Venezuela Collapse Explained
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Venezuela - The Fall of an Oil Empire explained by Patrick Bet-David. Subscribe now. For a FREE PDF of these points, text: 747-260-8461 or visit: www.patrickbetdavid.com/venez...
About Venezuela: Venezuela is a country on the northern coast of South America with diverse natural attractions. Along its Caribbean coast are tropical resort islands including Isla de Margarita and the Los Roques archipelago. To the northwest are the Andes Mountains and the colonial town of Mérida, a base for visiting Sierra Nevada National Park. Caracas, the capital, is to the north.
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*Are bringing any guns? Then you’re not changing a f@cking thing*
_John Rambo_
I forgot how re______ you are
I'm Venezuelan and I live in Venezuela. This explanation is perfect.
Chavezoid what part of Venezuela are you from there is a majority who are not greedy and believe Maduro is doing a good job and the minority who is against Maduro who believed their ruling class ought get all of the money
What about the US sanctions?
@@josephsolomon7935 ...Majority? Hey. If you know more about my country than I do, then why are you asking me? Keep believing what suits your personal beliefs. I can throw all the stats in your face, the latest Mitofsky or Datanalisis surveys, the sentiment on the streets here, the crimes of the OLP, the acts of the colectivos, how the government is the country's biggest employer and its high members are the richest Venezuelans, the 53,798,500% inflation in just three years, the three-dollar-month ($3) general wage, the 5 million refugees and exiles, all the jailed or exiled congressmen, the murdered students, the state of the power grid, Alex Saab and the CLAPs, Maduro's nephews in the drug trade, the Bolichicos of Derwick Associates, Tarek El Aissami and Samark Lopez, Maria Gabriela Chavez and how she became a billionaire and moved to New York "selling Avon," how Cuba receives 50,000 to 90,000 barrels of Venezuelans oil a day for free, the 40,000-strong Cuban occupying force in Venezuela, etc. I can tell you all, and you will still say "Viva Maduro" just because he claims to be socialist and is anti-American. You don't care about us, you just care about defending your ideology.
@@iamhimmiii_nutron ...the sanctions are that US companies cannot sell anything to the Venezuelan government, and they began recently. We've been having shortages and blackouts since 2006. Private individuals can still import anything from the US, and they do. The supermarkets where the high government people buy are full of goodies from the US. But we supposedly don't need trade with the US anyway because according to the government we are "independent and free from Yankee imperialism." So ...
Do you eat dirt?
"There is nothing more expensive than what the government gives for free." Peter Schiff.
There is no such thing as government money. Funds are all coming from taxes, therefore nothing is free, you simpleton.
@@ivanpetrov-xf3on Yes, that's the point of the statement, that nothing is free. There is always a cost to the taxpayer and it is more than it otherwise be than of purchased on the free market.
@@heatherfeather9951 I see your point, but every person should be aware of the way economics works and what is tax, how it's used, where does it come from, etc. Unfortunately things like this (economics, geo-politics, etc.) are not being taught in the schools, which is the main reason why most people are easily misled to believe all sorts of ridiculous things.Never the less democracy is solely dependent on educated people, so even if the government doesn't want to help the people to learn about those things, citizens should do it themselves.
You forgot to explain why Venezuela is doing so bad? Socialism oppressors turns into communist. The communist army are at the necks of the people's oppression. This is what really made Venezuela fall into the state that it is in case closed.
@@garyhiggins9148 I thought Venezuela failed cause they depended on oil money and had bad policy. What's all the extra stuff uppity talking about.
Ivan petrov, you need to apologize
I'm a Venezuelan living in USA. All of what you're describing in your analysis is 100% accurate in both economics and politics (Capitalism against Socialism "Communism")
Right
i dont think the issue is capitalism or socialism. the issue is venezuelans are mostly incompetent
i love this guy. it takes an outsider to see what the natives can’t see.
he speaks to the truth of socialism
You learn more from him in one video than in 4 years of college.
Most meople in venezuela know that the crisis is because of the leftist economic policies. Now its true that not everybody has the in depth understanding on why those policies created the crisis, but the "natives" know what was that destroyed their lives and separated their families. (I'm from venezuela btw)
@@gustavomendez2891 so what is exactly causing it?
Define socialism
@@justinweismermedia8603 workers owned the means, state controls.
I love the way he breaks it all down. It's easier for my kids to follow and they actually do it with enthusiasm
Read what I posted it will be even clearer.
His story is a half truth, don't be fooled by the propaganda.
Your kids are going to do great.
Nick kalsi im so sorry for your kids and I'm not even joking, they're being grossly misinformed. If you sincerely want to know what's really going on in Venezuela, the United Nations sent a special representative to investigate the situation there, his name is Dr Alfred De Zayas, go sit and listen to him with your kids. There are plenty of interviews with him right here on TH-cam.
@@mmoxam6963 thank you
I could spend an entire day watching to this guy's videos and never get bored.
Not only his explanations are simple but the video editing is fantastic.
I don't no, I smell a con.
No con...legit. incredibly successful analytical mind. Listen CAREFULLY
The most terrifying words in the English language are: I'm from the government and I'm here to help.
Ronald Reagan
Then explain the successes of social democracy?
@@tungumal1584 A few things worth considering...A question first...
What's the difference between a 'gang' and a 'civilization'?
Surprisingly a lot less than you first might think...
First...they both are fundamentally hierarchical structures designed...for the 'few' to exploit the many...
Now I understand that perfectly...so forgive me if I object to people having a 'free lunch' at my expense...
Yes, you guessed right, I'm on the hard right of the political divide...
But unlike most of my friends on the right, I DO accept 'socialism' under certain very specific circumstances can work quite well...very well.
One of the 'prerequisites' though, is a great deal of social cohesion...one group comes to mind immediately ...The Jewish
No one does that 'collective' spirit quite like them...and the world and it's mother could learn quite a lot from their 'collectivism'...
But I would argue they are unique...their 'faith' joins them in a way no other thing can..
The Scandinavians up to quite recently had that same 'esprit de corps'
Their shared 'Norse' heritage seemly sufficient to form that shared bond.
But in a highly individualistic society ( American ) it can never work...it worked well in the beginning when you were talking about a white protestant monoculture...but that was a different time...
Collectivism works best in hard times...in 'good' times it is a limiting factor in human achievement...
Churchill summed it up perfectly...it's all about balance...
"If a man is not a socialist by the time he is 20, he has no heart. If he is not a conservative by the time he is 40, he has no brain." - Winston Churchill
@ikm64 what would societal homogeneousness have to do with anything? Sweden is a country full of immigrants, and the system works there? What you’re saying is just a theory, it’s most likely a coincidence that most of those societies are homogenous.
@@tungumal1584 those countries were rich before they increase their taxes and social features, and when Sweden or France start implementing those benefits they stop growing, salaries got stagnant ,their birth rate dropt , those laws were not successful. and those places are not much different then the usa
@Emanuel Riquelme Montoya those claims about salaries and birth rates are simply untrue. Those laws have done wonders for those countries and they are far more successful than the US enjoying extended lifespans, better happiness, paid maternal leave, job safety net, etc. the list goes on.
11:05 "If you can't pay your own bill and you solely rely on somebody else to pay your own bill eventually the ability to pay your own bill goes away. Your muscles become so weak that all of a sudden when it's pulled, it's a crisis." Some of the best words I've have heard to explain why....socialism doesn't work.
"Never, ever rely on somebody to pay your bills for the rest of your life."
It's true, happened to me !
Good words by him, bad interpretation by you. Socialism would nationalize natural resources. For instance, our oil profits would go to the people instead of a single corporation or family. If you want Kings and Queens to rule your country, then you put the country's natural resources in the hands of the few. If you want democracy--true democracy--then you put the natural resources in the hands of the people;)
Best explanation of what happened to a large portion of the population of the Soviet Union.
@@ferich2001 lol you guys are so damn misinformed.
Hmmm...?
Agreed!...
Any more “complicated analysis “ diverges from strict facts & meanders into emotional beliefs, ideological “good fights” and absurd pie in the sky premises.
Contextually in the reality of what they have in terms of resources & geographically where they are situated to the worlds greatest economic powerhouse - ONLY shame at admitting the present course is wrong & hatred at the thought of changing course ( by whatever it takes) is what keeps prosperity away from that land mass called Venezuela.
Like peasant told that despite the super wealth of the elite his only hope is to do what they say & listen to their beautiful words while he & his family starve to death. Then fast forward to 2019 and the descendant of the same peasant- having already experienced First World standards of education, economic security & plentiful food is told the exact same thing.
As a friend of the United States they can reclaim their former lofty position of either the richest or one of the richest countries in the Latin American world. AND get progressively richer.
As a socialist paradise with a rich class of people close to the president while the majority of people are starving & economically destitute the situation begs the question: 1. For how long? And,
2. Why don’t all the other communist countries & proudly socialist ones share their vast knowledge of success & bail them out? Could it be that only capitalism can truly save them?
Sad.
I'm Venezuelan, I've been saying this for over fifteen years, but my fellow Venezuelans paid no mind. Life isn't free and agree poverty makes people reliant on the government and others. Working together is key. Unfortunately, history repeats itself.
I agree with you. Oil-price manipulation and the unforeseen consequences were the primary culprits. I don't entirely blame poverty, but I can see how it might hinder motivation. So, I would say that it's a contributing factor. I hope your country can once again thrive as a nation, and as you said, come together. Identify your strengths and innovate yourselves out of this mess. Start a Kickstarter project, and don't let the government try to shove you around.
@@g_skul4970 WRONG. What Sky D says & what en-david says at 6:09 went clar over your head. The PROBLEM is that Chavez did not save for a Rainy Day. "give it all away" (to "buy" votes from stupid, short-sighted parasites who didnn't want to WORK once the economy was flying high enough to gain '99% employment rate' is THE POINT after 6:09. ...and at 6:40, the point is that govt of Chavez gave SO MUCH money to ppl who *_IMMEDIATELY SPENT IT (thus CAUSING pric-inflation, WITHOUT any WAGE-inflation)_* instead of being a 'responsible dad' (Father Chavez) to keep that money 'in savings' (which does not cause price-inflation) for a 'rainy day'. A wise father stops his immature, uneducated or desperate 'chidren' from spending it ALL at once like the "dumb lottery winners" in usa are known to do. Ben-David gave a GRAT presentation, and 99% of the peope here saw th Big Picture, but you appear to have stopped watching aftr the OIL segment (at 6:00); I'm not sure if the video after 6:00 was IDEOLOGICALLY inconvenient to you or if you have ADD.
@@thebutcherofbenghazi.libya3348 You make a strong argument, and I am not denying your statements. I was just pertaining to peoples ignorance and selfishness, not being well informed can lead to these problems; therefore, leading to Venezuelan facing these dire consequences.
Hey, yeah. It was great presentation and I agreed with 95% of it. I also agree with your points, too. Where I got caught-up was the lack of macro-economic causation, which also needs to be considered. He did a great explaining the flaws in their system, the micro-economics, and the behavioral response of their people when their economy started collapsing. Nothing about the effects of globalization on their economy, and very little information regarding how it affected the other 50% of their GDP. But, it's all tied together, so I think I just wanted more out of the lesson. Either way, it was still good. @@thebutcherofbenghazi.libya3348
it's the lack of knowledge that's the problem not the politicians majority of people vote for it's no different giving your car over to a mechanic without doing any background check
the kind of knowledge of going off grid is also helpful in any collapse
making your own activated charcoal
learn to grow microgreens
solar panel
just a few things to invest in instead of wasting money on pharmaceutical drug companies, night clubs, and waste of a time dstv,
all glory, honor, thanks and praise to the MOST HIGH
I"m from Brazil and I've seen the venezuelan situation up close. Actually I did some extensive research on the venezuelan economic history and I wrote an article which basically says what this video is saying.
