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Socialism Sucks: Venezuelan Authorities Illegally Seize General Motors Auto Plant

Thursday, April 20, 2017 9:09
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Can the situation in Venezuela get much worse?

Socialism has left the nation in ruins, with citizens forced to take extreme measures, just to get the most basic of necessities.

Those memes you see of long lines and empty bread shelves to depict the effects of socialism? Those are a reality in Venezuela.

Protests are raging in the streets, as desperate citizens demand a change, and it’s only getting worse.

Over at The Resurgent, I did an earlier piece about the Venezuelan government disarming Venezuelan citizens in 2012, in the interest of “ending violence,” but now proposing to re-arm a pro-Maduro militia, in order to defend against the unarmed citizens who just want to be able to eat on a regular basis.

Here’s another twist in the ongoing lesson piece: Socialism is a Bad Thing.

The Venezuelan government has seized a General Motors plant in Valencia, Venezuela.

From Reuters:

“Yesterday, GMV’s (General Motors Venezolana) plant was unexpectedly taken by the public authorities, preventing normal operations. In addition, other assets of the company, such as vehicles, have been illegally taken from its facilities,” the company said in a statement.

It said the seizure would cause irreparable damage to the company, its 2,678 workers, its 79 dealers and to its suppliers.

Venezuela’s car industry has been in freefall, hit by a lack of raw materials stemming from complex currency controls and stagnant local production, and many plants are barely producing at all.

Ford took an $800 million pre-tax writedown in 2015, writing off its investment in the embattled nation.

Food, drug, and even cleaning companies have felt the oppressive crush of doing business within a socialist nightmare state.

Venezuela’s government has taken over factories in the past. In 2014 the government announced the “temporary” takeover of two plants belonging to U.S. cleaning products maker Clorox Co which had left the country.

Venezuela faces around 20 arbitration cases over nationalizations under late leader Hugo Chavez.

The next time Bernie Sanders or some Ivy League talking head wants to pump up the joys of socialism, maybe point them to Venezuela.

The post Socialism Sucks: Venezuelan Authorities Illegally Seize General Motors Auto Plant appeared first on RedState.


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