And when trying to understand the chaos in Venezuela, even the most under-informed onlooker might point to socialism as the cause of so much unrest. But in their 1,600-word analysis, NBC News mentions socialism precisely zero times.
Dozens have been killed, hundreds wounded, and thousands arrested as Nicolas Maduro’s socialist regime attempts to tighten its stranglehold on the once oil-rich nation.
It’s the unchecked rise of socialism that turned what used to be the most prosperous nation on the planet into a poverty- and violence-stricken hellhole. But to NBC, socialist policies and the subsequent authoritarian crackdown has nothing to do with it.
For NBC News, it’s all about oil prices. Oil prices were at their peak ten years ago as Maduro’s predecessor Hugo Chavez was busy “redistributing wealth” in his quest for a totalitarian socialist paradise. Many Venezuelans benefitted from this redistribution, but as it is with any scheme like this, many did not.
When Chavez died, his hand-picked predecessor narrowly eked out a victory. Then oil prices nosedived.
Once that happened, the fabric of the socialist state began to unravel. Without billions of dollars to “redistribute,” the economy sputtered, then collapsed. But because socialism is a failed policy, the country was unable to rebound quickly like most free markets do.
State-run companies and cooperatives were unable to predict or respond to market forces and things got worse. Much worse. The currency collapsed, inflation skyrocketed, and foreign companies began to pull out.
NBC discusses the economic situation, but never tells us why. Why are there bread lines, medicine shortages, and a lack of toilet paper? Why is there hyper-inflation and electrical shortages and no gasoline in the country with more oil reserves than any other?
The answer is socialism. Maduro’s response was to nationalize just about any other private corporation within Venezuela – leading to (expectedly) disastrous results.
That’s what happened. But in NBC’s “breakdown” there is no clue as to the origin of this crisis: Socialism.
As our friends at Investors Business Daily put it:
[I]t is socialism, not oil prices or the weather or greedy businessmen or any other such factor that’s to blame for Venezuela’s economic crisis. This is what socialism produces. Always and everywhere … Why do reporters ignore the obvious? We’d surmise that it’s largely because liberal journalists are infatuated with the idea of socialism.