Unlike an earthquake or weather disaster, the effects of an economic collapse are felt all across the nation simultaneously, even around the world. Everyone living within the borders of the collapsing nation is hamstrung, with very few in a position to give any help.
If you haven’t been paying attention to Venezuela’s economic slide, you may want to start. Since the rise of the socialist government in Venezuela, beginning with Hugo Chavez, the controlling regime has become more and more totalitarian. Now, it’s a full-on police state…
Despite having the world’s largest oil reserves, the socialist government in Venezuela has succeeded in wrecking the nation’s economy and destroying the value of its currency, the bolivar.
As the government prints enormous sums of money to pay for its deficits (sound familiar?), inflation has reached disastrous levels, 54.3% per year according to USA Today. The result has been rising prices, which President Maduro blames on what he calls the “bourgeois parasites.”
In America, we call these folks “middle class business owners.”
What’s Maduro’s solution? Price controls. He’s threatened retailers with prosecution if they don’t sell their wares for what Maduro calls “fair prices,” usually at a steep loss to the retailer.
From USA Today:
National guardsmen, some of whom had assault rifles, were positioned around outlets of an electronics chain that Maduro has ordered to lower prices or face prosecution. Thousands of people lined up at the Daka stores hoping for a bargain after the government forced the companies to charge “fair” prices.
“I want a Sony plasma television for the house,” said Amanda Lisboa, 34, a business administrator who waited seven hours outside a Caracas Daka store, similar to Best Buy. “It’s going to be so cheap!”
Ladies and gentlemen, Venezuela has become a socialist police state, compete with government sanctioned looting and riot cops. Watch the video below as Venezuelans line up to pillage a DAKA electronics store (similar to Best Buy) in Caracas.
Today they pilfer an electronics store, tomorrow… they may be reduced to looting grocery stores. The entire nation of Venezuela is facing a toilet paper shortage, thanks to Maduro’s government. Toilet paper has been rationed (See Video Below):