Originally Posted by Sherkeu
I know next to nothing about Venezuela, but based on what I can find on Wikipedia, it seems as if people there have been struggling with insufficient living conditions for the past 50 years, so I see no reason to ignore the economy of the country prior to Hugo Chavez’s presidency: Economy of Venezuela 1960s to 1990s
Venezuela’s position at the Misery Index of 2016
is deplorable and seems to be due mainly to the drastic drop in oil prices:
History of Venezuela’s inflation inflation compared to oil revenue
A slightly more balanced
view of the crisis in Venezuela can be found at the BBC: Venezuela crisis: What is behind the turmoil?
What I absolutely hate about US reports about Venezuela is stuff like this:
The Venezuelan state is trying to make sure that poor people will still be able to eat
, and the media in the USA worry about this offense against the laws of capitalism! 'This is how devastating your attempts at bribing the poor with bread
is to a proper market economy!'