Socialist Venezuela Owns Hundreds of Companies and Most are Going Under
Brandon Morse reports at The Blaze:
More bad news for those who believe socialism is the way to go, as more information has surfaced about Venezuela's ever crumbling finances and infrastructure.
According to information recently garnered by the nonprofit Transparency International [TI], Venezuela's government owns, or has a majority ownership in 511 businesses within the country. Sadly for Venezuela, 70 percent of these companies are bleeding money, and potentially contributing to Venezuela's continued financial downfall.
"We started this study because nobody really knows how many companies the state is running," said Mercedes De Freitas of TI, according to the Blaze. "The state has invaded every sector imaginable."
"The amount of money lost by the companies isn't something to scoff at either, with 2016 seeing a total of $129 billion gone from the failing businesses," the Blaze reports.
"Venezuela's ownership expands out to things such as toilet paper, medicine, cellphones, milk, which [are] also the things Venezuela is tragically lacking," the Blaze continues.
"Venezuela's citizens have been relegated to literal and figurative bread lines in order to get the food and supplies they need for everyday living," the Blaze concludes. "Women have even been sterilizing themselves to avoid bringing another mouth to feed into the world," and many Venezuelans "have lost dangerous amounts of weight due to starvation."
Read more here.
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