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https://www.washingtonpost.com/news/wonk/wp/2016/05/04/venezuela-is-becoming-a-failed-state/
They have the largest petroleum reserves in the world, but they can't even afford imported paper and ink to print money.
Apparently, the government can still afford to import bullets.
Years and years ago I told anyone who would listen that this was going to happen in Venezuela. It was crystal clear when one listened to Hugo Chavez's rhetoric.
The Washington Post thinks that the Venezuelan government is on the brink of collapse outright. The sooner the pain of that is over the better.
They have the largest petroleum reserves in the world, but they can't even afford imported paper and ink to print money.
Venezuela, in other words, is well past the point of worrying that its economy might collapse. It already has. That's the only way to describe an economy that the International Monetary Fund thinks is going to shrink 8 percent and have 720 percent inflation this year. And that's not even the worst of it. No, that's the fact that the state itself is near collapse. Venezuela already has the world's second-highest murder rate, and now the Chavista regime seems to be threatening violence of its own if the opposition succeeds in recalling President Nicolás Maduro. It's a grim race between anarchy and civil war.
Apparently, the government can still afford to import bullets.
Years and years ago I told anyone who would listen that this was going to happen in Venezuela. It was crystal clear when one listened to Hugo Chavez's rhetoric.
The Washington Post thinks that the Venezuelan government is on the brink of collapse outright. The sooner the pain of that is over the better.