I could include one information to show even more strongly how the oil prices shape the venezuelan economy: From 1973 to 1979 the prices of the barrel of oil were very high and Venezuela had a nice age of prosperity, The governement could use all this money to diversificate its economy but instead it made a lot of social programs and continued to be dependant exclusively from one single comodity (oil).From 1979 and on the prices start to drop and the venezuelan situation starts to degrade and in 1989 they had a terrible crysis (search for the "carazo"). The venezuelan situation follows a cycle.
Put a link to the *article you wrote*
Correct
@flownet07 that's the history of man kind. Ignorance... and specially from those who think they're exempt
Realidade_Mundial Can you share the link of your article please, I’d love to read it!
@flownet07 Same here in Argentina, a group of motherfuckers in the past made people believe they deserve everything without effort and the government has the obligation of provide them with everything. So 60% work hard to pay the free stuff of the rest... Same mindset, destroyed a few generations, so sad to see. And you need to add corruption to that. So yes, people dont learn from mistakes in the past...
It’s amazing how Michael Moore does documentaries about how terrible capitalism is, when he made $50m from capitalism!
oh I'm _sure_ he gave it all to charity (the fat stupid f**k)
@@beeteeinc87 Hate Moore and his stupid docs. In fact I though "Roger and Me" was a comedy. Others blame workers for racism and not the upper and middle class who make all the decisions regarding race. We don't set up racist barriors but he does. Screw him and the rest of the no good Clinton lovers.
@@kimobrien. Okay
Moore's analysis on Brexit was so stereotypically "Woke" it made me laugh. The usual champagne socialist diatribe- "The British want to live in the past". "Brexit was based on racism". "The proles were turkeys voting for Christmas" etc etc.
That fat blob IS one of the one percenters. His money comes from preaching to the converted- hypocrites like himself.
@@stephenmcdonagh2795 I realise this is an old comment thread so I may not get a reply but if you're reading this can you explain Brexit to me from your perspective? Many thanks
The most balanced analogy where everybody must see to understand the broader economics
Hyper inflation, a dollar today 12months later then cost $130. Venezuela is even worse. Prayers go out to the people living there.
No doubt
As a Venezuelan, I tell you, its worst than that, every two weeks or per month prices raise 2 or 3 times
Hence, people put their $$$ into BTC. It hold value.
JJPR259 I hope it gets better
HappyHusbandn Wife it’s definitely worth looking into
Thanks for sharing. Perspective. This is happening in South Africa. It happened in Zimbabwe except there is no oil, but there is gold and platinum.
JY IS REG MY MAAT.Klein klippies gaan nog gekak word in die land.Die wat het sit dit om in goud dollor en na die buiteland.Dan het hulle nie meer geld vir uitdeel en steel nie.
But there it was all self inflicted. The USA wasn't standing over them
Economic hitmen
I am in South Africa, the government can't even fund small businesses. They are sleeping on the youth... Unemployment rate is increasing.
@@johndoyle1372 wrong..this started when Chavez kicked out ALL of the rich oil companies from the USA and France..so the USA put SANCTIONS on Venezuela!..AND tried to do a Regime change that FAILED!..without SANCTIONS..Venezuela WOULD survive!!..USA GREED will eventually will suffer the SAME as they dish out!..this is NO different than Saudis starving the YEMENS...that's how COLD hearted Trump IS!!..WE DO NOT BELONG IN OTHER COUNTRIES TAKING WHAT IS THEIRS!!!!!
I like this guy. I like how he breaks things down. Textbook 101. I just hit the subscribe button.
"Don't let people pay for you because you will lose the ability to pay for yourself " - nice!!
This is really an economic lesson for each of us - diversify your income stream and reduce your expenses.
More like turn over your resources to US interests or they'll destroy your country.
@@robertdabob8939 "Diversify your income stream" Oh Okay I get it diversify into Microsoft, GE, GM , Ford. NBC and CBS so no matter where the next crisis hits I still get dividend checks every three months. For the rest it means diversify into more part time low wage jobs in retail.
the lesson is give your oil to nato/usa or we put sanctions on you and try to do "regime change" until you change your mind
Venezuela is doing that right now. They have no choice under crippling US sanctions. And, sell your oil in anything but the US dollar..
And no fake friends
Big thank you pat!
I’m Venezuelan and I have to be so grateful with you with this wonderful explanation pointing out how socialism destroys everything on its path. Well done, I’m loyal to your channel and content, you have a good work team, I see it everyday on the way you make your videos, how it is edited, the way it is published and the approach to it.
This channel is one of my top-rated in 2020! Great job Patrick and the team!
That was the best explanation I’ve ever heard. Please keep doing what you are doing! You are a positive motivational speaker/coach! You and your dad/family are a fantastic example of what a free democracy / capitalism can offer. You are talented beyond belief and you are an inspiration to all. Thanks for sharing your knowledge and experience with us. God bless you and your Family!!
I been following him for the few weeks, he opened my mind, I can’t say enough good things about mr Patrick .
Glad you found us
"Free" means taxpayer funded. And that well... is not exactly free.
Well no, not taxpayer funded: The Oil industry was nationalized and the revenue goes directly to the government
@@daveed467 Along with almost every other industry in Venezuela, they were all expropriated.
It's free to all the people who have nothing to pay the taxes on :P
It's not free if it's an investment. You will see returns.
@@RunOs3 Then It would be nice if the left stops using the word "free". Investments are not free.
Why is it that about 50% of voters don't understand what you are saying? Your ideas are elegant in their simplicity, and you explained them very well.
I think I've learned and gained more insights on history, politics and macro economics from these videos then I have in the past few years of my own studies into these subjects.
This guy is incredible!!!
Who learns more knowledge from TH-cam thru *Valuetainment* than school?
learn how to go offgrid helpful knowledge in any collapse
all glory, honor, thanks and praise to the MOST HIGH
Good point
His view is good, but some of the view are biases, especially taxes and education. Tax is like your monthly income, the US has problem with TAX AVOIDANCE from big companies since military funding will be the same, if big companies pay little to no taxes, the people will foot the bills.
Then Education, It's not "Free" Education, it's how Higher Education allows more jobs in a country. Just like 150 years ago, "FREE" High School Education allows everyone to read and write and enter Industrial Revolution.
