Posts Tagged ‘economic collapse’

The Corbynite take on Venezuela tells you all you need to know about the leadership’s judgement

25/05/2016, 04:27:49 PM

by Rob Marchant

A country with a population half that of Britain is currently collapsing. Its president was defeated in the country’s parliamentary elections last December and, in the true style of demagogic leaders the world over, finally declared a state of emergency ten days ago in an attempt to cling onto power, backed by the country’s army.

It is all the more ironic to understand that the state enjoys a massive economic blessing: it contains the world’s largest oil reserves. But it has been so terribly managed since the turn of the century that there is scarcely any food in the shops, electricity in the wall sockets or medicine in the hospitals. A clearer example of Biblical famine in the land of plenty it would be difficult to find.

The country, of course, is Venezuela. A country which, under its recent leadership, has gone out of its way to pick fights with the West: US presidents, even the King of Spain. And wasted no time in cuddling up to the West’s enemies, notably Putin’s Russia.

But, as Nick Cohen has argued many times, in Britain the current regime has long been supported by “a herd of bovine leftists”. This has particular resonance for those of us who find ourselves in a Corbyn-led Labour Party which we seem to scarcely recognise any more.

In short: in spite of the absolute dog’s breakfast it has made of running a country bursting with natural wealth, the regime of Nicolás Maduro has still has a few close political allies in the West.

Who, we ask, might those be?

(more…)

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