As Venezuela continues to fall down the disastrous rabbit hole of socialism, the government has now seized the General Motors plant in the country.
What happened? CNN reported that GM was forced to halt operations in the socialist country after the government, without warning, seized their assets.
GM described the inevitable socialist takeover as an “illegal judicial seizure of its assets.” They further noted that there was a “total disregard” for their legal rights.
That’s kind of a “no duh” moment, isn’t it, given that you’re operating in a socialist hellhole… What happened was just the inevitable.
CNN reported: “It said that authorities had removed assets including cars from company facilities.”
“[GM] strongly rejects the arbitrary measures taken by the authorities and will vigorously take all legal actions, within and outside of Venezuela, to defend its rights,” GM said in a statement.
The inevitable failure of socialism. Jazz Shaw over at Hot Air provided an excellent breakdown of how socialism goes:
Originally, the government tolerates the presence of foreign manufacturing entities such as General Motors to fill needs they have which can’t be handled domestically. (GM has been there for roughly seven decades.) It’s not that the Venezuelan people are incapable of innovation or creation… there’s simply no motivation for them to strive for success. Anything they create simply becomes the property of the state anyway, so the hard working, innovative person doesn’t realize much more success than the guy who can barely keep his eyes open to show up for his job sweeping the sidewalk. There’s no point to being particularly innovative.
So companies such as GM are allowed to go to work. But once the system inevitably begins to implode, the tyrant in charge begins looking for new resources to grab. In the name of the socialist concept wherein everything “belongs to the people” he seizes the GM plant. They take the cars which are there to hand out to high ranking party officials and divide up the assets while demanding that the workers get back to producing automobiles. This is, of course, impossible because they don’t have the parts to do it and the people who actually know how to run things are fleeing.
These are the fruits of socialism. It’s a humanitarian disaster to be sure, but it’s also a teachable moment. Watch and learn.
What this means. Well, unfortunately probably not a whole lot for those that actually think socialism is a good idea. Many of Sen. Bernie Sanders’ supporters, for example, will likely be undeterred by this real life example of what socialism is because real life means little to them.
They live in a fantasy land in which they believe that the world constantly owes them something and that everything should be “free.”
It would be nice if some people were swayed by reality, and maybe some will be. But the truth is that for many, if reality meant anything to them, they wouldn’t have bought into the dangerous farce known as socialism in the first place.