Venezuela is proof that socialism does not work. The country has now lashed out against the United States as their economy continues to implode.
General Motors is halting all operations within Venezuela after authorities from the socialist government suddenly seized their vehicle production facility Thursday. (via CNN Money)
General Motors Venezuela (GMV) has been operating in the country for almost seven decades, and did not except the sudden takeover.
The socialist government issued an embargo on the company and seized cars and other assets across multiple facilities.
General Motors has also lost control of its bank accounts held within the socialist country, blocking them from making any further payments to employees or others.
The automaker is planning to take every legal action available both inside and out of the country. However, success is unlikely, as the courts are controlled by judges loyal to the socialist government.
The seizure of the factory should act as a warning to all businesses operating in socialist regimes. If General Motors focused on building factories within America and hiring American workers, they would not have had this problem.
The Venezuelan government has been acting more aggressively towards capitalist enterprises as their economy is melting down. The country has increased the rate that they are nationalizing businesses, as their citizens starve.
The absolute failures of the socialist experiment in Venezuela should act as a warning to liberals the world over. Despite having one of the largest oil reserves in the world, the economy of the socialist country has been in sharp decline over the last three years. The economy shrank a whooping 18 percent in 2016.
The populace has erupted in mass protests and riots after President Maduro blocked an opposition politician from holding office for 15 years. Maduro continues to consolidate power, increasingly taking on the role of a dictator. At least nine protesters have been killed.
Venezuela is just the most recent proof in a slew of countries who have attempted socialism, destroying their economy, citizens’ livelihood, and freedom.
Socialism always leads to economic collapse and dictatorial control. Socialism relies on government sponsored violence to maintain control, and is inherently anti-freedom.
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