Venezuela’s Slow Motion Economic Apocalypse by Mark J. Perry, Foundation For Economic Education
Food, Medicine, Toilet Paper, and Electricity Are Vanishing
Despite having more oil reserves than Saudi Arabia, and in fact more proven oil reserves than any country in the world (8 times more than the US), oil-rich Venezuela’s economy is imploding and collapsing under the burden of socialism, and economic conditions there have deteriorated so dramatically that they probably now qualify as the “economic apocalypse” that some left-leaning economists were predicting just a few years ago would never happen in Venezuela. Some links and updates about Venezuela’s economic apocalypse appear below:
- Here’s an overview from Investor’s Business Daily back in February, when Venezuela was still “on...
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