Now everyone is at high tech sectors and High School Degree won't do it anymore, so require "Free" Higher Education to adjust to it. Otherwise many hi-tech sectors jobs will not be for Americans and Americans won't be able to compete on lower jobs sections to China or Africa.
@@CuongNguyen-le5ic if K-12 does its job, and teaches kids how to think instead of teaching them what to think, then higher learning can be achieved without going to university. There is more knowledge at our fingertips than any one person could possibly take in throughout one lifetime. I think we could at least agree that higher learning institutions are a giant waste of time and money, no matter who pays for it, when young adults major in "gender studies" (or one of the many other similar "studies" that are completely useless). Those types of courses, I dare say, do nothing beyond causing harm to the people taking the classes, and to the entire country as a whole.
@@BeoKrakr Except not many people will do what you said.
Higher Education like College or University is just a FILTER. I have my own B.S degree here and it couldn't get me a job since I graduated in 2009 at the worst time for job seeking.
However, like I said, it opens your mind to better thinking. Higher Education is just a start, it's not the end.
Yes, there are lots of things you can learn online now, but companies still prefer you to have a degree. WHY?
Because having degree from big university PROVED you actually spent time and effort to get them. It's just the first step to show companies that. Those companies don't know about them or anything, you can tell them you learned things online, but that's only YOUR WORDS. Some companies may give you a chance to prove what you said is true, but coming from applicants of thousands of people applied, they will get the people with degree first.
Understand Degrees from Big University is just a FILTER part, then you have to prove yourself after.
Chavez and Maduro did very little to diversify Venezuela's economy since 1998. Nationalization and expropriation dried up any foreign or domestic investment. When prices went up and shortages appeared, controls on the economy were rigorously applied. Maduro could have contemplated this while dining in Turkey on Gourmet steak.
evolve or die.
Basically they had no plan b
What an amazing video. I love how you can simply explain complicated situations. I'm very glad that I came a cross of your channel. Thank u and your team for the great work you guys do.
ABSOLUTELY brilliant !! This is the kind of teacher needed in the schools and IN THE WHOLE COUNTRY!
When politicians who have never run businesses before are put in charge of the economy, mismanagement, corruption and waste is almost guaranteed. I have friends in Venezuela and the situation is worse than any of us can imagine.
Character is critical. Building on the right values and principles. Lmk once you watch the entire episode.
Yeah, and this problem is exasberated because early on, when you have other people's money to spend, it works great. Then you run out of that, and people just think they're not doing it right. Those people just wind up voting for more socialism.
@@VALUETAINMENT Little off topic but what about Andrew Yang running as a Dem? Business background but proposing UBI..
economy, mismanagement, corruption and waste is almost guaranteed! Which country are you not referring to?
dude, not only, that, but what the international comunity and many socialists fail to see or dont want to see, its that Venezuelan goverment its not inept, the fall of venezuela was on porpous by its own chavista goverment, Why? because a failed country, with no real institutions, a destroyed economy, and no juridic security, its PERFECT, to create criminal organizations that will make fortunes suppliying at high prices what is in shortage, crime and violence to reduce the population capacity to fight, if that mafia its also the goverment itself, you have a country that with a black market dollar, can get, a shitload of bolivares, from very few dollars,and can print money without value to pay for goverment expense, increasing at the same time inflation, that will rise the dollar value, againg getting more bolivares from few dollars to also cover public expenses, and yes most of the dollars that are sold in the black market in Venezuela, are sold by the goverment. again why the venezuelan goverment takes away eeverything from its people but at the same times it gives them a litlle, the hope that they could get a free home, or cheaper food, or small amounts of money to certain people, because, if you take away everything they will have nothing to lose, but if you take it all but a few things, those few things becomes almost to valuable to risk it fighting.
This video should be shared with every and each government in the world! Keep up the great work Patrick and the whole team! Regards from Croatia!
Another one from Croatia :)
@Tin Tencic and regards from Pearl of Adriatic 🌅
PROPAGANDA
Never stop teaching Patrick! Your love to learn is contiguous.
I’ve been watching your videos for the passed few days, after the first video i instantly subscribed. Ever since I’ve been watching at least two videos a day from your channel, I love your content !! so informative ! thank you !
You have the best presentation skills I have ever seen 👌🏼 big applause from Slovakia 🇸🇰
Why don't we talk about Venezuela want to sell oil, not in Dollars (Petrodollars)?
Because thats actually why weve sanctioned them to high hell... We only want to topple venzuela and install our own little fascist dictator so we can wait.. not "we' so the oligarchs can control the worlds largest oil reserves (Koch Brothers have a shit ton to do with this )!!
That's why Venezuela is at this situation. Nothing to do with socialism. This guy is one sided biased dumb and misinformed.
If you have any video regarding this please share the link
Venezuela doesnt want to sell oil in dollars because Russia has loaned Venezuela a lot of money and they are urging them to refuse oil to u.s. Russia is doing this because the U.S has a deal in place with Saudi Arabia to only accept u.s dollars for their oil. Russia (and many other countries) hate this for obvious reasons.
They can't talk about it. Ironically!!
Holy shit, this was like a movie. You brought back the divorce from the beginning. Great story telling.
He's a phenomenal salesperson.
"Socialism is great until you run out of other people's money."
-Margaret Thatcher
Thatchers strict individualism is nonsense too though.
th-cam.com/video/oENI8NnTx0w/w-d-xo.html
Capitalism works until you become to big to fail, need a bailout and quantitative easing lets you trade junk bonds for cash at the Federal Reserve.
Funny but considering that we view labor as entitled to all it creates your billionaires exploiting workers making sometimes less than minimum wage looks a lot more like "spending other people's money" than boo hoo poor billionaire that can literally by the full NFL and still have more money than many countries having a moral responsibility to not horde that wealth while human beings are literally starving to death
@@tyrozinehappykitchen Minimum wage was meant for teens as a stepping stone. Now people have a choice to stay at minimum wage or move up. I started at minimum wage, then after 3 years of experience a I worked somewhere else where I got more money. Minimum wage was never meant to be career wage.
