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The collapse of Venezuela, explained

Vox
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Venezuela is in chaos. How did we get here?
Correction at 1:58: 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.
For more on the Supreme Court ruling: www.vox.com/world/2017/5/1/15408828/venezuela-protests-maduro-parliament-supreme-court-crisis
Sources:
0:56 tradingeconomics.com/venezuela/inflation-cpi , tradingeconomics.com/venezuela/consumer-price-index-cpi , www.imf.org/external/datamapper/PPPPC@WEO/OEMDC/ADVEC/WEOWORLD/VEN?year=2017 , en.wikipedia.org/wiki/Crime_in_Venezuela#/media/File:1998_to_2013_Venezuela_Murder_Rate.png
www.reuters.com/article/us-venezuela-economy-forex-idUSKBN1AP2LM
1:25 www.scribd.com/document/354981596/Datanalisis-Informe-Omnibus-Julio-2017-ODH-Consultores#from_embed (Page 22)
www.datanalisis.com/
1:54 www.wsj.com/articles/maduro-s-allies-stack-venezuelas-supreme-court-1450912005
3:27 www.eia.gov/todayinenergy/detail.php?id=24432
3:44 commons.wikimedia.org/wiki/File:Venezuela_Poverty_Rate_1997_to_2013.png
4:00 www.economist.com/news/finance-and-economics/21720289-over-past-year-74-venezuelans-lost-average-87kg-weight-how
4:40 www.cato.org/research/troubled-currencies?tab=venezuela
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Comments 80
Vox
Vox Year ago
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: ruvid.net/video/video-NU0RqwweuWY.html
Немања Вуковић
What about America doing embargo?
Michael Vargs
Michael Vargs Month ago
Ok so they were the richest country in SA, but who had all the wealth?! Not the middle or lower class. You have to mention this before trying to portray Venezuela as ever having a strong middle/lower class. They have been dwindling since the 90's.
willl 88
willl 88 4 months ago
Goid thing they dont have access to firearms.....they might take back their country lol
willl 88
willl 88 4 months ago
Goid thing the people were disarmed...they might take back their country...
Danny Rojas
Danny Rojas 4 months ago
Make sure you expose Chavez as partially responsible... That was nauseating from you to make it seem as if he had nothing to do with this. His populist programs, the fact that he started printing money and expropriating private owned businesses STARTED EVERYTHING
alvaro
alvaro 8 hours ago
We should blame the us for what is happening to the venezuelan people.
Xenon Weeb S
Xenon Weeb S 14 hours ago
what im seeing is a capitalist ruined venezuela
G Hanns
G Hanns 16 hours ago
Replace Maduro with trump
Mark V
Mark V Day ago
What socialism does ..
Viktor ScruelberG
Vox it's really a simple answer !! *SOCIALISM*
kemp295
kemp295 Day ago
Can someone please tell me where I can find this guy I have to deliver important message from Trump
Patrick Ramsey
Patrick Ramsey 2 days ago
Peru has also taken more than 1 million venezuelan refugees.
RebelBelle
RebelBelle 2 days ago
People who are voting for Bernie Sanders, I highly encourage y’all to do research on socialism and more about Venezuela
MrPolandball
MrPolandball 16 hours ago
People who are voting for Trump should do research on Epstein and Zionism.
22 1
22 1 2 days ago
And thats how socialism works!
Yanique Brown
Yanique Brown 2 days ago
Lie
tsoke pinon
tsoke pinon 2 days ago
Democracy+oil sounds like familiar 🤔
Its ya boi Craig
Its ya boi Craig 2 days ago
America gonna "liberate" Venezuela once it breaks down.
Roberto f Rivera
Roberto f Rivera 3 days ago
Crime scene Island...looks like afganistan ...no way out....🐴🐴🐴🐴🐴🐴🐴🐴🐴🐴🐴🦊🦊🦊🦊🦊🦊🦊🦊🐴🐴🐴
Kofi Annan
Kofi Annan 3 days ago
Sounds like Trump is following this playbook almost exactly.
