The Difference Between Communism and Socialism
Socialism and communism are umbrella terms alluding to two remaining wing schools of a monetary idea both contradict private enterprise. These philosophies have roused different social and political…
Showing posts with the label Socialism
What China Gets From Giving Venezuela $45B
The largest Venezuelan note is now worth 12 cents. Next week, the IMF is holding meetings in Lima, Peru in the region that has suffered as much as any other from the global slump in commodities. It&…
You Pretend to Work, Putin Pretends to Pay You
The "resilient" Russian job market. The self-deprecating joke among the lumpenproletariat in the USSR near its end was that they pretended to work, while the Soviet Union pretended to pay …
Death Wish 6: Tsipras, Greek Financial Suicide Co-Pilot
Hitch a ride with the infantile Tsipras. Andreas Lubitz , the suicidal Germanwings co-pilot who crashed an Airbus A320 into the French Alps, has understandably gone down in infamy for his actions. S…
China's Enduring War on the Bourgeois Sport of Golf
Seen an apparatchik thereabouts? Call 1-888-JAIL-CORRUPT-OFFICIALS. It's good to know that some things never change: Despite China turning more capitalist than many Western nations in terms of th…
China's Corruption Crackdown & Selling Private Jets
Of champagne wishes and caviar dreams interruptus . It is generally well-known that the ongoing Party-led purge--they have these sorts of campaigns in every generation or so--has negatively affected…
Redefining 'White Elephant': N Korea's New Int'l Airport
Hoping for a less lonely planet than this, they're building a new international airport. The term "white elephant denotes massive investment into something which ultimately has little or no …
25 Years Later, are Post-Communist Europeans Better Off?
Did 1989 really matter all that much economics-wise? 9 November 1989 is the date when the historians consider the Berlin Wall to have gone down. Festivities in Germany have marked the twenty-fifth a…
Adios, Yanqui: Argentina Kicks Out Procter & Gamble
Argentina sends P&G back to Cincy. Talk about an odd fixation. There is something about the Latin left and diapers. In Venezuela nappies are a scarce luxury item which you cannot find in most st…
How Venezuela Gives Socialism a Bad Name
Living the socialist dream? Shortages of basic goods abound. It is hard to dislike the aim of socialism--egalitarianism in resource distribution among the plenty. However, years and years of experie…
Forex Fantasyland: Venezuela's 'Official' Rate
Would you like some truth with that? Latin America's current state-of-the-art in economic mismanagement is exemplified by Venezuela, but that's not really saying much for it's arguably b…
World Cup: Spain Loses 5-1, 'Socialist Football' Ends?
Spain's old guard looked, well, old . The rematch of the World Cup 2010 finalists Spain and the Netherlands was highly anticipated since they were paired in the group stages this year. Spain was …
A Guide to Venezuela's Now Four-Tiered FX Rates
Just count 'em! How many bolivars do you need to exchange for 1 USD? Here's the handy-dandy IPE Zone guide for understanding the economic wasteland that is modern day Venezuela: 6.3 bolivars …
Venezuela's Bolivarian Revolution is Dead, Long Live F1!
Sorry 21st century socialist sympathizers, but the economic and moral bankruptcy of Hugo Chavez's Bolivarian Revolution is becoming more apparent with each passing day as his successor finishes o…
The Day Venezuela is Fully Nationalized Approaches
The economic implosion of Venezuela is interesting insofar as the voters have repeatedly chosen Hugo Chavez and his anointed successor Nicolas Maduro despite them consigning the country to economic o…
Venezuela Nationalizes Toilet Paper Factory
"I am the Great MADURO", etc., etc. [NOTE: For those unfamiliar with the "Beavis and Butt-head" reference, see here and here .] If this is an example of socialists taking over t…