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Huge minimum wage increase in Venezuela forces businesses to fire employees or shut down

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Huge minimum wage increase in Venezuela forces businesses to fire employees or shut down

Socialism rears its ugly head once again in the failed nation of Venezuela. As the country’s leaders attempt to slow their free fall to oblivion, businesses and their employees are being forced to make tough decisions.

The 3000% increase in minimum wage, announced last month by President Nicolas Maduro, went into effect this week. As a result, the economic woes for the citizens of the nation have spiked once again.

Venezuela Raises Minimum Wage 3,000% and Lots of Workers Get Fired

https://www.bloomberg.com/news/articles/2018-09-14/after-getting-3-000-wage-hike-workers-are-fired-in-venezuelaStarting this week, 7 million employees are guaranteed 1,800 bolivars a month — worth about $20 at the black-market rate. President Nicolas Maduro intended the mandate as political boost, but it’s having the opposite effect as companies, already hit by Venezuela’s epic economic contraction, tell workers they can’t afford to keep them.

While there have been many similar moves in the past, never has one been so disruptive, arriving amid hyperinflation, depression and devaluation. Some employers are restructuring costs, rejiggering pay scales and negotiating settlements with workers. Others are simply dismissing people. Much of the action happens secretively as companies try to avoid punishment by the government, which has been jailing those it believes are flouting the rules.

My Take

The failures of socialism are an easy target. If you’re reading this, chances are strong you already recognize how disastrous socialism is for any economy, even one access to more oil than any other.

Not even America could withstand the detrimental effects for long.

In lieu of attacking the easy target, it’s time we start looking for solutions. Venezuela must throw in the towel. They’re way beyond the need for aid and they can’t pay back loans. At this point, someone needs to step in and take over. This is, of course, unlikely as the socialist regime has no intentions of ever relinquishing power. They’ll allow their people to starve on the streets before they give up power.

Is a coup the only solution? Is it even possible without outside help? Where would outside help come from if it did? Can the United Nations do anything? How about the United States, China, Russia, or the EU? All have problems of their own and while the oil is an interesting enticement, nobody would risk making a deal in a country with such disarray.

Perhaps the only solution is to wait for the suffering of the people to become so pronounced they have no choice but to organize and take their country back by force. Unfortunately, this is not the type of event that is likely to yield positive results. What could they do if they were somehow able to win?

Democrats

PragerU: What’s wrong with government-run healthcare?

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PragerU Whats wrong with government-run healthcare

This latest video from PragerU details how another vote-buying pipe dream from the Left can never work.

A new video from PragerU features policy expert Lanhee Chen from the Hoover Institution at Stanford, who explains how ‘Free Healthcare’ can never work in the real world. As is the case with most Leftist vote-buying schemes, the ‘The Medicare for all’ fiction is long on promises and short on how it will be funded. The tax burden for such a scheme would destroy the economy and would have to be levied on almost everyone. This kind of national socialized healthcare would also take away the incentive for innovation, which has made for the best healthcare system in the states and the rest of the world.

One often suspects that these assurances of freebies are never meant to operate as promised. Witness the much vaunted Obamacare that was supposed to eliminate the uninsured, but did nothing of the sort. Such is also the case with their push for Liberty control, since it never works as advertised.  In most cases, it should be apparent that the Left doesn’t care if their schemes will work or not. If they did actually care, they would try something else, something that actually works.

For the Left, their ‘Ends justifies the means’ mantra extends to most of their agenda. It doesn’t matter if their system of societal slavery works or not, only that it brings them the power they crave.

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Economy

Wayne Dupree on cutting entitlement programs

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Wayne Dupree on cutting entitlement programs

When the truth goes against the narrative, it’s hard for many to swallow. Entitlement reform, which has been on the Republican platform for decades, has been in the perpetual state of always getting promised but never getting delivered. The reason it keeps getting kicked down the road is because it’s simply too hard to take away things that millions have gotten used to receiving.

At least President Trump was honest enough to say from the beginning that he wasn’t touching entitlements.

What Democrats don’t want you to know and what Republicans only want you to remember on election day is that entitlements are crippling the economy. We can no longer say they’re going to hurt our children and grandchildren. It’s now to the point that we can’t make fiscal decisions as a country without considering the huge chunk that encompasses entitlements.

Conservative Radio Host Wayne Dupree has been fighting this battle for a while. He rightly contends that the pain we’d feel today if entitlements were cut is small compared to the pain we’ll feel in the near future and beyond if they’re not cut.

Yes, it’s hard to make cuts to something that supports millions of Americans, but there are ways to reform the system and still protect the most vulnerable. Kudos to Wayne Dupree for fighting this unpopular battle.

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Economy

Trump’s best fiscal move yet: Telling his cabinet to shave 5% off their budgets

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Trumps best fiscal move yet Telling his cabinet to shave 5 off their budgets

I’ve been harsh towards the President when it comes to budgets and deficits. At times he has seemed more like President Obama, albeit reluctantly, with outrageous budgets signed and deficits that would make Democrats blush. His latest move is one that I can support wholeheartedly.

He just told his cabinet to shave off 5% from their 2020 budgets.

Trump asked members of his cabinet to figure out how to cut 5 percent of their budgets

https://www.theblaze.com/news/2018/10/17/trump-asked-members-of-his-cabinet-to-figure-out-how-to-cut-5-percent-of-their-budgetsI’m going to be ask each of you to come back with a 5 percent budget cut from your various departments, whether it’s a secretary or administrator, whatever. I’m going to ask everybody to come back with a 5 percent cut for our next meeting. I think you’ll all be able to do it. There may be a special exemption, perhaps. I don’t know who that exemption would be. If you can do more than five, some of you will say ‘hey, I can do much more than 5.’

Most conservatives would point to last year’s tax cuts as his best fiscal move, but it was really an action by Congress. The White House gave input and helped sell it to the people, of course, but it wasn’t really a “move” made by Trump. We’ll give him some credit for it, but most of the heavy lifting was done on Capitol Hill.

Telling his cabinet to cut 5% across the board is a Presidential move and by far his best fiscal decision to date. The key to this will be follow-up; if he doesn’t hold his team accountable, then it was simply a soundbite. If he holds their feet to the fire and dishes out repercussions to those who don’t comply, then this will represent a seismic shift in the way the White House operates.

It’s a business move made by a businessman who has had to make this move many times in the past. He brought several things to the table shifting from the boardroom to the Oval Office. Second only to his deal-making skills are his skills in operating a sound financial operation. This is indicative of his experience.

To be fair, this is more of a campaign move than an expression of conservative fiscal values, but we’ll take it no matter what motivated the move. 2020, the target for these cuts, is his reelection year. Hitting the stump and talking about how he forced every agency and department to cut their budgets by 5% will go a long way towards wooing conservatives.

One of the biggest reasons Americans put Donald Trump in the White House is because of his business acumen. This move exemplifies why millions trusted him to sit in the Oval Office. With budgets where they are, DC must cut, cut, and cut some more.

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