@@usssanjacinto1
That's a myth told to you by rich people to excuse them from hoarding stolen wealth.
If you say that not everyone deserves a living wage, you are saying that not everyone deserves to live.
Incredibly important point about not giving the government too much control. Just because one administration is doing amazing things with their power, the ones who follow won't, and they will be incredibly inefficient and destructive. Look at literally every government that has ever existed.
Where do you learn about business ?
School:No
Valuetainment:Yes
👊🏼
Same here bro. This channel is great
👌👌
this is a put down. First, if he as to explain the Venezuelan formula, which is not isolated to Venezuela, the listener with the average American attention span of the length of a fart, wouldn't learn anything. What is your problem or am I just misunderstanding your post?
So, Prajwal Basnet, you clearly never heard of Schools of Business, of Master degree in business administration (MBA). Have you been living under a rock for past 5 decades?
Love the way you break things down and explain them!!!!👍
You are a Great Teacher, every time I watch one of your Videos I feel like it was time well spent, and I feel like I learned something valuable. Thanks man :)
Teacher: How do you know so much about politics and economics if you are only 16?
Me: I'm Venezuelan
and Ben Shapiro, we can't forget aboutshapiro
@@daviddorante3283 Don't forget Ron Paul and Milton Friedman
He don't look 16 to me!
From what we can see about Venezuela the problem is socialism !!!
@@sonnypruitt6639 it was the joke. Read it as unrelated to the video.. He did not suggest the speaker was 16.
"The problem with socialism is that you eventually run out of other people's money." - Margaret Thatcher.
"If you think health care is expensive now, wait until you see how much it costs when it's free." - P.J. O'Rourke
yes quoting 2 people who are very far to the right old and or dead
makes you seem really intelligent yes, they definitely don't have their biases and nothing to gain at all in making those statements, in P.J. O'rourke's case just misleading
THE PROBLEM IS THE HUNGRY WHITE PEOPLE WHOM WHANT ALL.. and they don't care killing people.. or starving people to death just to get what they want..that is everything none white people own..
Facts hurt feelings lol
ALLS ALLS You are an illiterate simpleton.
But according to a study funded by the Koch brothers universal healthcare would be cheaper than the current system. You been duped.
This was the first valuetainment video i ever watched. The amount if work he put in and in depth explanations was phenomenal.
PBD is the goat.
waooooo....this was powerful,love it...am from Kenyan and this open my eyes in a bigger way,thank for the knowledge .....i did subscribed
Oil markers are WAY more complex than this. Its not price collapse or reserves that matter, its the ratio of extraction cost to global price. For the Saudi's its $8-$9/barrel, its costs between $40-$90/barrel for shale & deep sea oil common in the Americas. Meaning below a certain amount their reserves become essentially useless no matter how much they have.
So, low prices benefit Saudi Arabia at the moment b/c it eliminates competition. & also, it reduces further development in oil exploration & infrastructure in these other countries b/c of potentially low returns or negative returns for investors. & this further benefits the Saudis & other low extraction cost producers.
@@tommmmo1981 My guess is, China will come in and build refineries. The US just want to starve the country to death through sanctions. The irony is, even assuming the socialism is the reason the country is poor today, what Chavista movement Venezuelans see is massive outside sanctions and embargoes cutting them off from world markets. That strengthens their ideological resolve, if anything, makes them back Maduro and hate foreign countries.
Also picking Guaido as an alternative is the worst choice imaginable. He's the Venezuelan version of the Speaker of the House. That's like foreign countries telling the US, "we consider Trump and Pence illegitimate, hence Nancy Pelosi should be the interim president, at least until the next elections." How'd that go down in the country, even among people who despise Trump? The guy is the opposite of popular. He's a light-skinned guy from the ethnic class that used to run Venezuela pre-Chavez, in the neoliberal days. Most Venezuelans hadn't even heard of him before his failed coup attempts.
At least find a Mestizo guy who connects to the people! Like a Venezuelan Obama...
@@OolTube02 Your an idiot
Not really effective oil prices for saudi arabia are like 60 to 80 a barrel. Because thats all they have as oil is 85 to 90% of their economy. All muslim countries that are rich cant produce anything due to their shitty ass culture and people. Therefore the only rich muslim countries are ones with oil.
@@iskdude9922 incorrect. Saudis Oil production costs are $8.89/barrel(source below). Its $10 in Iraq & Iran; $44 in the UK, $17 in Russia, & $23 in the US. So by your logic- Iraq, Iran, Russia, & the Saudis all must have "better cultures" than the UK & U.S. b/c high oil prices=shitty cultures..?? Pretty ridiculous logic.
The varying costs per barrel in other nations is dependent upon the oil source & ease/difficulty of extraction (& also oil infrastructure to an extent--Altho this affects speculation & stock-futures more so); e.g., fracking costs MUCH more per same yield & is thus only profitable when oil prices are high.
theconversation.com/understanding-the-rollercoaster-ride-of-oil-prices-97848
As cars shift to being electric powered,the value of oil will fall. Electric cars + fusion-nuke power plants = stability and low cost energy.
I'm Venezuelan, living in Venezuela, we have been struggling with the Craziest situations you could imagine, and of course the crisis has beaten us a few times, but we stand up again, we don't want to leave, because it's our country!! Better they leave (the narco-socialist ruling the dictatorship), and now we see a light at the end of the tunel. Fortunatelly we haven't lost weight because of poor nutrition, but that's because we had been working for 9 years in a Multi-leven company, our own business, and we managed it to earn money in foreign currency, if the situation was another, we would be in serious problems, anyways we are not growing at the rate we used to, or the rate we would like to, and if things don't change in the next 6 months, we should find another country, we have a 3 months old baby and we don't want to rise him here, he doesn't deserve this distopic / mad max -like, reality, or, living in a bubble, that would hurt him in the future. Thanks for making this video!
What about the US embargo and sanctions as a reason for Venezuela economic problem?
