The collapse of Venezuela, explained

Thursday, December 7, 2017

The country is in chaos, but its leaders aren’t going anywhere.

Correction at 1:58: It’s been brought to our notice that the Supreme Court tried to strip the country’s National Assembly of its powers in March 2017 and not 2016. We regret the error.

For more on the Supreme Court ruling: https://www.vox.com/world/2017/5/1/15408828/venezuela-protests-maduro-parliament-supreme-court-crisis

Sources:

0:56 https://tradingeconomics.com/venezuela/inflation-cpi , https://tradingeconomics.com/venezuela/consumer-price-index-cpi , http://www.imf.org/external/datamapper/PPPPC@WEO/OEMDC/ADVEC/WEOWORLD/VEN?year=2017 , https://en.wikipedia.org/wiki/Crime_in_Venezuela#/media/File:1998_to_2013_Venezuela_Murder_Rate.png

https://www.reuters.com/article/us-venezuela-economy-forex-idUSKBN1AP2LM

1:25 https://www.scribd.com/document/354981596/Datanalisis-Informe-Omnibus-Julio-2017-ODH-Consultores#from_embed (Page 22)

http://www.datanalisis.com/

1:54 https://www.wsj.com/articles/maduro-s-allies-stack-venezuelas-supreme-court-1450912005

3:27 https://www.eia.gov/todayinenergy/detail.php?id=24432

3:44 https://commons.wikimedia.org/wiki/File:Venezuela_Poverty_Rate_1997_to_2013.png

4:00 https://www.economist.com/news/finance-and-economics/21720289-over-past-year-74-venezuelans-lost-average-87kg-weight-how

4:40 https://www.cato.org/research/troubled-currencies?tab=venezuela

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The collapse of Venezuela and President Maduro’s rise to dictatorship.
Venezuela was once the richest country in Latin America.
It has the largest known oil reserves in the world. And its democratic government was once praised world wide.
But today, Venezuela’s democratic institutions and its economy are in shambles.
The country has the highest inflation in the world, making food and medicine inaccessible to most Venezuelans.
Over the last four years, its GDP has fallen 35%, which is a sharper drop than the one seen during the Great Depression in the US.
The country’s murder rate has surpassed that of the most dangerous cities in the world.

These conditions have sparked months of protests against the president, Nicolas Maduro. And it’s easy to see why: the country has become measurably worse since his election in 2013.

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20 Comments

  1. Coopa Jay says:

    Whaaaaaat? You mean when they adopted socialist policies the country collapsed??? Whhhoooooaa I'm soooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo surprised.

  2. Bai says:

    CAN WE JUST KILL MADURO?????? IM SO FREAKING PISSED!

  3. Andy F. says:

    Venezuela is a warning that socialism is a bad idea.

  4. Michael Albrecht says:

    No mention of socialism. Weird

  5. Aaron Virgo says:

    to bad they did not have a second amendment because if they had this would not be happening, just saying VOX

  6. scott hood says:

    It is the fault of socialism, stop supporting socialists

  7. MrKfq269 says:

    Are you lazy, hating snowflakes paying attention?

  8. Christina Napoleon says:

    There's socialism for ya.

  9. Creepy Joe Biden says:

    Not one mention of socialism… And these guys take themselves seriously…

  10. David Solowsky says:

    Whats wrong isnt socialism. The leader chosen isnt being truly socialist.A Socialist country is supposed to has elected officials, sometimes a constitution( there should be a constitution) and a Quota on mostly privatized businesses. For instance, I can have a grocery store. Its my store. But, much like when police have quarter quotas for arrests, a quota of business need to be met and a portion of that goes to the government- which redistributes that to the needier of ppl in a country. If your Socialist leader starts taking away rights to free speech and wants to own all businesses, he/shes smipping right to Communism. Communism is bad. Period. The only reason why Communism works in some places like the former USSR and China is because there actually is a period( usually one or two decades) in which a Communist Government is expected to allow its citizens to activately participate in free trade as to acquire wealth. Then the government takes ALL of the wealth. Venezuelas problem is that it didnt properly educate the people with the differences between Communism and Socialism. France is a Democratic Socialist country. They have a constitution. Theire leader has a limit to how long he may stay in office. This is all possible because the French ppl will know when the leadership begins to think Commy. They will see the signs.
    French-Socialist-good.
    Cuba-Communist- bad.
    USA- free public education- socialist- "pretty good"- (depends on who you ask)
    NKorea- Communist owns everything- bad- dictator commands Godlike respect- bad
    Once individual freedoms are denied and/or repressed, your leaving the realm of Socialism and going into Communism. As long as a countrys ppl demand a Constitution, the switch to Socialism could be a good transition. Seriously, in a solely free market economy a society's poor are all but enslaved anyway. The rich become obscenly so, and the poor remain poor honestly often through cold business tactics. For anyone booing Socialism, think Welfare- Unemployment- Unions( sort of)
    Free Education, Healthcare,( Canada) Subsidized housing( if your poor) even the military. A struggling country with vast resources should consider a governing platform that concentrates wealth, so as to use it to greater effect.

  11. Kevin Staggs says:

    I couldn't help but notice you left wing losers at Vox didn't mention socialism. Instead you try to put all Venezuela's problems on falling oil prices. You lefties just refuse to use your brain. Or is it more devious than just stupidity? Vox, you're a very bad joke.

  12. SevenThunderful says:

    To repeat what others have said, why for goodness sakes did you not mention the real cause of Venezuela's collapse, socialism! What is wrong with you sorry leftists? How many more failed socialist states like Venezuela, Cuba, North Korea etc. etc. must we endure before you folks figure out that Marxism is a lie? How much more human misery will these failed ideas create before the message is heard and understood?

    It's simple really, anything the government regulates becomes scarce, rationed or too expensive. Governments are inherently incompetent as is any overly large bureaucracy. Governments are only good for breaking things and hurting people; so you don't put government in charge of the economy or charity unless you want to suffer.

  13. Sebbonx Xsebbon says:

    My question involves the scumbag liberals in America, why do you idiots give them a pass for supporting Chavez's takeover even though the scumbag liberals know many will die because Socialism ALWAYS murders people?

  14. Ed Va says:

    Ok, so crisis has nothing to do with nationalising of petrol industry and failure to embrace free market.

  15. DeadlyGreenSpirit says:

    Socialism requires authoritarianism. Socialism is the problem. Get that into your heads.

  16. Noticias Al Dia 024 says:

    ultimo minuto ES POSIBLE DOLARIZAR VENEZUELA, ULTIMAS NOTICIAS DE #VENEZUELA HOY 29/11/2017 ►https://youtu.be/fMVLxfh2Qts

  17. S Aquino says:

    You guys understated the US' role in Venezuela. You know.. the US backed coup that tried to oust Chavez? Cmon Vox there's a bigger picture here

  18. Alex M says:

    Thank you for this information. I'll need to double check your facts before I commit it to my mind as truth, but either way it was very informative.

  19. Nathaniel Chapman says:

    Maduro was a socialist, this is what socialism does. And no, you could not do it better.

  20. Neptune roaming says:

    Vox is liberal bullshit cancer

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