Everyone across the world has been hearing horror stories detailing the destruction of socialist Venezuela. Venezuelan’s have seen their lives overturned under an oppressive government. There seems to be no end to the struggle they face on a daily basis.
Many citizens have been starving to death, with some going as far as eating zoo animals—just as an attempt to survive the horrible reality of starvation. Recently, some citizens have made it a point to separate bags of edible and non-edible garbage so scavengers can more easily find a meal. Although this a short-term answer to subside mass hunger, it is by no means a lasting solution to their problems.
Venezuela has been plagued by issues historically recognized as being byproducts of socialism. Their currency is crashing, with a 1,660 percent rate of inflation just this year and an expectation of it hitting 2,880 percent in 2018. They have been selling their gold reserves and are running out of money fast.
Corruption & mismanagement are killing socialist Venezuela
Things will only get worse in Venezuela as corruption and mismanagement continue with their government and infrastructure. There appears to be a perfect storm for the country. Even their main export, oil, is priced at a level that’s half of what it used to be. It’s being said they are so broke they can’t even export it anymore. The people of socialist Venezuela are running out of money, and it’s only a matter of time before there is a revolution or mass death.
“Another key problem is the relatively low price of oil, which stands at half of what it was in 2014. Venezuela has more oil reserves than any other nation in the world—oil shipments make up over 90 percent of the country’s total exports. That’s making it nearly impossible for the country to pay its debts and import food, medicine and other essentials for its citizens.”