Nationalizing means profits stay in there country and cheaper cost of service for them Have you ever heard about something called Eastern Europe, USSR etc.? If you have, with just bit of common sense, you should know what "nationalization" really means. Other words, Venezuelans fucked themselves over in a long run. When all is said and done, Venezuela is financial and economic wreck.
Come on rocket scientist explain it. So smart people come on a computer and ask how to short an index for profit after it dropped a lot from the news? Do you take your financial advice that way? Are the Venezuelan people major stock holders in the markets haha or are most very poor? Do you really believe Venezuela will be sanctioned for there action since they have not sanctioned Iran for there development of nuclear weapons. Do you think Bush is an international genus? Nationalization Definition Takeover of a private company's assets or operations by a government. The company may or may not be compensated for the loss of assets. In developing nations, an operation is typically nationalized if the government feels the company is exploiting the host country and exporting too high a proportion of the profits. By nationalizing the firm, the government hopes to keep profits at home. What I said Nationalizing means profits stay in there country and cheaper cost of service for them What did I say wrong in explaining it?
What has Chavez done to affect your life seriously? Pretend you have your own brain. He pretty much takes from the rich and discounts things to the poor. I am not looking to debate if itâs right or wrong but thatâs accentually what he does. Youâre worried because Exxon will make a little less when working with Venezuela or something. It seems like a smart move to me taxing and hurting them on royalties if I am from Venezuela. I guessing your worried about communist well stop focusing on the few million crazy Latinâs Colombo and look at the billion plus china men who fix there currency or the North Koreans with no food and nuclear capability or the Russians for that matter who have outrageous oil reverses and seem to love nationalizing it. They all have one big thing in common nuclear weapons. You see itâs easiest to pick on the guy with no nuclear weapons maybe thatâs why Iran wants nuclear weapons too.
p.s. I'm really sorry I tried to share a piece of world news that is an interesting subject...I didn't know it would lure a bunch of wild kids out of their holes to make idiotic comments and flame each other.
Chavez is the very unfortunate side effect of years of corrupt governments getting in bed with even more corrupt multi-nationals to exploit people that have no other choice. The same multi-nationals that will spout the free market rethoric while lobying for billions in Washington.
Ai'nt democracy great! Chavez voted in by over 60% landslides twice. Now that is what I call a mandate.
Try opening a real trading account first. You call venezualan people stupid because they excercised their rights? What a f'n retard. Let me guess who you voted for, and you call others stupid. ROTFLMAO!
It most likely will be real bad for Venezuelans in the longer run but if Chavez has to sell his oil cheap to keep his regime going, and that is all that matters to communists once they are in power, then the oil buying world benefits. I kind of personally like communists, they are fun to watch
Regarding Nationalising. Well, it has been argued on this thread that Nationalizing reduces costs to the people, and also that it raises costs to the people. Well both arguments are correct, however they are also at different moments in time. Lets say the electric company that´s serving Caracas gets taken over by the gov today. As soon as that happens they´ll be able to charge very low tariffs since now they became non profit, they dont have to pay investors anymore, and everyone is happy. In a few years the unions working that company start to realize little ways in which they can make an extra buck or two... and so it begins... little by little, all the money that would´ve gone to the investors {and much more} starts going to the employees, and so the tariffs go up. Since these guys don´t really care for the cow, they´re going to milk it to the bone, and in the process they are going to push the prices as high as consumers are willing to pay in large enough numbers {a usual monopoly} so they end up charging inflated tariffs to the people who supposedly own the company... only to be able to suck a little more money.