Abelardo Karaan
Abelardo Karaan 4 days ago
I I am from Venezuela 🇻🇪 it’s just BAD 😭😭😭
Natalia Chigne Saud
Pray for Venezuela and our people please 🇻🇪
Raymond Soriano
Raymond Soriano 4 days ago
The chaos and anarchy is CIA orchestrated.
Joe Kerr
Joe Kerr 4 days ago
US is only interested in their oil !
Himanshu Sirohi
Himanshu Sirohi 4 days ago
Who would he rule, if they are not getting enough to eat?
Rübį
Rübį 4 days ago
It really hurts as a Venezuelan to see this, I left the country before it started and now that I see this it just hurts, I have family there and it hurts to see all of this and how they deal with this, yet again I used to go to school there,walk those streets,go play with friends there and now this is just....unbelievable.
Liberal Christo
Liberal Christo 4 days ago
Sounds to me like our Central banks right now
lord pochinki
lord pochinki 4 days ago
I have seen Jack Ryan and I know what is going on.
John Yohann
John Yohann 4 days ago
I wish that Trump or some power would slip an assassin through and gun this guy down. Why hasn't the military attempted a coup? I forgot- there was an attempt, but failed. They need more of the military to back it up. It just proves what everyone says about socialism. I just can't see why the military doesn't see the evil and destructive nature of this system and dictator, toward the people.
AZ Shark
AZ Shark 4 days ago
This is why we say NO to Bernie Sanders !!!
Jimmy Gamal Ismail
Pretty ironic and tragic that the suffer of thousands and millions of lives and their offsprings are always connected with the welfare of few numbers of individuals
volooooo
volooooo 5 days ago
Socialism Communism Bernie Sanders’ type policies
Cosmic Gaming
Cosmic Gaming 4 days ago
Nowhere in the video does it even mention socialism or communism.
Gagan Preet
Gagan Preet 5 days ago
Its basically too much dependence on oil destroyed this country.
Mr Slate
Mr Slate 6 days ago
Universal suffrage = Left wing socialism/communism = destroyed society
dijo dim
dijo dim 6 days ago
Send the rich american socialists to Venezuela
GamingMaster _04
GamingMaster _04 6 days ago
It’s weird that Maduro hasn’t been assassinated yet
Mariajose Vilorio
He did have an attempt with a drone.
Dylan Fernando
Dylan Fernando 7 days ago
US did this to Venezuela, they cut off Venezuela from the international financial market.
Matěj Pešta
Matěj Pešta 8 days ago
That's what socialism does.
HolyRagingMonkey
HolyRagingMonkey 6 days ago
Venezuela is 70% privately owned buddy, that's not socialism.
Scott Woodham
Scott Woodham 8 days ago
This is so sad America doesn't need to be like this at all this why we have President Trump as america's President
andrewf0784
andrewf0784 8 days ago
It failed because of socialism .
John Yohann
John Yohann 4 days ago
Even more specifically, undemocratic socialism. Democratic socialism only really exists in social democracies like Europe and Canada. Except that they aren't really socialist, as they have private enterprise. That's why they are social democracies, and not democratic socialist.
Starwars Fan360
Starwars Fan360 6 days ago
HolyRagingMonkey yes it is. All the private owned has government interference. Plus maduro is a self proclaim socialist and despises capitalism.
HolyRagingMonkey
HolyRagingMonkey 6 days ago
Venezuela is not socialist, 70% private property is NOT socialism.
ImAnol Salazar
ImAnol Salazar 8 days ago
WHOA LETS GO BERNIE
rocco angelillo
rocco angelillo 9 days ago
Socialism=Evil it’s not rocket appliances
erick gonzalez
erick gonzalez 9 days ago
What surprised the most is the people, they dont stop protesting, they are worried for the future of the country, and in the end they are the only ones who can change the situation of their country
Aflax News
Aflax News 10 days ago
$15 mil who ever finds him!! Dababy : *let's gooo*
ALVIN MUSAI
ALVIN MUSAI 9 days ago
Aflax News I was literally searching for a comment like this..
Collin Blatchford
Collin Blatchford 10 days ago
Its almost like if you focus on one market your economy is extremely volatile. If only they had entrepreneurs.
ROFLCOPTER
ROFLCOPTER 9 days ago
Nah, you can have a diverse state run economy too...
