Just after the 10th anniversary of the fall of Lehman Brothers, co-founder of the Home Depot (HD) Ken Langone cited the market crash that followed as the reason many millennials have a negative view of capitalism.
“They were 8, 9, 10, 11, 12 years old,” Langone told Yahoo Finance’s Julia La Roche at the All Markets Summit on Sept. 20. “So capitalism did not present itself very well.”
Langone went on to suggest that countries that have adopted a socialist system aren’t doing well. To the millennials who seem to favor socialism, Langone said: “I’ll put you in my plane and I’ll fly you down to Venezuela, and let’s see how good socialism is doing down there.”
A speech by Venezuelan President Nicolas Maduro at an army commemoration event was abruptly cut off due to a reported assassination attempt using several drones packed with explosives, injuring seven National Guard soldiers. The extent of their injuries is not known, however they are reportedly receiving medical care.
In live footage, Maduro and officials standing behind him can be seen looking up as an explosion is heard in the distance, after which soldiers can be seen running in disarray before the transmission ends.
Inflation in Venezuela could top 1 million percent by year’s end as the country’s historic crisis deepens, the International Monetary Fund said on Monday.
Venezuela’s economic turmoil compares to Germany’s after the first world war and Zimbabwe’s at the beginning of the last decade, said Alejandro Werner, head of the IMF’s western hemisphere department.
“The collapse in economic activity, hyperinflation, and increasing deterioration … will lead to intensifying spillover effects on neighboring countries,” Werner wrote in a blogpost.
Venezuela, a once wealthy oil-producing nation, is in the grips of a five-year crisis that has left many of its people struggling to find food and medicine, while driving masses across the border for relief into neighboring Colombia and Brazil.
Socialist Democrat Ocasio-Cortez Called Out in Fact Check
The United Nations Human Rights Council is either proof that humorless diplomatic apparatchiks do indeed have a sense of humor or that something is seriously broken with the U.N. mechanism.
The UNHRC essentially serves one major function: wholesale grousing about the state of Israel. That probably shouldn’t surprise you when you see some of the defenders of human rights that are currently or have previously sat on the Council.
The group currently features wholesale human rights violators like China, Saudi Arabia, Venezuela and Cuba, and Viktor Orban’s Hungary isn’t far off that gold standard.
Libya sat on the body during the reign of Gadhafi, as has Evo Morales’ Bolivia. There are innumerable other nations on the rostrum that have a questionable dedication to democracy in human rights.
Thirty years after its eradication in the now socialist dystopia of Venezuela, polio is making a comeback. The news comes as Venezuela experiences political and economic turmoil, resulting in a humanitarian and health care crisis.
With an estimated population of 31.3 million, Venezuela’s totalitarian socialist policiesare making it difficult for people to protect themselves against viral and bacterial infections; that includes the polio virus. Access to clean water and proper hygiene are ways to reduce the chances of getting polio, but Venezuelans are suffering abject poverty thanks to authoritarians who want all the power and money making it difficult for the poor to get either.
A child has recently been diagnosed with the virus in Venezuela. The infectious viral disease has been eradicated since 1989, according to the Pan American Health Organization, a regional apparatus of the World Health Organization. The Western Hemisphere has been certified polio-free since 1994. But socialist policies are bringing back diseases.
A jubilant Nicolas Maduro addressed a crowd of svelte supporters outside the presidential palace in Caracas late Sunday evening, inviting his defeated opposition to join him in dialogue.
The Venezuelan socialist leader was re-elected to a second six-year term in a landslide victory, gathering 68% of the votes and beating his nearest challenger, Henri Falcon, by more than 40 points.
Before the end of voting, Falcon rejected the election as illegitimate and called for a new vote. The candidate claimed his campaign received thousands of complaints indicating Maduro’s party set up “Red Points” at nearly 90 per cent of polling stations across the country intended to pressure the poor to vote for Maduro, reports the Associated Press.
The election “without any doubt lacks legitimacy and we categorically refuse to recognize this process,” Falcon said.
If food and medicine shortages, 14,000% annual inflation and protests wherein citizens throw their own feces at the country’s leaders wasn’t bad enough, things are likely to get worse in Venezuela after Sunday’s election.
President Nicolas Maduro has no real threat in the election, analysts say, as any legitimate challengers have either fled the country, been arrested or been banned from running. While some polls do show opposition party candidate Henri Falcon leading Maduro – who has around a 20% approval rating – few believe security forces overseeing the vote will allow a free and fair election.
Turnout is also likely to be incredibly low, not only because few believe their votes matter, but also because of a climate of fear. Asdrubal R. Oliveros, an economist and director of macroeconomic research firm Ecoanalitica, notes that opinion polls show a significant percentage of the population thinks their vote is not secret and that more than half believe that their social welfare benefits could be cut if Maduro’s government loses or if they are found to have voted against him.
A new video shows Venezuelans competing with dogs to eat from trash in the middle of the street.
Shot near Banesto Bank in Valencia, the third largest city in Venezuela, the clip shows people picking through garbage in the hope of finding scraps of food.
One man is seen shooing away children and dogs as he eats the scraps there and then, while others attempt to fill up a plastic bag.
Venezuelan President Nicolas Maduro announced a 40 percent increase to the minimum wage as of January, a move that will foment what many economists already consider hyperinflation in the oil-rich but crisis-stricken nation.
In his televised year-end address, leftist Maduro said the new wage level would protect workers against what he calls Washington’s “economic war” to sabotage socialism.
“Good news!” said the former bus driver and union leader, speaking next to a Venezuelan flag in a midday address.
Venezuelan President Nicolas Maduro lashed out at President Trump following his blistering UN speech Tuesday, calling him the “new Hitler of international politics.”
The scathing remarks by the socialist dictator were retaliation for Trump’s comments about Venezuela’s “faithful” implementation of socialism which have resulted in riots, mass starvation, and bankruptcy in the country.
“The problem in Venezuela is not that socialism has been poorly implemented, but that socialism has been faithfully implemented,” Trump said.