Growing Crisis In Venezuela
Start writing a post
Politics and Activism

The Crisis In Venezuela Is Growing By The Day, We All Need To Start Paying Attention

The adverse economic conditions have forced many people to flee from this hell country.


The problems in Venezuela seem more serious recently. The insane inflation rate which is believed to increase hundreds of percent per day has made the currencies of the country more depreciated and the goods are scarce. Due to the abuse of the last century, in the 70s, Venezuela's oil production rose to the highest in Latin America. It could become almost the richest country in Latin America. However, recently, the adverse economic conditions have forced many people to flee from this hell country.

The results of the economic crisis today sources from Venezuela's socialism and autocracy. Since the presidency of Chavez, the reliance on oil did not reduce, the powerful presidency aggravated the shortage of the resources and increase of economics. His personal expenses from national finance and the waste of resources upset many supporters. The production of oil does not make the country stronger because even though oil production makes people richer, it sacrifices the development of other industries.

The successor Maduro did not save the country's economy. The exacerbation of Venezuela started from the oil's price decrease in the 1970s followed by the cash outflows.

Although the government tried to liberalize the economy, the situation was still pessimistic.

Chavez's policy includes but is not limited to releasing the control of national industries. However, he got involved in economics. He controlled the courts, nationalized the firms, and controlled the foreign exchange system. The socialism brought disaster to the nation finally. Maduro made the country even worse by abusing the military to repress the protests on the street. The accumulated discontent released recently.

The failure of Venezuela, on one hand, owes to the reliance of oil production; on the other hand, the stubborn political system does not give citizens a chance to vote for other candidates. No matter Maduro or Chavez, they are not qualified in being presidents because they lack an economics background. However, the control of certain areas is the most disastrous, because using political power always obeys the marketing laws.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
the beatles
Wikipedia Commons

For as long as I can remember, I have been listening to The Beatles. Every year, my mom would appropriately blast “Birthday” on anyone’s birthday. I knew all of the words to “Back In The U.S.S.R” by the time I was 5 (Even though I had no idea what or where the U.S.S.R was). I grew up with John, Paul, George, and Ringo instead Justin, JC, Joey, Chris and Lance (I had to google N*SYNC to remember their names). The highlight of my short life was Paul McCartney in concert twice. I’m not someone to “fangirl” but those days I fangirled hard. The music of The Beatles has gotten me through everything. Their songs have brought me more joy, peace, and comfort. I can listen to them in any situation and find what I need. Here are the best lyrics from The Beatles for every and any occasion.

Keep Reading...Show less
Being Invisible The Best Super Power

The best superpower ever? Being invisible of course. Imagine just being able to go from seen to unseen on a dime. Who wouldn't want to have the opportunity to be invisible? Superman and Batman have nothing on being invisible with their superhero abilities. Here are some things that you could do while being invisible, because being invisible can benefit your social life too.

Keep Reading...Show less

19 Lessons I'll Never Forget from Growing Up In a Small Town

There have been many lessons learned.

houses under green sky
Photo by Alev Takil on Unsplash

Small towns certainly have their pros and cons. Many people who grow up in small towns find themselves counting the days until they get to escape their roots and plant new ones in bigger, "better" places. And that's fine. I'd be lying if I said I hadn't thought those same thoughts before too. We all have, but they say it's important to remember where you came from. When I think about where I come from, I can't help having an overwhelming feeling of gratitude for my roots. Being from a small town has taught me so many important lessons that I will carry with me for the rest of my life.

Keep Reading...Show less
​a woman sitting at a table having a coffee

I can't say "thank you" enough to express how grateful I am for you coming into my life. You have made such a huge impact on my life. I would not be the person I am today without you and I know that you will keep inspiring me to become an even better version of myself.

Keep Reading...Show less
Student Life

Waitlisted for a College Class? Here's What to Do!

Dealing with the inevitable realities of college life.

college students waiting in a long line in the hallway

Course registration at college can be a big hassle and is almost never talked about. Classes you want to take fill up before you get a chance to register. You might change your mind about a class you want to take and must struggle to find another class to fit in the same time period. You also have to make sure no classes clash by time. Like I said, it's a big hassle.

This semester, I was waitlisted for two classes. Most people in this situation, especially first years, freak out because they don't know what to do. Here is what you should do when this happens.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments