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Old 05-08-2016   #61
Firn
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Indeed the man who largely created this mess died before the economy went from a disaster to an utter catastrophe:

Venezuela Doesn't Have Enough Money to Pay for Its Money

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In a tale that highlights the chaos of unbridled inflation, Venezuela is scrambling to print new bills fast enough to keep up with the torrid pace of price increases. Most of the cash, like nearly everything else in the oil-exporting country, is imported. And with hard currency reserves sinking to critically low levels, the central bank is doling out payments so slowly to foreign providers that they are foregoing further business.

Venezuela, in other words, is now so broke that it may not have enough money to pay for its money.
It is certainly an excellent case in point that elections do matter sometimes a very great deal and an economy in tatters can still fall to formerly unthinkable lows.
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Old 09-01-2016   #62
AdamG
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Ultra-violent gangs thrive in chaotic Venezuela despite crackdown

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The operations also encourage gang leaders to unite and seek more powerful weapons, said Keymer Avila, part of a group of Venezuelan and foreign academics researching crime in the country.

At his safe house, Anderson confirmed that.

"It's better to work together than be enemies. It's better to make war with the police than with each other."
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The click-clack of guns being cocked echoes in the cement safe house where seven kidnappers keep watch over a western Caracas slum, their 33-year-old gang leader boasting of grenade attacks on police and growing wealth and power.

Venezuela's socialist economy is suffering triple-digit inflation, severe shortages and a third year of recession, but gangs like this have found strength and profit in the chaos.

They are teaming up with former rivals and buying heavier weapons to control ever-larger territory in the capital and beyond, the criminals, the government and criminologists say.
http://www.reuters.com/article/us-ve...-idUSKCN1162AJ
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