The socialist paradise of Venezuela continues to rot away. With a combination of socialism, government intervention, price controls and inept leaders, the South American country is facing food riots, and they could start happening daily (unless government uses the tool of force).
As the video below shows, many people are facing destitute that they have resorted to rioting for basic food and household supplies. It’s rather sad. This is what happens when governments meddle into the forces of the market.
Remember, prices are very important in the marketplace, and when government attempts to control prices (as well as interest rates) then you have instances like these.
Will the situation below take place in the United States? Perhaps or perhaps not. We have already seen the effects of President Richard Nixon’s price controls during the 1970s. There were long lineups for gasoline.
If you want real life instances of socialism and its deplorable effects then you look to videos like the one below.
Looking at the gender distribution and age of this crowd leads me to wonder if this mayhem is due to disgruntled family shoppers or to some other factor.