The question of Venezuela is the constant talking point for non-expert experts who go nine yards and back but never discuss the key issue: socialism and how to achieve it. I have no serious credentials on this subject but I think my ‘competence’ is slightly above zero where the xperts are going into negative numbers.
At this point the whole rigamarole of global finance is tedious nonsense: having read ten to fifty articles by the learned I see they don’t agree and are determined to miss the point.
Venezuela can simply say goodbye to capitalism and cross the threshold into real socialism. None of the xperts can grasp the point.
Step one: Venezuela is the object of economic debt warfare by the US which is as deadly as the real thing.
Default on that debt, which is a criminal conspiracy, and have nothing further to do with the US.
Create a new robust socialist economy at whatever level is realizable, but make it relatively autonomous so that transnational hyaenas can’t touch it.
Create real wealth in agriculture, housing, and light industry using resources that are indigenous: Venezuela is quite capable of economic independence, go for it.
The question of oil is a distraction: think new economy without oil.
Expropriate the bourgeoisie economy once and for all and use those resources for the above.
Get a decent model of socialism: I recommend something like our ‘democatic market neo-communsim’ which allows markets, reconstructs democracy and bases the post-expropriation phase on markets and planning (plus our third sector) with a new politics based a communist Commons and a democratic parliament. Avoid cuban, bolshevik, chinese and other failed models ….Be wary of marxist idiocy. The solutions are relatively simple and don’t require minds warped by leftist jargon. Tell Putin to go fuck…
In final analysis the socialist exit path is the best if Venezuela can beat off invasion. This Gauido is a complete joke: arrest him for sedition and be done with him. ETc….
U.S. critics of Modern Monetary Theory who point to Venezuela’s hyperinflation are missing the big difference between the two countries.