Venezuela’s death spiral is getting worse

Venezuela’s death spiral is getting worse, by Matt O’Brien in leading US PC newspaper, the Washington Post. Even they say it’s bad.

Venezuela is stuck in a doom loop that’s become a death spiral.

Its stores are empty, its people are starving, and its government is to blame. It has tried to repeal the law of supply and demand, and, in the process, eliminated any incentive for businesses to actually sell things. The result is that the country with the largest oil reserves in the world now has to resort to forced labor just to try to feed itself.

It gives new meaning to the revolution devouring its own.

What do you mean, “new meaning”? It’s a very old meaning. You haven’t being pay attention? When you don’t have private property, when people help themselves to other’s property, much work ceases. Pretty simple.

Major government coercion follows, as always happens with excessive socialism:

Venezuela’s government might be reaching the point where it can’t coerce people economically, but only physically. After all, it barely has enough money to even be able to print money anymore. So it can’t buy people off anymore. It has to bully them instead. Indeed, the army has started forcing butchers to sell food at a 90 percent loss, and the government has said it can force anyone to, um, take a break from their job and work for at least two months growing food instead. Amnesty International has said this is tantamount to “forced labor,” which is just a polite way of describing what’s very close to modern-day slavery.

hat-tip Matthew