What Actually Went Wrong With Venezuela

You know Venezuela was is in trouble when Runescape gold started being worth more than their currency.

As a Venezuelan, it really saddens me seeing how great our country was before, just to become what it is today. I really hope things get better.

me as Venezuelan seeing this video impact me, this is one of a little list of video's that picture our contry situation with 99,99% accuracy, and me still in Venezuelan soil still living this day by day, its grinding me from inside, and im not in the lowest level of society, so you could imagine our odds here...

I want to see more videos like this explaining what happened to countries like Somalia, Afghanistan, Libya, Syria, Yemen, Central African Republic, etc.

The scene from Venezuela that haunts me most is all the indigenous chiefs processing from "protected" areas to the capital to demonstrate alongside the other citizens. Tribes have been negatively impacted too

Take this video not to dwell on my country's economic fall but to learn not to fall for any "politician" that's always telling they'll give abundance and money to the poor people. No, they won't. They'll only enrich themselves and their families.

I'm Venezuelan. I lived through this slow and painful collapse, saw food dissappear from supermarkets and crime and corruption skyrocket. Everything you mentioned in this video is on point. I'm ashamed of what my country has become and that's why I avoid telling people where I'm from. I was lucky to move to the States a few years ago and start a new life. Thankfully, despite all our hardships, my parents always worked hard to make sure we had something to eat and a strong education, that education has opened me doors outside of the country that otherwise would have been closed, the sad truth is that nobody across the world wants Venezuelans in their land, and emigrating is hard when most countries don't want you.

An important note is that the reason why Venezuela needed to import food is because of Chavez colectivizing farms, which as usual, lead to farms failing and being abandoned and Venezuela stopped being food independent. I also think you are vastly underestimating the effect that forcibly nationalizing industries ( sometimes at literal gunpoint ) has on the economy. Turns out that when companies see that the government can show up one day and decided that everything they own is yours, they don't really feel like investing in your country.

I'm a Venezuelan this is the best video with the right explanations, I hope someday in the future this channel will tell the story of how we got recovered and learned from our mistakes, making a diversified economy and never ever again fall under populism or militar governments. The current situation is that people is surviving and making their life as far as possible from politics. (in my opinion we can't keep ignoring politics and at some point we need to take actions again, we also need better leadership to start doing that...)

2:43 No wonder that man is so sad: he's about to eat soup with a fork

This is a pretty accurate description of everything that happened to Venezuela. However, there are a couple of key points that should NOT be forgotten: Venezuela's top officials are wanted by international authorities for being involved in one of the top drug rings in the world, mass protests in 2014 and 2017 decimated opposition by the national guard jailing and killing hundreds of students, and Venezuela's current debt surpasses anything you could possibly imagine, as China has established a pretty predatory purchase of most of the systems, companies and machinery to actually mine resources. There's no such thing as separation/division of power in Venezuela, as every single branch of government is picked by Maduro and top officials without any sort of input from citizens, INCLUDING the electoral branch which is a govt division literally run by the government, so every time they proclaim to win an election, they don't actually need to prove it, they can just say they won and citizens can either take their word for it or protest and go to jail/die.

I'm honestly impressed by how accurate this is. This was spot on.

My dads from here, He said it wasn’t as bad as a child and when he got older it slowly got worse

Any other venezuelan here remember back in like 2016 when stores were like completely empty and you couldn't even find flour or toilet paper to save your life? Yeah that wasn't fun...

I really hate to say this, but this is happening more and more. The Inforgraphics Show, does a better explanation of the facts than any news service you can name.

2 points: 1)Wait until we are all driving electric cars and you cant give oil away. 2)Alaska, Norway and SArabia used oil profits to set up mutual funds for their citizens when times were good. Now both places write checks to their people yearly. But Iran, Venezuela blew their money.

Unfortunately, there isn't much unique in Venezuela's situation beyond the over-reliance on a single commodity. Other countries have been only slightly better protected against and less quickly dismantled by unrealistic expectations, populism and overall inconsequence.

Venezuelan here, make no mistake that military dictatorship that ended on 1958 was the most prosperous time on our country history, the dictator back then Marco Perez Jimenez left institutions and the best infrastructure that is still standing to this day, our money back then was worth even more than the US dollar for a time, he was replaced for a extremely corrupt bipartidism political system that destroyed everything he did and created social unrest, that social unrest let to people voting for Chavez because they wanted to go back to the good old stable times with a military leader, but people didn´t saw his socialist tendencies, he was elected and slowly transition the country into a socialist state stealing billions of dollars in the process...

My wife is from Venezuela. She has told me about the brutality, suffering, and how the hyperinflation ruined the nation. Yet I still want to visit the country.

As fascinating as it is to hear about how economic and societal collapses like this happen, like watching a plane crash in slow motion, it saddens me to think how many people like myself have been left ruined with no clear way out of their situation. I hope that someday soon the people of Venezuela can rebuild for the better.