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- Published on: Friday, August 25, 2017
- Venezuela is in chaos. How did we get here?
Correction at 1:58: The Supreme Court tried to strip the country’s National Assembly of its powers in March 2017 and not 2016. We regret the error.
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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.
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/[email protected]/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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For more, don't miss the first episode of Vox Borders: Colombia. Johnny Harris traveled to Cúcuta, a city on the border between Colombia and Venezuela to see how the country is handling a massive wave of refugees fleeing the economic crisis. Watch: https://youtu.be/NU0RqwweuWY
It’s called socialism.
Hey I have an idea everybody. Bernie Sanders has talked about copying the health care systems of the UK, France, Sweden, Japan, Australia ect.........what if we pretended he was talking about Venezuela?
Time to ," Storm the Castle", .
🇻🇪❤️🇿🇦
the economy is manage by 10 years old mind president in economics
Let them enjoy what they voted for...
America just wants to use the oil for them selves
Bernie Sanders = Hugo Chavez
My Spanish teacher, ACTUALLY dated the previous president of Venezuela’s son
That’s an actual true story too, even I don’t believe it, but she had proof 🤷♂️
They failed because their socialist
And what about the american golpe?
Yeah no mention of socialism 🙄
Now, they know why socialism and communism are the most idiotic form of government! They elected the most idiotic president!
In short: Bus driver as president.
Communism has historically Always collapsed.This is what the democrats want for us.
Hugo Chavez was better wish he was still alive
12,000 bolivars for $1? Sounds good
Bernie Sanders didn't even write the only two lines that republicans have tried to pin on him, regarding a link between Bernie and support for Venezuela, (1st paragraph of this article): Quillette.com- The Falsity of the Sanders Venezuela Meme: These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina, where incomes are actually more equal today than they are in the land of Horatio Alger. Who’s the banana republic now?So did Sanders write it? This mystery was resolved with a single email to the Valley News Editorial Board. An editor named Ernie Kohlsaat replied:The Aug. 4, 2011, piece you are referring to, headlined “Close the Gaps: Disparities That Threaten America,” was an editorial, not a news article. It was written by a member of the Valley News Editorial Board and as such reflects the opinion of the newspaper. The version on Sen. Sanders’ website appears to be an accurate rendition of the editorial as published on Page A8 of the Valley News on that date. So, apparently Bernie only posted the editorial because of the main body of the editorial, which talked about America's economic inequalities, primarily.
socialism. . . that's all.