Venezuela Plunges Into Darkness As President Maduro Lays Out Socialist Vision On National TV

Tyler Durden's picture

A mere two months after the last widespread blackout to hit Venezuela, major parts of the nation are once again dark tonight as a power outage hit during President Maduro's evening address laying out his new economic philosophy (the inverse of Bernanke's):

  • *MADURO SAYS VENEZUELANS MUST SAVE MORE, CONSUME LESS

The blackoutt has affected some of the nation's oil refineries (even though they are often powered by separate generator plants). Maduro himself said this evening's blackout cause was "strange," hinting at "sabotage" and not caused by excess demand (since the same substation that was sabotaged in September has failed). Perhaps it is time to spend what little discretionary reserves the nation has left on infrastructure instead of Samsung trinkets and military bonuses to keep the people at bay.

 

Blackouts reported in at least 11 Venezuelan states, state television reports (via Bloomberg).

• Western Venezuela, including states w/refineries Zulia, Falcon, Carabobo worst affected, says state TV
• PDVSA spokesman couldn’t be reached for comment
Blackout caused by failure in same substation which plunged 60% of Venezuela into darkness for several hours Sept. 3, Electricity Minister Chacon says on state TV
Sept. blackout caused by sabotage: Chacon
At least 4 of Caracas’ 5 boroughs left without power
• Caracas power to be restored in one hour: Chacon
President Maduro ends televised national address in presidential palace during blackout, says blackout cause was “strange”
• Power cut not caused by excessive demand: Chacon

The end result:

 

Before and After...

 

 

 

Some color on his new vision for the country which was being presented on national TV just before the blackout struk. Via Bloomberg:

Venezuela President Nicolas Maduro, speaking in national address on television and radio, says decree will be ready “within 24 hours.”

 

* Individuals will be able to open FX accounts in euros or dollars in state banks to import cars: Maduro
* Law decree will lower prices for used, new cars: Maduro
* Govt will set prices for new cars: Maduro
* Manufacturers must inform of weekly car production: Maduro
* Prices for used cars can’t exceed prices for new cars: Maduro
* Venezuelans must save more, consume less: Maduro
* Venezuela economy needs fair prices, reasonable profit margins: Maduro

 

 

 

 

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22CF45's picture

This will not end well...

kridkrid's picture

It's not going to end well anywhere. And the thing is, he's likely right. People should save more and consume less... But not by the barrel of a gun. Rhetoric is always the cover used to control the masses to benefit the few... Doesn't much matter if the rhetoric is socialism or communism or capitalism.

stacking12321's picture

 

Maduro himself said this evening's blackout cause was "strange," jinting at "sabotage"

jinting?

is that like jintao? as in hu jintao? as in hu dunnit?

why are the chinese always the fall guy?

GetZeeGold's picture

 

 

Ain't socialism grande?

markmotive's picture

Venezuala is a side-show compared to the apocalypse unfolding in the Ukraine.

http://www.planbeconomics.com/2013/12/apocalyptic-clashes-between-ukrain...

Four chan's picture

that was a nice battle, im taking notes for when it happens here. fire and caustic gasses seem to be a winner against the state.

kralizec's picture

Anything incendiary will do.

Leopold B. Scotch's picture

If only progressives had more power in Venezuela.

Perhaps Paul Krugman can write a piece about how Venezuela is failing because it does not print more sufficient amounts of money to spend its way to prosperity, like he keeps saying we need to do more of in the United States.

Agent P's picture

Love the dude in the knight helmet! 

Golden_Rule's picture

Good to see it in its true form.  Probably not for the Venezuelans though...

stacking12321's picture

wtf tyler?

you're not allowed to change the article after i've posted and made fun of your spelling error!

 

fxrxexexdxoxmx's picture

Funny looking eyes and small things which apparently has no impact on reproduction.

hedgeless_horseman's picture

 

 

...not by the barrel of a gun

What barrel?  What gun?

 

Trijicon or MeproLight tritium night sights, get 'em while you can afford 'em and find 'em. 

Also, to identify targets or friendlies, get a good weapon-mounted light on your long guns, and a tactical flashlight like a Surefire for your support hand to use with your sidearm.

Practice night shooting, and if you can find and afford one, take a nighttime force-on-force course.

DaddyO's picture

And you don't want to be in the city when the flag goes up.

This is a great place to get night vision stuff.

http://www.jrhenterprises.com/Night-Vision-and-Thermal_c3.htm

I think the owner has a sale going on right now...

DaddyO

zhandax's picture

"This is a great place to get night vision stuff."

Reminds me of the Cajun who called off the war because they couldn't afford to feed the US army as prisoners.

wisehiney's picture

That site is nothing but one big wish list! Thanks.

seek's picture

Don't buy anything less than Gen 3. Trust me. If you can only afford Gen 2, keep saving.

PLira's picture

$100 less than regular sale with goodies and a infared imager for free was on black fri. Just can't pull the trigger myself.

kralizec's picture

Saving for FLIR, FLIR rocks!

wisehiney's picture

Done. Nice stocking stuffer for me and CZ 75. Thanks.

