The collapse of Venezuela, explained


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Published: 1 year ago
The country is in chaos, but its leaders aren't going anywhere.

Correction at 1:58: It’s been brought to our notice that the Supreme Court tried to strip the country’s National Assembly of its powers in March 2017 and not 2016. We regret the error.

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Venezuela was once the richest country in Latin America. It has the largest known oil reserves in the world and its democratic government was once praised world wide.

But today, Venezuela’s democratic institutions and its economy are in shambles.The country has the highest inflation in the world, making food and medicine inaccessible to most Venezuelans.

Over the last four years, its GDP has fallen 35%, which is a sharper drop than the one seen during the Great Depression in the US. The country’s murder rate has surpassed that of the most dangerous cities in the world.

These conditions have sparked months of protests against the president, Nicolas Maduro. And it’s easy to see why: the country has become measurably worse since his election in 2013.

Correction at 1:58: It’s been brought to our notice that the Supreme Court tried to strip the country’s National Assembly of its powers in March 2017 and not 2016. We regret the error.

For more on the Supreme Court ruling: https://www.vox.com/world/2017/5/1/15408828/venezuela-protests-maduro-parliament-supreme-court-crisis

Sources:

0:56 https://tradingeconomics.com/venezuela/inflation-cpi , https://tradingeconomics.com/venezuela/consumer-price-index-cpi , http://www.imf.org/external/datamapper/[email protected]/OEMDC/ADVEC/WEOWORLD/VEN?year=2017 , https://en.wikipedia.org/wiki/Crime_in_Venezuela#/media/File:1998_to_2013_Venezuela_Murder_Rate.png

https://www.reuters.com/article/us-venezuela-economy-forex-idUSKBN1AP2LM

1:25 https://www.scribd.com/document/354981596/Datanalisis-Informe-Omnibus-Julio-2017-ODH-Consultores#from_embed (Page 22)

http://www.datanalisis.com/

1:54 https://www.wsj.com/articles/maduro-s-allies-stack-venezuelas-supreme-court-1450912005

3:27 https://www.eia.gov/todayinenergy/detail.php?id=24432

3:44 https://commons.wikimedia.org/wiki/File:Venezuela_Poverty_Rate_1997_to_2013.png

4:00 https://www.economist.com/news/finance-and-economics/21720289-over-past-year-74-venezuelans-lost-average-87kg-weight-how

4:40 https://www.cato.org/research/troubled-currencies?tab=venezuela

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For more, don't miss the first episode of Vox Borders: Colombia. Johnny Harris traveled to Cúcuta, a city on the border between Colombia and Venezuela to see how the country is handling a massive wave of refugees fleeing the economic crisis. Watch: https://youtu.be/NU0RqwweuWY

1 month ago

hey vox please make us a video about algerian protests

19 hours ago

How much america paying your channel for bias towards the west ??? Disgusting

3 days ago

Listen what UN envoy in Venezuela, Alfred De Zayas is saying in this interview at minute 24'08'' https://www.youtube.com/watch?v=yJ0OZyDi9ds

4 days ago

The US-funded CANVAS organization that trained Juan Guaido and his allies produced a 2010 memo on exploiting electricity outages and urged the opposition “to take advantage of the situation…towards their needs”

5 days ago

It's communism, it ruins everything.

11 hours ago

Trump's economic sanctions against venezualia force venezualia to default on a $ billion dollar Ioan from Russian state owned ROSNEFT oil.
venezualia will lose its 7 most productive oil fields and the 1700 CITGO gasoline stations and their 2 oil refineries in the US.
why would trump force these assets into putins hands?
why would trump allow putin to own the 1700 CITGO gasoline stations in America?
what did putin and trump talk about in secret in Helsinki?

can you say;
" trump / putin conspiracy to committ economic collusion?"

12 hours ago

May Allah helps the venezuela 🇻🇪
Love from Pakistan 🇵🇰

12 hours ago

Make Venezuela Great Again! Bring Back Hugo Chavez!!

12 hours ago

Their currency is named after a guy?

12 hours ago

80 % Venezuelans against maduro???? LoL 😆 this video it’s bullshit lies guys 🤦🏼‍♂️

13 hours ago

Before people go comparing what's happening in Venezuela with what Democrats are saying, stop right there.


The US is the most innovative and advanced economy in the entire world. We can afford things like universal healthcare because we control vast amounts of global wealth.


If you want to compare the US with another country then compare it to Germany or another advanced industrialized economy in the "Oecd." Quit making facile comparisons.

14 hours ago

Ahmmmmm. OIL?! Smells like Thrump. Don't need a prophets to see the future, it's obvious. 🤔

15 hours ago

talk about about all the money and gold stolen from Venezuela.

