Behind Venezuela's looming collapse

[Bacchus4.0]

http://www.aljazeera.com/programmes/countingthecost/2016/05/venezuela-looming-collapse-160528081007472.html

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With oil accounting for 95 percent of Venezuela's export earnings, plummeting world prices have sent the South American economy reeling towards collapse: People are going hungry, inflation has spiralled out of control, the military is patrolling supermarkets to keep order amid rising anger, basic raw materials and supplies have run out, and factories are shutting down.

According to the World Bank, Venezuela now ranks so low on the list of countries to do business with, it surpasses only Libya, Eritrea and South Sudan.

President Nicolas Maduro has turned to selling Venezuela's gold. According to the IMF, the country's gold reserves have dropped almost a third over the past year. So far Maduro has prioritised the payment of international debts to prevent an outright default.

Meanwhile Venezuelans are struggling to feed their children, with an alarming consequence - malnutrition is at an all-time high, with the majority of school children not receiving the recommended dose of nutrients for healthy growth and function.

[DetlefK]

1. Mark my words. A popular revolution before 2016 ends.

Maduro wants to ride out the situation but Venezuela needs a new economic system, new policies.



A popular revolution before 2016 ends, overthrowing Maduro.
Then the oligarchs overthrow the popular revolution and take over Venezuela in the power-vacuum.
Instability, corruption, but at least it won't be as bad as under Maduro.
And we will get never-ending, history-rewriting conspiracy-theories how all of this was the fault of the US.

[Bacchus4.0]

2. Nothing could be worse than what they have now nt