@@sarchisi They are not the cause of the problem, these sanctions started as personal targeted embargo to Chavista loyal leftists leaders who are anti-capitalist but had million or dollars in American banks and real state in NY and Miami, also luxury car collections and yatchs (Oh, socialism), then, since 2018 some other sanctions have been issued to pressure Maduro's regime, but the hyper inflation is a problem since 2 years ago, the main problem is rampant corruption and pure ignorance, they pick as ministers people who are loyal to them, but have no idea about the branch they are in charge (any militar guy, is the boss of electricity state company, oil company, transportation authority etc)... Remember the scandal of Odebretch? This was a 800 million $ distributed by this company (bribes) between many political actors in over 8 countries in LatAm... Well, just in Venezuela, Chavez friend and treasury man, Alejandro Andrade, received received 1.2 Billion dollars as bribes, and then, retired in Miami in the so-hated enemy land (AKA the US), but thanks to all the investigations, sanctions and pressure he is in jail since... A few weeks ago. So we, the decent Venezuelan people are Happy to see them being cornered and paying all they have done to our country's wealth in the name of their revolutionary socialism.
Hey look it’s a cia operative
Feeling deeply enlightened by this channel! Thank you!
"The nicest person in the world can commit crime, IF that person had a kid." = Truth.
Love this channel... Always bring unique perspectives to the table... Great way to learn... Really wish school was like this...
Entrepreneurs Bible... Better than school... 🤑
Haiti is not a socialist country but they are next... What can you do? Make that money online...
Still chocked that Venezuela is number 1 in the world...
@@gianfc2001 bigger in size or in population... He meant population...
@@gianfc2001 also I'm Canadian and no Canada is not a socialist country..
It's a capitalist country... Name me one socialist country that has been successful? It seems most if not all end in suffering for the people...
I was reading china's history yesterday... 70Millions people die before the embrace a capitalist structure... Look at China now..
Great Info , good narration and most of all NO IRRITATING BACKGROUND MUSIC !!
better warn south america to whats coming. Somthing biblical. click my name to watch Son of Perdition part 4
Agreed. Very well explained.
No, its full of strategic omissions and lies.
He is a warmongering propagandist.
@@@nilesbutler8638 What arguments lies, spesifically?
@@ariandsoon429
You can begin with the fact that he made a 25min video about the venzuelan crisis without even ONCE mentioning the dramatic free-trade restriction, economic war the US is waging on this third-world-country.
Lying by omission of central information.
He would make a video about cars withou mentioning wheels.
I'm Venezuelan. Loved the way you exposed the situation. Keep on. 💪
I LOVE YOU...LOVE YOUR WISDOM...YOUR DRIVE, YOUR HEART, YOUR WORK!!!!!
Thanks Patrick for put Venezuela on the radar
I don’t think this could have been explained any better! Fantastic and informative!
Do you think that Bernie Sanders would understand any of it? He would probably catch fire and feel the burn.
AWESOME video, thank you so much for making and sharing this. 😀
Wow. Fantastic present! Wow, you are one of a kind. I wish more people thought like you.
An eagle needs a left and a right wing to fly, problem when go to the extremes of both right and left.
Jesus bless Venezuela
Jesus bless every nation.
Amen . 🙏🏻😇🙏🏻
Love from Indonesia 🇲🇨
If US-christians would start to follow their messiahs teachings
instead of helping the racist warmongering enemies of life and life and love, it would help.
.
But most cristians I hear, meet or watch in media seem to be doings satans work rather that following their own ten commandements.
@@nilesbutler8638 Most Americans dont believe anymore, thus the reason we're headed for rock bottom quick. I just prey it's not a nuke rocky bottom. Anything else I can deal with, but I'll walk into the blast if nukes are used.
@@philipmichel9273
Man, the Us ar are headed for rock bottom exactly because more and more americans believe idiotic shit with franatic fanatism.
.
The supremacy of law and reason right has been ripped apart in the last twenty years.
.
Fundamentalis preachers sow hate and work on abolishing the laizist, knowledge- and reason-based governement of the founding fathers.
Instead they and try to erect a faith-based theocracy, lie to children in school, take away every mans and womans right to do control what happens their own bodies.
.
Bible-literalism is the way into dark-age barbarism, and a whole lot of americans go that way clapping and singing.
More and more.
Instead of learning facts, writing laws according and holding every man accountable, the US is sliding into a very stupid, quasi-christian fundamentalism. (Quasi beacause most christians on this world think american evangelicalism is a sect. 99% of christians in history do not accept to the idea that jesus came to make us rich and is in league with the Republicans and the NRA)
.
It is frightening for everybody who does not agree to the religious superstition you seem to like.
@@nilesbutler8638 you are judging.. ye shall not judge.. be the solution not the problem
@@nilesbutler8638 idiotic shit ?? of that we are not beig lead to exactly what is happening in venezuela?
You make so much sense I just had to subscribe! Keep up the honest and great work.
It simply called " the resources paradox", that you become sloth because you overly rely on your readymade kind of resource and try not to diversify the economy.
we need to give terms to the senate here in the US some are in the house up to 20-40 years
And if they screw up multiple times there needs to be easier way to remove them than an election.
@@rebeccamiller3248 do it like jury duty! no more corrupt elections
forcedout1
As Mark Twain said: all politicians should serve only two terms the first in government the next in prison.
*_Actually bad times are important cause then we know the real importance of good times_* 😊
If you can actually learn the lesson from those bad times. Trouble is, we don't learn.
The problem is. 1 - We don´t learn. 2 - When countries get to this stage of socialism, there is hardly any way or means to get back to "good times".
Lyrics ASF that’s called learning the hard way where I come from
I've saw videos from you in the past. I've often found good arguments in them. But this videos is incredible, I'm Venezuelan and I am one of the people that had to leave. Your comments about how things changes when people can not give a better life to their kids are invaluable. The analogy of the friend that pays for everything was also on point. Great great inside. I guest that your experience as immigrant gives you a more clear perspective. Hope more people had watched the video. Thank you.
This guy really knows his stuff. I'm glad I discovered the channel.
Thought I knew the subject but he really teaches it so we can understand it. Thank you.
Thank you for the content you create I learned something today. Blessing on all your endeavors Sir.
