The Economic Nightmare of Cuba and Venezuela Rolls On

When alive, Fidel Castro from Cuba and Hugo Chavez from Venezuela were thick as thieves.  Birds of the same feather always flock together! The same can be said about Latin American totalitarian regimes. These so called people’s revolutionary leaders would constantly get together and talk about how evil America was while their countries’ economies crumbled around their dysfunctional socialistic propaganda.

The Cuban and Venezuelan immigrants who have come to the United States have been incredibly successful, have built businesses, sent their children to universities and have greatly contributed to American society. Meanwhile, the countries of Cuba and Venezuela have continued to rapidly deteriorate into economic basket cases not because of the people living in these countries, but because of the political and financial policies that have run these two countries into a ditch.

Venezuela has the largest proven oil reserves in the world.

The country also ranks 13th in the world for oil production. The country produces 0ver 2,400,000 barrels of oil a day and has very little to show for all this revenue coming into the country.

Year after year Venezuela has gone down the drain economically and yet the dark crude continues to flow from its pipes into experimental and disastrous spending policies which bring the country practically to the edge of being a failed state. Crime, corruption, inflation and the shortage of basic goods rule the everyday life of the average Venezuelan.

As for Cuba, decade after decade of dictatorship, false promises and fiscal mismanagement have left the country rudderless as the economy continues its downward spiral into the abyss. One of the few valuable exports that Cuba can offer is to send its medical doctors to countries like Venezuela in exchange for oil. 

On the import side, money sent to Cubans from relative’s living mainly in America help to ease the day to day economic pain the Cuban people endure. 

Without these two forms of assistance consisting of oil from the Venezuelans and money from relatives in the States, Cuba would collapse.

A look at the Cubans living in Miami displays just how much better off the country of Cuba would be if the country was free from the dictatorial grip. The Cubans of Miami are some of the hardest working entrepreneurial people on the planet. Miami is a much more vibrant and economically stronger city with the decades of Cuban immigrants who have come to make the city their home. Imagine were Cuba would be today if it was free for the last several decades? A little island filled with all those industrious hard working people with close ties to not only the United States, but also the rest of the world. What a waste these past decades have been for Cuba!

The new president of Cuba Miguel Diaz- Canal will stay on the Castro train.  Nicolás Maduro who is totally incompetent and does not have the strength of Hugo’s charisma is trying to hold it all together as Venezuela falls increasing apart all around him. Meanwhile, the people of both countries continue to suffer and loose opportunities to better their lives while the socialistic nightmare drum continues to beat on.

 

See also:

Global Economy

International Relations

The U.S.A.

 

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