational reasons. It's all machines running technical algorithms. Krypto is waiting for a solid more up, then will sell more s-l-o-w-l-y.

Word of the Day

"Rebarbative" - adjective [$10] literary
Rebarbative means repellent, unattractive.
Sentence: The rebarbative Chavez regime simply reeks of gangsterism.