Venezuela’s fall is the single largest economic collapse outside of war in at least 45 years, economists say.
“It’s really hard to think of a human tragedy of this scale outside civil war,” said Kenneth Rogoff, an economics professor at Harvard University and former chief economist at the International Monetary Fund. “This will be a touchstone of disastrous policies for decades to come.”
Venezuela was once the wealthiest nation in Latin America, but the poor governance, corruption and misguided policies of President Nicolás Maduro and his predecessor, Hugo Chávez, have fueled runaway inflation, shuttered businesses and brought the country to its knees, The NY Times reported.
When The NY Times reported this they didn’t bother to mention the real culprit is socialism. Stealing peoples’ money and land, wage and price controls, failing to do the right thing with refineries because they were corrupt all-powerful dictators were the root causes of the disaster.
Many Venezuelans still want the freebies and the military loves the power so they won’t give it up. They gave up their freedom for it.
That’s what socialism/communism breeds. There is no other possible outcome.
This took place long before the sanctions which many now blame.
THIS IS WHAT SOCIALISM LOOKS LIKE!
In a land rich with oil reserves, this is the line of cars waiting for fuel.
— CNW (@ConflictsW) May 18, 2019
“Yusmira Leon was diagnosed with breast cancer, living with her three children in extreme poverty and without any medical treatment for her disease in Venezuela. 😞😭 @USAemPortugues@realDonaldTrump @VP @AmbJohnBolton @SecPompeo @WHAAsstSecty @EmbaixadaEUA @Southcom @POTUS @CIA pic.twitter.com/SHV5Jd2d8o
— Saulo Azevedo 🇧🇷🇺🇸🇻🇪 (@militant_trump_) May 17, 2019
Poverty levels in #Venezuela are so high (87%) that some can’t find or are unable to afford meat and forced to eat stray cats or dogs as their only option. #SOSVenezuela #ZeroHunger
— Michael Welling (@WellingMichael) May 13, 2019
There are parts of the United States starting to look like that for the ever-growing homeless population and they are all in liberal/socialist cities.