From the depths of the revolution’s stupidity

August 5, 2009

(Este post en español aquí)

EXXON-VENEZUELA/

A couple of months ago, the Government nationalized all of the companies that serviced PDVSA, including boats that move people and machinery around. The reason was that PDVSA’s debt with these companies had soared and by taking them over the problem of the debt or paying the owners is postponed for a while, The whole thing is now a mess as the Government took over leased equipment that does not even belong to the companies that were nationalized. This creates huge liabilities, but now PDVSA is beginning to use the novel argument that expropriation requires indemnization, but nationalization does not. Yeah, let’s test that at the World Bank’s Courts!

In any case, as a sequel to the nationalization of these service companies, the Venezuelan National Guard, at the service of the “people”, needed some replacement motors for some of the boats and simply went to YanMarine in San Francisco and without any Court order or any form of documentation took all of the motors that this company imported and had for sale and in its inventory, whether gasoline or diesel.

I just wonder when I hear this: And once these motors stop working, where in Venezuela do they plan or expect to find any replacements to steal?

And then what?

Advertisements

7 Responses to “From the depths of the revolution’s stupidity”

  1. Karateka Says:

    There is a law of “unintended consequences” and it seems to consistently trip up government programs. While it seems Chavez and his supporters have stooped to outright stealing, less direct methods are also filled with bad results.

    One of these in the United States was the Great Depression. A downturn that would have lasted 3-4 years was extended to 12 years on an employment level, and the stocks never did recover until after WWII. I’ve been thinking about the depression recently as we are in similar times, and similarly stupid things are being done and proposed.

  2. Frame Says:

    Moving ahead still. The ups and downs of a revolution.


  3. […] Desde lo más profundo de la revolución de la estupidez Agosto 7, 2009 (This post in English here) […]

  4. Kepler Says:

    Carajo, qué foto tan buena, Miguel!

  5. Floyd Says:

    “and then what?” is a question nobody is supposed to ask in Utopia while wondering why there is no bread and why there are long long lines for basic goods and seeing the news reporter on a dock hyperventilating when a shipload of sugar pulls in.

  6. moctavio Says:

    No wonder I could not find the website:

    http://www.yanmarine.com/

  7. EG Says:

    FYI. It should be Yanmarine not Jhan Marine.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: