Typo there with _rose_ quality of life in Venezuela?
Pretty sure we've watched that 'democratic' experiment fail spectacularly, at least what news I know of the economy and living conditions in general seem very poor at best. Failed state comes to mind.
He might have raised the quality of life temporarily (I'm not sure even about that), but what is happening now in Venezuela was practically inevitable. You might be warmer for a little while as you take apart your house and burn it piece by piece, but in the end you will more assuredly freeze. In my opinion, it was a great tragedy that Chavez is not still alive today. Now people can say ridiculous things like this. If he was alive today, Venezuela would still be collapsing and it would be clear whose fault it was.
Economists believe that hyperinflations are caused by large persistent government deficits financed primarily by money creation (rather than by borrowing or by increasing taxation). --wikipedia.
Eli5
Their economy was mostly oil, they seized assets of oil companies extracting it. People left then oil crashed and they had too many promises to pay for
It was not simply that they "nationalized oil" in my example, as the resources we're already state owned. You seem to not be serious with your comments.
Sorry I'm just trying to understand the five year old's argument. "Their economy was mostly oil, they seized assets of oil companies extracting it." Who is "they" in this sentence and how was all this inevitable?
Hitler came to power on top of a democratic system, too (IIRC, by leveraging political alliances and grassroots violence in the pre-1933 parliamentary system). He surely improved the quality of life for the Nazi base in the mid-30s after he took power.
Didn't stop him from dismantling democratic institutions, eliminating all political rivals, invading his neighbors, and murdering millions of people.
Chavez definitely dismantled democracy in Venezuela. (If you want to be technical, he started the project, and Maduro finished it.)
Specifically, vote count manipulation, the Supreme Court refusing to allow opposition legislatures to be seated, the constitutional committee stripping the legislature of its power... that's dismantling democracy.
Pretty sure we've watched that 'democratic' experiment fail spectacularly, at least what news I know of the economy and living conditions in general seem very poor at best. Failed state comes to mind.