Venezuela on the path of recovery?

[Husar]

After many years of far too left-wing politics, Venezuelans have had enough of the economic downturn and empty supermarkets and have voted a new party into their parliament. A resounding defeat for the Chavez-politics of the last decade or two.

Apparently basing an entire country's economy on oil is not such a great idea and political prisoners may be released as well now.
Here's hoping that the country recovers from ruinous politics that made the people suffer.

http://www.bbc.com/news/world-latin-america-35019111

After years of political setbacks and infighting, the broad opposition coalition says it is up to the challenge of running the National Assembly.
Senior coalition strategist and veteran opposition politician Julio Borges told me what their legislative priorities would now be.
"Our chief aim is to promote a bill of rights so we can begin the process of releasing political prisoners," he said.
"Secondly, to push the government to take measures to improve the economy."

[Fragony]

assaination 3 2 1

[Husar]

assaination 3 2 1

Assassinate whom? The >100 members of the parliament that hold the new majority?
And why would the CIA want to do that?

[Crandar]

The situation was worse then the right parties were in power. It's actually a reactionary movement, instigated by the wealthier classes.

[Fragony]

Assassinate whom? The >100 members of the parliament that hold the new majority?
And why would the CIA want to do that?

Not the CIA but their own. He wouldn't be the first

[Pannonian]

Not the CIA but their own. He wouldn't be the first

If you're bemoaning the likely fate of a right wing government being toppled by left wingers via targeted assassination, note that that method has traditionally been (mostly) the preserve of rightists, not leftists. Leftists gain power through revolution, not assassination. For rightists, it's vice versa.

[Fragony]

If you're bemoaning the likely fate of a right wing government being toppled by left wingers via targeted assassination, note that that method has traditionally been (mostly) the preserve of rightists, not leftists. Leftists gain power through revolution, not assassination. For rightists, it's vice versa.

left right, all dangerous there

[Husar]

Not the CIA but their own. He wouldn't be the first

Who is "he"? Are you saying the right-wingers are going to assassinate president Maduro?
And why would this election lead to this?

As for the economic problems, my impression is that indeed, Chavez and Maduro did not diversify the economy enough, made it dependent for the most part on oil sales and let the government decide so many economic things that now that the government is bankrupt due to low oil prices, it cannot even refill the supermarkets.
I don't know if the right-wingers are much better, but they seem to be more of a center-right coalition anyway.
If it were to blame only on the oil prices, why are Norway and other oil-producing countries not going bankrupt? I assume the difference is that they have a more flexible economy that does not hinge entirely on the oil price.

[Sarmatian]

After many years of far too left-wing politics, Venezuelans have had enough of the economic downturn and empty supermarkets and have voted a new party into their parliament. A resounding defeat for the Chavez-politics of the last decade or two.

Apparently basing an entire country's economy on oil is not such a great idea and political prisoners may be released as well now.
Here's hoping that the country recovers from ruinous politics that made the people suffer.

http://www.bbc.com/news/world-latin-america-35019111

It is a serious error to place current Venezuelan troubles at far too left policies or Chavez.

It is mix of a global recession and failing oil prices.

Under 14 years of Chavez rule, Venezuelan GDP per capita went from roughly 4000$ to over 10000$ and extreme poverty fell from 24% to 8%.

Could he have done better? Most certainly. Corruption was a huge issue, but he was also facing a hostile regional hegemon who was very angry at losing the biggest slice of that oil cake.

To answer the initial question, no, Venezuela is not on the path of a recovery. Probably on a course of stagnation, with a few other heavily corrupted politicians turning over the control and profits of oil back to US companies.

[Montmorency]

It is mix of a global recession and failing oil prices.

Under 14 years of Chavez rule, Venezuelan GDP per capita went from roughly 4000$ to over 10000$ and extreme poverty fell from 24% to 8%.

The dissonance here is profound.

Violent crime in Venezuela is the most evident Chavez legacy.

[Sarmatian]

The dissonance here is profound.

Violent crime in Venezuela is the most evident Chavez legacy.

Why?

[Montmorency]

'Chavez raised incomes/wealth and reduced poverty, only for it to be undone by the oil dip' is a narrative easily flipped on its head.

[Sarmatian]

'Chavez raised incomes/wealth and reduced poverty, only for it to be undone by the oil dip' is a narrative easily flipped on its head.

How?

By pointing out violent crimes?

[a completely inoffensive name]

Chavez bribed the people with oil money while refusing to diversify the country for long term growth. This is 100% the fault of him and the party.

[Sarmatian]

Chavez bribed the people with oil money while refusing to diversify the country for long term growth. This is 100% the fault of him and the party.

Not exactly. He had to deal with external and internal threats that wished a return to a previous state where most of the oil profits ended up with US companies.

US government took a hostile stance to Venezuela for that reason, which also stifled growth and diversification.

He is partially to blame, no doubt about that, but not 100%.

[Sarmatian]

Chavez bribed the people with oil money while refusing to diversify the country for long term growth. This is 100% the fault of him and the party.

Not exactly. He had to deal with external and internal threats that wished a return to a previous state where most of the oil profits ended up with US companies.

US government took a hostile stance to Venezuela for that reason, which also stifled growth and diversification.

He is partially to blame, no doubt about that, but not 100%.

[Myth]

I don't see this bright sunshiney future for Venezuella you all seem to prophesize. They're in for a ride now: a bunch of cleptocrats and ex members of the party / secret police will now controll the most lucrative businesses: energy, agriculture, telecommunications, weapons, prostitution, drugs. They and their children will become the white collar feudal lords that rule other "democratic" countries. The IMF and WB will happily spirall the country into a black hole of self-perpetuating debt. And the people will now have McDonald's and Nike, but their lives will not improve.

[Philippus Flavius Homovallumus]

There's definately an element of class here - something which is quite obvious in Latin America because there's more Spanish and less Amerindian blood in the upper classes.

However, I think it's clear that Chavez did squander the oil wealth and his successors continue to do so. What he did was use the oil to give poor people grain and money - rather than to improve infrastructure and pump money into other sectors of the economy to make them more competitive

[Kralizec]

This is a long time overdue. I didn't like Chavez or Maduro and how they've run Venezuela. I don't like their habit of denouncing all their political opponents as USA collaborators, the way they've politicized all the state's institutions, busted independent unions...the list goes on for a while.

But regardless, changes in government are a natural event in any functioning democracy. The socialists in Venezuela have been in power for 16 years, a good portion of which they had near-absolute control. Now it's entirely possible the new majority will screw up, but it's their turn to do so.