Half the Venezuelan economy has disappeared. Venezuela's economy on the brink of collapse.
It's getting worse. Unemployment will reach 30% and prices on all types of goods in the country will rise 13,000% this year, according to new figures published Thursday by the International Monetary Fund.

The IMF's economist for the Western Hemisphere, Alejandro Werner, put Venezuela's future bluntly.

"In Venezuela, the crisis continues," Werner said in a blog post. He added that inflation is skyrocketing this year because of "the loss of confidence in the nation's currency."

This year will mark the third consecutive year of double-digit contractions in Venezuela's gross domestic product, the broadest measure of economic activity. The nation's GDP declined 16% in 2016, 14% last year and it's projected to fall 15% this year, according to the IMF.

Venezuela is deep into an economic, political and humanitarian crisis, largely inflicted by the government's own policies, economists say. Food and medical shortages are widespread. People are scavenging for food in dumpsters. Citizens are fleeing by the thousands. The currency, the bolivar, is nearly worthless. The government has defaulted on its debt. World leaders are calling President Nicolas Maduro a dictator.

The political turmoil is not expected to get better. Maduro's administration said this week it will hold presidential elections this spring. Maduro has already excluded opposition leaders from participating in the election. It's unclear if anyone is actually allowed to run against him. Meanwhile, the economy shows no signs of recovery.

Meanwhile, the economy shows no signs of recovery. Unafortunetly.
Just thinking about the poor ones.

This is happening everywhere and I think it’s sad

So, something that costs a $1 will cost $13,000.00
Yeah, not likely.

Their Bolivar is worthless.

http://money.cnn.com/2018/01/22/news/economy/eu-venezuela-sanctions/index.html?iid=EL

It is a pure dictatorship there. And the only thing that will stop that from continuing unfortunately is a coup and overthrow of the dictator.

And it will get much worse before it starts to get better. The only ones who can make change there are its people and when they hit rock bottom they will revolt. 30% unemployment is startling.

The ones most hurt are the children and the elderly, which is absolutely terrible.

But, we can not and should not get involved other then humanitarian support as we can not afford to be the worlds 911 anymore, which is a thankless job to begin with.

The crisis in Venezuela is far more worst than you can imagine
For the last 5-6 years it’s almost the same as now

If the government is able to cut the problem today, maybe, maybe in 15-20 the situation will change

I live in South America, in the last 4 years there is a big emigration of people of Venezuela to my City

Would that be in Columbia? I have read that Columbia tightly controls and restricts their border with Venezuela. Wonder why?

Illegals?

It’s Colombia

There also a big amount of Colombian emigrants to my City

Sometimes Cúcuta at the border with Venezuela is closed for people in d Venezuela

Venezuela now is like Cuba in the 80’s

So people can not just waltz into your country uninvited.. right.

It's a bit vague to just say "leftists policies," and then broadly condemn nothing in particular.

What I've seen happen, both in Venezuela and in other non-"leftist" countries, is that incompetence and corruption at the top, invariably leads to national disaster.

Essentially, in Venezuela, the corrupt leadership tried to use the profits from the oil production windfall, to retain power by bribing the population with social supports, into tolerating their massive personal wealth grabs. It wasn't the social programs that did the country in, it was the complete personal greed based way that the people in power behaved. What so-called leftist policies appeared there, were a RESULT of the corruption, not the cause of it.

whatever gets you to sleep at nite... But, socialism doesn't work, been proven over and over, and you wanna quivil over wording...if a pitcher on the mound thows and the ball gets hit for a home run, it's the balls fault, right?...

The colateral damage for the future generations in Venezuela is far the worst, they used to obtain the essential without and effort.
I know some people to had return to Venezuela after living a while in other countries because they are comfortable with the way they live

Call it what you want to liberalism, liberal policies. I prefer to call it corruption.

Who’s calling liberalism??

It’s a disaster, a mess at the best !!

It is indeed and you know the people themselves are to blame. They voted for it and let it happen. May be the only good to come out of it is others will learn from it, but I doubt it.

You keep thinking I am arguing FOR socialism. I never have.

I am arguing AGAINST erroneous analysis of problems, because when you decide to blame the wrong cause of a problem, you always make it WORSE, and never better.

seems that corruption is part of the socialist platform... Seems in all countries that are socialist, the leaders and their minions are the only rich people...