Love your videos ! This has been great to help me teach my children ... THANK YOU!
Amazing the way you summarized and explained all of what happened in my country, thanks for this content Patrick!
I have family in Venezuela so know firsthand what's going on. The full story is that starting with Chaves almost 20 years ago executive, legislative, judicial and economic power was concentrated into one person. Chaves fostered support for his power grab by giving freely through social programs that they could not sustain. Venezuela is a dictatorship, not a socialist country.
Actions by the dictator caused sectors of the country to fall into a death spiral.
Now Venezuelans need to take their country back. No one can do this for them. Go Venezuela, do it!
No you my friend represent the 1 percent who want to steal power from the people....I know your game....
It is socialism, it was branded "21st century socialism" by Chavez (yes, with a "Z" at the end). Maduro (and Chavez when was alive) acts as a dictator because how he controls the judicial branch and the military; but he believes in socialism, his agenda is socialistic in nature and in philosophy -so again it is socialism -make no mistake.
The problems started MUCH further back than a mere 20 years!
The USA has been screwing around the South American nations for more than a century.
Wake up. It's bigger and meaner than many seem to think.
@@roylopez235 It has nothing to do with socialism. The problem is Venezuela's economy is damn near solely dependent on a natural resource, which is oil, and the price of that natural resource has collapsed. If Venezuela gets rid of all of it's socialist programs, it's still not going to change the price of oil, it's not going to change the hyper-inflation. Socialism didn't cause any of this. We have socialism in the US and we don't have these problems, even though we have other problems. Europe has more socialism than we do, and they do better than us in most metrics. Socialism isn't the problem.
@@HTHAMMACK1 you are correct sir (or ma'am)
Big ups. Ur videos are always quality. 🙌🏾
The problem with socialism is that eventually you run out of other people's money.
BTW, I believe that quote comes from the Queen of England,
PBD. Thanks a million for creating. This is another incredibly informative video. I love your channel sir.✊🏽
Wow, eyeopener. Pat not only do you have a message, you are an incredible speaker.
Paul Democritou true!
Check this out th-cam.com/video/O6EGefs9_mo/w-d-xo.html
Speaker? Ok, sort of but overbearing. Pat's views/message here are very simplistic, though. Your eyes must have been 3/4 shut if you think this video is an eye opener. There is a lot more going on in Venezuela than Pat is trying to forcefeed people. Free education: there is nothing wrong with this concept. It is actually one of basic human rights. Yes, it does exist and has existed for decades in mature well functioning democracies. Both of my parents received free education - both born in 1912. My father completed tertiary degree before WW2 began. Take that! The skies did not fall in. The reason that some democracies function well is high standard education available for all. People are less prone to have wool pulled over their eyes. They can actually think for themselves. True democracy is not possible in poorly educated nation. On the flipside, poorly educated nation is ripe picking for any government wanting easy control over people and ripe picking for gurus of all descriptions
@@teresaolszanka112 you know what's going to happen the USA is going to go in Venezuela and then Rothischild & Rockefeller oil groups are to suck up all your oil. Sad but true this has been going on since the 1940s. Rothschilds increase their net wealth by 20% every single year yet no one talks about this. They have $500 trillion in gold bars. Yes trillion. I can't belive Americans let the Rothschilds use their CIA, military and FED as they want. Once a person understands how the FED works and how mainstream media is controling people's perception they will be awake. Check out the link I provided.
@@teresaolszanka112 Define education?
After watching this video now
I want to buy a track suit
🤣🤣🤣🤣🤣🤣🤣
No kidding lol I feel you I also would add an Uzi I don't know why but I also feel an Uzi and a gold chain and mane some rings .
Get the Adidas
He comes in with so much gusto!, like he knows it all. halfway through you get surprised at how little he knows. He has so much confidence, but is so uninformed!.... the "fake it till you make it".
Thank you Patrick!! I learn so much from you. Love your videos!! ♡
Some of the best content on the internet. Congrats sir!
Where did you get all of your technical skills from school?
Me: No TH-cam to be exact
Pimpishone 😂I’ve gotten TH-cam doctoral degrees in a ton of subjects.
Such a well produced video! Thanks for sharing your thoughts and the stats!
I'm using this video in my classroom. Excellent!
I love the fact the he gets so emotional and hyper while explaining stuff
He's just passionate
Wow, very interesting! Had no idea. Thanks for explaining
Great video, I RARELY leave a comment, but this one is so well done, explains so much and why communist philosophy ruins the incentives to work hard and ultimately ruins a society. Yes, there are some costs of society that need to be shared among all but if you take it too far it can reduce incentives.
@Michael Murphy My view is that Socialism fails to the degree it is implemented. Eventually you have more takers than makers and society collapses. There are no successful 100% socialist countries, never have been, never will be.
Ernie Allsup
If you take capitalism too far, would happen same as too far socialism. Best system would be, if you mix socialism with capitalism, take good concepts from both and leave bed
Tim Countis
Why they didn’t pay taxes ?
@James Registe China is like Sweden. They claim to be socialist while being capitalist.
@James Registe There is no real difference between Socialism and Communism for subjects.
You warned us 4yrs ago, and it’s starting to happen… This is why I follow you.
Thank you, very important info.
Bless you
Patrick
this is not just one of the best
but definitely THE best so far
lesson in Economy
I have ever heard in my entire life
Just became a new subscriber. Love your message!
I wish I could force everyone I know to live in an impoverished country for a month, while learning about it's history and then after to watch many of your videos but especially this one bc I think it's not only very well done, but relatable. bravo
Extraordinary explanation man!!!
I am from Perú, and I know what hyperinflation means, we lived during second half of 80's.
Continue with this kind of videos.
Salutes.
Subbed, finally someone who makes some dam sense when explaining shit, thank you sir.
This guy is not telling you the truth. He's just pushing more bullshit propaganda. He just ripped on socialism and yet said Amazon getting billions of tax $$$ for free is just fine. Also, he doesn't even mention the US (and therefore worldwide) sanctions. This guy is a massive corporatism dick
@@leopheard Amazon didn't get tax $$$ they got tax BREAKS, and every city will do that. if your city says no (like NY did) another city will have already made the same or better offer. you're so ignorant it's painful. sanctions are nothing more than a country being unwilling to trade with another country- VZ still had access to other countries for trade but it didn't matter because their currency is worthless and nobody wants it. THIS GUY is right about everything and you're a lazy bum. go live where you belong, in VZ.
