Hugo Chavez and his successor Maduro have brought starvation and economic ruin to Venezuela. Venezuela did have 60% poverty when Chavez started but starvation and crime rates become far bigger problems under Chavez.
Sean Penn in a recent interview on the Daily Show still indicates that he thinks Hugo Chavez was not to blame for Venezuela’s problems.
Kidnapping and murder rates vastly increased under Chavez.
During the presidency of Chávez, Venezuela faced occasional shortages owing to high inflation and government financial inefficiencies. In 2005, Chávez announced the initiation of Venezuela’s own “great leap forward”, following the example of Mao Zedong’s Great Leap Forward. An increase in shortages began to occur that year as 5% of items became unavailable according to the Central Bank of Venezuela. In January 2008, 24.7% of goods were reported to be unavailable in Venezuela, with the scarcity of goods remaining high until May 2008, when there was a shortage of 16.3% of goods. However, shortages increased again in January 2012 to nearly the same rate as in 2008.
The next video indicates how public spending under Chavez tripled and how job democratization under Chavez doubled staffing at the PDVSA oil company without increasing the amount of oil produced.
Oil prices were rising throughout almost all of the Chavez presidency from 1999 to 2013. At the end, Venezuela needed $200 per barrel oil to balance its budget. So Chavez was making Venezuela bankrupt even when prices were over $100 per barrel.
Venezuela’s debt increased despite rising and high oil prices.
The Venezuela currency dropped massively while Chavez was still leading Venezuela.
Michael Moore was asked about Venezuela after Maduro stole the 2017 election. Moore says that Americans should not comment or meddle in Venezuela and its elections. Moore then talks about the CIA and the USA being the originators of election meddling.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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