August's picture

**Practice night shooting, and if you can find and afford one, take a nighttime force-on-force course.**

Quoted for truth.

I'm not much of a shooter, but taking a low-light firearms course was, to say the least, eye-opening.

Freddie's picture

Are there any decent lower light and lower cost ACOGs or scopes?

Agent P's picture

Mixed feelings about night sights for pistols.  If it's too dark (like your photo), I can't see/identify the target, and if there's going to be an engagement in that environment, it's likely to be at distances where sights are irrelevant.  On the other hand, in environments where I can see/identify the target, there should be enough ambient light to get a decent sight picture with standard contrast sights.

That being said, replacing the standard bead with a Meprolight Tru-Dot bead on my 590a1 was the 2nd best $35 (Amazon) upgrade I've made to any gun...closely behind the $35 Streamlight PolyTac LED mounted on it (mount not included), and the one on my AR, and the one in my car, and the one on my nightstand, and the one in my downstairs pistol box...there is no better flashlight for the money, IMO...they make excellent stocking stuffers!

Chuck Walla's picture

Sabotage? But have they burned der Reichstag yet? Then they can go after the "saboteurs".

FORWARD SOVIET!
.Sehr gut!

fxrxexexdxoxmx's picture

They have free health care so what is the problem?

max2205's picture

Save more? Not on track with Ben....there's the problem

Oldwood's picture

Save what? Every dollar earned was already spent years ago through national deficit spending. "They fuck you in the drive through". They know you are going to be miles down the road before you realize you're fucked.

https://www.youtube.com/watch?v=um30Lbu6-nc

 

 

Stuck on Zero's picture

Save?  In the local currency what would a Bolivar be worth in ten years at fifty percent inflation?  Answer: a milliBolivar.

 

Non Passaran's picture

A Nano-GoldGram?
A Pico-Satoshi?

Possible Impact's picture

Will they be saving gold and silver?

I think Maduro meant "Investing", and the Banksters have a "real nice" plan for them.

 

AustrianJim's picture

They just need to go full-on communist, and they'll be fine.

chump666's picture

Did you here about the commie who tried to change a light bulb? 

stacking12321's picture

it takes a village + 1

one person to hold the light bulb, and the rest of the people to  rotate the house around him so the light bulb goes in.

 

Non Passaran's picture

See, that's a proof that you need a government. Without that visiting government official the village wouldn't be able to change the bulb. Or, save electric power as the case may be in Venezuela.

LookingGoodBillyRay's picture

It takes +0

but two to paint it yellow and convince everyone else it still works.

Yen Cross's picture

  Hey C666 did you just catch that reversal in aud/usd. As if I didn't see the 4 HOUR CHART? You douche bag cocka'roach basement hedge fund clowns! Your asses are toast!

chump666's picture

Nope.  But watching the USD not budging is amusing.   The AUD is sell on China GDP and Aust yields.  Could be a juicy short on the AUD coming up

Yen Cross's picture

@ chump666  BTFD in aud . It's still 2.5% carry. 

chump666's picture

noted.

No one is buying the USD cept the Fed on the 80, my financial conspiracy theory, as they know it's a c-hair away from a freefall.  Similar to the EUR protected by the ECB at 1.30.

AUD looks oversold, should, maybe rally to the 5day on a daily.  All markets could be capped sideways till 2014...unless, yes, war breaks out.  That's the hedge from hell.

 

QQQBall's picture

save more with inflation out of control. Once again - THE GOVT IS NOT YOUR FREIND. 

OneTinSoldier66's picture

I agree. But, I have a questions I just want to throw out as food for thought or what have you. I'm thinking... for those more knowledgeable, wiser, and more experienced than me.

 

If people start saving rather than consumerist spending, what happens to the Velocity of Money? Does the Velocity of Money have meaning? Does MV have any meaning to GreenBenYellin?

 

Just questions. What happens if MV = 0? Not that I think it would really go there, unless the concept of money is abandoned and there is a return to barter only. Which I don't think will happen either. But what do you think would happen to prices? Do you think prices could remain high with little movement of money in the economy? Or do you think that prices would come down in a significant way in order to try and make a sale? Or do you think, "Only The Shadow Knows".

 

May you live in interesting times.

OneTinSoldier66's picture

Good one Possible Impact.

 

In a Gov't controlled command economy, who knows anyway.

Opinionated Ass's picture

Velocity of money is a monetarist propaganda term. Test: what is the velocity of money in your personal portfolio? See how stupid the concept is? Another test: Austrian economics doesn't use the concept. Hope that helps.

OneTinSoldier66's picture

Thank you Opinionated Ass. Makes sense.

Serenity Now's picture

I don't know how to discuss MV.  It doesn't have any meaning to me, and I don't recall studying it in economics (Austrian school of thought).  

However, if people save vs. spend, then demand goes down, and (all else being equal) price goes down.

OneTinSoldier66's picture

TY Serenity.

 

From my post above, it made the most sense to me when I was forming the questions in my head that:

 

"...prices would come down in a significant way in order to try and make a sale"

 

Cheers