15 hours ago

So basically it being socialist was a lie

16 hours ago

See why we fight for our 2nd amendment rights?????

18 hours ago

People protesting for a legitimate reason??something America and BLM could learn from....

18 hours ago

AYÚDENNOS... Animales zoológico venezolano son solo huesos andantes

DOS. AÑOS. ROGAMOS. POR. ELLOS

18 hours ago

Animales zoológico venezolano son solo huesos andantes...DOS AÑOS ROGAMOS POR ELLOS
.

19 hours ago

Why American media often criticised Venezuela. .all ths crisis where create by CIA. .n says Venezuela are poor bcz of not granting oil to USA. .common there are alys human like u n me..left them alone selfish American..

20 hours ago

Democratic socialism. They voted them in because there was wealth inequality. Gave up their guns. They got free health care. Free food. The government gave them high paying jobs. Everyone lived well until there was no more money to take. Thats it.

22 hours ago

oil said it all for me united nations will try to take it

23 hours ago

blind drift 😂😂😂what?? the US, China and Russia buy all of Venezuela’s oil 😂 you think they got rich by themselves 😂😂😂

27 minutes ago

May God help Venezuela and its people
Love & Prayers from Pakistan

1 day ago

Hitler revived

1 day ago

Democratic Socialism at work! That simple! The ignorant pushing democratic socialism in the US will be eating their dogs also if we fall for the stupidity of the left.

1 day ago

God helps Venezuela🇻🇪 to maintain a democratic state
Love from a communist China🇨🇳

1 day ago

I only watched to see if they would mention socialism or not

1 day ago

Saudi Arabia purposely lowered oil prices to mess with Venezuela!

1 day ago

6:10 Latino sam Jackson

1 day ago

After Venezuela nationalised the oil company all these problems began. John Bolton publicly said that if American oil companies owned the oil in Venezuela that it would make a big difference for the USA. Madura is in trouble with the USA as the bully.

1 day ago

This looks like just from France Gilet jaunes Prayers for you From Swiszterland 🇨🇭🇨🇭🇨🇭🇨🇭LOVE YOU

1 day ago

Hmmmm Stalin came to the future interesting

1 day ago

+Frenkijas kanāls yes a fzcking russian president he died somewhere in 195?

1 day ago

+Frenkijas kanāls im not making a joke out of it -_-

1 day ago

Not funny 😠😠😠😡 u dont know who he was

1 day ago

hands off venezuela

1 day ago

Since Chavez?....its come to this?....WTF...

2 days ago

1

2 days ago

Actually nangyari din ito sa pilipinas noon yang pa rally rally. But ang pinag kaiba lang is.. Maayos pa nman ang bansa noon.. Walang pag hihirap, may mga trabaho at malaki din value ng pera ng pilipinas.

2 days ago

Jimmy Dore had journalist on saying the crises is fake, they're not starving, looks the same as a decade ago. Power outage was real, zoo animals not. 2 start war, topple Gov? What is the truth, anyone KNOW?

2 days ago

This pathetic hit piece informs us all that Vox is a tool of Wall Street. Who pays your salaries? Hmmm. Vox is the US version of RT.

2 days ago

In 1990 they nationalized the farms.. production dropped 70% same with all the industries in the country....same drop in production
The people totally believe that socialism is the only way to go.... Venezuela is a lost cause.. it's what the people want. It's a total lost cause ....

2 days ago

Chaves is the reason why maduro is ruining Venezuela 🇻🇪

2 days ago

The main problem here is socialism: Governments cannot be trusted to manage a nation’s entire economy.

2 days ago

Don't forget deregulation and Capitalism led to the 2008 financial meltdown as well as the Great Depression.

14 hours ago

God save Venezuela from Imperialism,
Love from Zimbabwe, we love sanctions here since we got our land back
hurrah

2 days ago

Effects of economic warfare, why is it that white people cannot compete on fair ground? I like the way the author quotes economic/statistical data with finality, You just full of western hypocrisy Mr author

2 days ago

Soo no one is gonna mention that socialism is the reason the richest country in South America is now the poorest and most dangerous?

3 days ago

This video describes Venezuelans as victims, but on contrary they are the cause of what they have.

3 days ago

I'm Somali and my country is better.

3 days ago

Neo-liberal bullshit, fucken assclowns.

3 days ago

Ali Primera ,,,say ,,, before Chaves house were made of cardboard ,,,,,,

3 days ago

Ali Primera ,,,say ,,, before Chaves house were made of cardboard ,,,,,,

3 days ago