@@kevc3148 Your entire argument is based off childish insults, assumptions and just plain wrong information.
Amazon and corporations like that not only pay zero tax but also do get FREE FUCKING MONEY in the form of grants, subsidies, incentives, etc. and they're no secret, it's all out there if you care to look. Amazon have had a total of $2.4 bn since 2015 from various states as well as paying zero federal income tax. No tax and free money are two separate things. Look here: subsidytracker.goodjobsfirst.org/prog.php?parent=amazoncom
Also, what part of capitalism is "give us free money or we'll have to cut jobs"? What part of capitalism is about free money anways? We're a lot closer to those socialist countries than you think. We've printed literally trillions of USD since 2008 to bailout the banks and we should have let them fail. It's starting to happen again and idiots like you will still be defending it.
Also, you're wrong on sanctions too which is no surprise. We're not just refusing to trade with them, but we and other countries are also doing the same and if they do, we then cause them issues. Also, VZ had lots of money tied up in the Citgo gas station, which is VZ owned but they can't put that money back into their economy because of our sanctions. You clearly don't know how sanctions work.
And what a childish argument. "If you don't like our version of capitalism then go live there" or "if you don't agree with someone then you have to leave our country". What a prick. I've been working since I was 15 years old and am certainly not lazy, I just have a problem with our current economic system as it's totally fucked up. There are other systems than capitalism or socialism you know, but the US media is so good at indoctrinating people like you, you don't have the ability to ask questions. e.g. I was watching CNN the other day - you know the supposedly left AF network - and even they were saying "well Amazon cash grants aren't great but they are needed for jobs etc" the exact angle Fox News were saying. This is the problem, you have no counter opinion in the USA and other western countries. The entire spectrum has shifted to the right so much so that you can't see outside of your little box. Now do fuck off you stupid little boy
leopheard great great GREAT rebuttal my friend everything you have said is totally true and I completely agree with you. Proud to know we still have smart americans within our nation
@@MrDeadman854 Go fuck yourself
Venezuela is real-life example of atlas shrugged's societal collapse,
You can ignore reality but you cannot ignore the consequences of reality.
Good call, Atlas Shrugged is it and that's what they want to do here in the United States.
Venezuela is what happens when the United States wants to take control over your resources Venezuela was fine before the price of oil collapse
@Mike F people hate Atlas shrugged because it was stupid book
@Mike F that has never happened Banks get rich off of other people's money Apple computer get rich off of government inventions industrialist make money off of workers labor. And Atlas shrug it's a stupid book by horrible writer
@@idontseeit1 you hate it because you have not seen ugliness of govt intervention , you don't live in a socialist country where you are asked to sacrifice your happiness everyday and Govt controls everything and everybody is poor.
I’m just loving these informative videos. 👍👍👍
Congratulations Patric! You are amazing, very informative and interesting to listen! Bravo!
Hey man great video and fairly nuanced analysis. You're like a college professor without the stuffy trappings of academia. Keep it up!
Hey Patrick.. What about Venezuela dropping the dollar in oil sales few months back? The dollar being used for oil transactions is the only reason why the US can maintain its huge deficit spending while being the most indebted nation in history and keep ramping up its empire. They've put some heavy sanctions on Venezuela and now they are preparing an invasion. Why is the US concerned all of the sudden about well being of Venezuelans? Why don't they say anything about Yemen, Haiti or even France that is in the midst of a political crisis as well? Coincidence.? I wouldn't say so.
I'm all pro free market and business but hey, lets be realistic over here.
Alex Uzunovic I think Patric answers those questions. The pretty gal with 300bill barriles, the ‘who’s next?’ at the end, the story of BP. It is how it is, and the regimen performs poorly in preventing those international incentives
Alex I agree with you. Why did all these countries freeze Venezuela's assets and wont release them. They did the same thing to Gaddafi when he wanted to leave the us money system. That country was thriving until they sent in people to destabilize the country and then they killed him.
I am for Venezuela, I encourage you to read about things like CADIVI, FONDEN, SITME, SICAD....., they invented so many things to steal thousands of millions of dollars, read a little bit. There are not justice at all in the country. There are more violent deaths in Venezuela than Afghanistan and Iraq combined.
Some people said, why your people didn't fight, I can tell we fought and we loose. See how many students and friends were dead in the last 5 years, during riots.
My best wishes for anyone that want socialism.
Moises Figueroa
Hey Alex, i am from Venezuela and came from the good old days. Its not that U.S is concerned all of the sudden. They have always had some concern but things changed drastically after Chavez died. Things were already going bad behind the scenes but when he died, all his followers fought for different positions in power. I know Yemen and other countries are suffering. This is of big interest because of the proximity to other countries and specially with how we should be doing better with our resources. Diosdado Cabello is also in charge of the cartel the soles. Its a lot of bad stuff in magnitude without even mentioning the thousands of political opposition leaders in jail, the starvation, lack of medicines and all the murders and kidnaps (Which i happen to be a victim of one) We don't really care what country helps us. We just want freedom and we are still trying to do it ourselves.
Look up Tareck el Aissami and the links that Venezuela has to Hezbollah. Look up the relationship that venezuela has with russia and china. If you know anything about geopolitical maneuvering you would understand that it's not just the petro dollar bullshit people keep parroting. There's a lot more at stake here
Omg...I’m subscribing to your channel...you explain this so well...
I am Venezuelan, even do you are not Venezuelan you explain so well what is happening to my country. Great video
The simplification of complexity is a dangerous message to wider audience
Of course. It's much better to muddy the water and beat around the bush. Keep the masses confused and easier to dominate and manipulate. Is this what you think is better?
Amazing 😊 thanks for the inspiring video
This video should be shared, it should be viewed by billions... so sad, very underatted channel, please support this channel, very informative videos.....