Note that Venezuela isn't on the graph because it collapsed so bad that it stopped reporting numbers and was dropped from the database.
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It's insane to think that a country that goes from stability and growth to scavenging food out of trash cans due to an oil shock is a functional economy, even if it were true.
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It is not because of the oil shock. Though it didn't help...
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I know. Hence the "even if it were true."
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I know this is gonna sound alt-right but I think adherence to Marxist ideology has had a great influence in the economic policies of the regime and is to blame for our catastrophe
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If that is alt right then good lord we are lost.
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Venezuela’s collapse has more to do with government malfeasance and ineptitude than declining oil prices.
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Those people stopped following venezuelan politics and economic policy since 2000?
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Am I wrong in thinking that Venezuela is virtually in a state of near-civil-war? That sort of social disruption would do things to the economy. While people will blame leftism or rightism, the problem is prob that leftists and rightists are fighting, not which is good/bad.
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The civil war was caused by the economic collapse. The collapse came first by several years and has continued to worsen.
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Socialism = Failure. Proven over and over and over and over again.
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Couldn't one say that the oil crash was the proximate cause of Venezuela's collapse, but the underlying cause was government policy?
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IT'S BECAUSE OF THE THEFT OF GOVERNMENT LEADERS WHO STARTED OUT AS SOCIALIST THUGS AND BECAME CAPITALIST THUGS INSTEAD
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Venezuela has failed because of Socialism. This has no place in America.
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Also consider the drought and the loss of technical skills to run the refineries.
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I'm guessing all the American sanctions have had no impact as well?
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That's what happens when there's an ignorant lunatic populist running the country.
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Nations are like families. When one or both parents greedily take all the money for themselves, don't pay the bills, and steal from their loved ones, the family ends up starving and homeless.
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