El Cocaino
El Cocaino 11 days ago
Literally the U.S any second now :v
Georgia boy AMERICAN
Not really
Tate Schmaltz
Tate Schmaltz 15 days ago
El Goblino de las Mestizo
Dynamite24
Dynamite24 16 days ago
So the socialism in Venezuela could’ve worked, had the oil industry been handled with proper caution?
ROFLCOPTER
ROFLCOPTER 9 days ago
YES. Socialism works if you are a good leader. Main Problem of Chavez' politics were the focus on the oil industry, a mistake that lead to this disaster. His social policies however, were great. Especially his handling of the housing crisis.
DutchDread
DutchDread 16 days ago
This is why incitement to violence should be legal, because if a country ever gets to the point of Venezuela, rallying together under the banner of killing Maduro should be legal.
JohnDick
JohnDick 16 days ago
why arabic subt ?? fckthat
Stephen Negley
Stephen Negley 16 days ago
Who else thinks this dictator looks like Saddam Hussein's twin brother?
Loke Baldersbane
Loke Baldersbane 17 days ago
US imperial imbeciles? You are very dangerous imbeciles, ever heard of Chaves and what he did. Does Iran 1953 ring a bell, that is why you are hated.
hello 2 u my friend
Freaking facict
Matthew Bunn
Matthew Bunn 17 days ago
To think that most of these protestors talking to the camera have either starved to death, been shot by police, or worse. It's lovely. Proof that socialism is totally successful and sustainable. I sure hope Bernie Sanders turns America into Venezuela. A lovely country.
Matthew Blissett
Matthew Blissett 16 days ago
mismanagement and socialism aren't the same. You troglodyte.
jordan pastry
jordan pastry 19 days ago
Expose her
The 80's Wolf
The 80's Wolf 19 days ago
Now during these corona times there are empty shelves everywhere in the western societies. Are we gonna complain about capitalism not being able to give goods to people in time of crisis and full economic growth yet in our societies of capitalistic freedom? Nah? Ah, as I thought.
The 80's Wolf
The 80's Wolf 19 days ago
Now during these corona times there are empty shelves everywhere in the western societies. Are we gonna complain about capitalism not being able to give goods to people in time of crisis and full economic growth yet in our societies of capitalistic freedom? Nah? Ah, as I thought.
cow cow
cow cow 20 days ago
They deserve what they have been through. It was their choice to choose socialism
mpa324
mpa324 21 day ago
Why hasn't the US taken over the oil yet, I mean liberated the people?
Paul Mehl
Paul Mehl 2 days ago
@Scientific_Mind I apologise. I'm just fed up that the rest of the world simply looks the other way, without any objections.
Scientific_Mind
Scientific_Mind 2 days ago
Paul Mehl can’t you read? Where did I write they want to “help” a country? I mentioned they want to project influence.
Paul Mehl
Paul Mehl 2 days ago
@Scientific_Mind ,oh how delusional! Of course it's their oil. There other countries with oppressed people who need help, but unfortunately they have no resources of interest,so no ' democracy' for them.
Scientific_Mind
Scientific_Mind 6 days ago
Because US doesn't care about oil. It's about projecting geo-political influence. It's foolish to think they care about oil. They did, once during cold war to keep oil flowing from Saudi's in case of a war with Russia. Now the US is the biggest oil producing nation in the world.
Explodingtraps
Explodingtraps 16 days ago
oil is on it's way out so it's not worth it anymore
German Rojas
German Rojas 21 day ago
Countries need money mind investors to create economy . Leader leader ship. Might need schools or some just openminded already.
Popcop
Popcop 21 day ago
Most of these people were born poor, when I was born in Venezuela everyone in my family worked and we had a 2 story house, bathrooms outside and inside, big outside part, most of these people decide to not work since they think they cannot get any money, yes I do understand that the currency is very bad but soon our Socialist Government will get better by the time and by not refusing to work.
elvis alfonzo
elvis alfonzo 21 day ago
El socialismo trajo muerte a Venezuela
Hammer Sandoval
Hammer Sandoval 22 days ago
No worries, oil will change everything. 🤬
Charles Charlemagne
Its a Vox documentary so take it with a grain of salt
TheBendablespoons
TheBendablespoons 23 days ago
2 years later the country hasn't collapsed despite the best attempts by the noisy jackals at this NATO propagandist outlet
renegade_ace
renegade_ace 23 days ago
Someone like Bernie Sanders came to power.
It's just me
It's just me 24 days ago
One Word: Socialism
The Glowing Beans guy
Lets not forget that the inflation rate is higher than a price of a diamond
Mark Armage
Mark Armage 25 days ago
It's called socialism, giving money away out of thin air and eventually it fell.
Rayan Omar
Rayan Omar 25 days ago
as an indo guyanese living in Canada, I wish well for my neighbours to the west of guyana
Kyler P.
Kyler P. 25 days ago
Calling it now, Maduro is gonna start a war
Veromungai Mungai
Veromungai Mungai 26 days ago
How tf does the government find itself in such a crisis 1.oppressing intellectuals 2.blind socialism and popularist policies
Kill all Zionists
Kill all Zionists 25 days ago
You did not mention the US sanctions😒
Laura Dee
Laura Dee 26 days ago
Why did this all happen? Because of communism. But Vox can't be honest and say that. They blame it on corruption. But corruption was the symptom, not the cause.
Calvi
Calvi 26 days ago
Sending love from iceland
Lukas Masnyj
Lukas Masnyj 26 days ago
One word: Socialism
Nb
Nb 13 days ago
Capatalism ruined the country, not Socialism 🙄
Kill all Zionists
Kill all Zionists 25 days ago
One word sanctions.
André Carvalho
André Carvalho 27 days ago
Because of socialism
Genco Abbandando
Genco Abbandando 27 days ago
Often we complain how politicians are always from the upper class, never working class like most of us. Well in history whenever “one of us” rose to power, the result has been terrible. Stalin , Maduro, Hitler, you get the picture. Maduro is the face of the people, we are violent, corrupt, ruthless at heart.
Craig Spain
Craig Spain 28 days ago
The democrat party won't be happy until the U.S. looks just like Venezuela!
Malekith
Malekith 28 days ago
One world Vox, one easy word that you havent on pourpose use in this video even once... Socialism thank you.
Malekith
Malekith 2 days ago
@Arlo Hatcher Sorry what?
Arlo Hatcher
Arlo Hatcher 2 days ago
@Malekith Disaster capitalism referring to the way Capitalist societies take advantage of and consolidate power in times of disaster
Malekith
Malekith 19 days ago
@Angie Enjoys Cheese A like for you wonderful sir.
Angie Enjoys Cheese
Word
Malekith
Malekith 19 days ago
@TrevS61 Disaster capitalism... talking about the most prosperous nation in the world and the greatest empire in history... your definitions dont keep the pace whit what capitalism has done in this world dont they?
pls watch
pls watch 28 days ago
socialism bad, bernie bad, venezuela bad, These are facts, no one cares about ur feeling liberal !!
pls watch
pls watch 18 days ago
Jasser Anoc agreed
Jasser Anoc
Jasser Anoc 25 days ago
If Chavez was alive and found out Bernie is going to tax de people he would fallout. Bernie it's not a socialist, just a social democrat, one of the best economic models of the world, mixing both free market and socialized programs. (sorry for my English)
Winstein
Winstein 28 days ago
This is what will happen if Bernie is elected
二階堂永一
二階堂永一 28 days ago
Si cree que tiene un coronavirus, no vaya al hospital. Porque pueden infectar a médicos y enfermeras. Así que vamos a curarlo usted mismo. El método es ‥‥‥virus Si toma el sonido de 444Hz en su cuerpo muchas veces en youtube, el virus morirá y creo que se curará en 3.4 días. Por favor intente youtube → buscar → 444Hz para matar las células cancerosas?
t1tacal
t1tacal 28 days ago
"socialism"
andrewf0784
andrewf0784 8 days ago
Why the quotes
OH Yeh!
OH Yeh! 29 days ago
vote for bernie?
april Miller
april Miller Month ago
This is what happens when you take away a citizens right to own firearms.
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