The collapse of Venezuela, explained
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- čas přidán 24. 08. 2017
- 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/2017/5/1/15...
Sources:
0:56 tradingeconomics.com/venezuel... , tradingeconomics.com/venezuel... , www.imf.org/external/datamappe... , en.wikipedia.org/wiki/Crime_i...
www.reuters.com/article/us-ve...
1:25 www.scribd.com/document/35498... (Page 22)
www.datanalisis.com/
1:54 www.wsj.com/articles/maduro-s...
3:27 www.eia.gov/todayinenergy/det...
3:44 commons.wikimedia.org/wiki/Fi...
4:00 www.economist.com/news/financ...
4:40 www.cato.org/research/trouble...
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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: czcams.com/video/NU0RqwweuWY/video.html
The us and Canada just recognized the opposition leader as the interim president of Venezuela!
Pro US propaganda video!
All of Venezuela's problems are due to the USA. The USA does not like nations where the people (via the state) own the nation's natural resources. The USA even has special military operations working in Ven for years to destabilize the country. Not to mention special economic sanctions against Venezuela
So socialism creates a system where it makes you more prone to failure in financially hard times, good to see your learning something Vox.
Is it me or do these people look pretty well fed to be starving?
Theres something seriously wrong if the currency has less value than V-Bucks
In December 2019 Venezuela's inflation (in average consumer price change per year) was at 200 000% (two hundred thousand).
The year inflation was over 1 500 000% (one million and five hundred).
Rensi they are still hard at work farming RuneScape gold. A high level player can make up to ten dollars an hour by farming and selling gold. This hourly rate fluctuates with the value of RuneScape gold. They can expect between 2-10 dollars an hour based on the methods they choose.
Making ten dollars an hour by farming gold requires a huge amount of in game start up capital, and lots of knowledge about the game. Two dollars an hour is more realistic, but I’m sure there are Venezuelans that farm end game content and make nearly United States minimum wage.
It’s actually quite interesting because the huge influx of Venezuelan farmers has injected ludicrous amounts of currency into the game. Basically the real world inflation has drastically inflated the economy of old school runescape.
Vietnam: Hold my beer
100 v bucks is like 1 dollar so yeah 😂
V bucks are overpriced
You know your country is in trouble when Runescape gold is worth more than your currency.
They make 👛 purses out of their currency
its not funny, I remember when I was young teenager Caracas was my dream place where to travel, I always wanted to go there, now I just feel sad for this country , I watched documentary how money literally isnt worth anything people give a cigarette or cookie if they buy gas , terrible
@@HK-gm8pe sorry but is true. Even Doge coins worth more then the Bolivar
Phlebotomists R US, And Doge Coin
Hans Ruperts you do know that money isn’t backed by gold anymore but by the US dollar.
I’m Venezuelan in Canada and this is basically why I moved, my whole life has changed due to one man’s need to stay in power. Not only my life but 30 million people’s lives as well
@@joekyle6959 and probably 3rd party nation trying to intervene in the country also. Most destabilize countries around the world got ruined because of outsider's interference.
@@joekyle6959 almost no one voted for him it was a rigged election and everyone in Venezuela everyone knows that
Stay.
@@joekyle6959 Nobody chose Maduro, it was Chavez who did.
Live good eh?
I'm venezuelan i move to philippines with only couple of bucks lift in my pocket only good for several days and my life change when i met some good friends they invited me to their province to work for them as a caretaker of farm and year later i get married with my beutiful wife and have a son. To all my fellow venanzuelan out there you deserve better, i hope y'all safe outhere may god bless our country. 🙏❤️
nice
From the Philippines, hope you're doing well, stay safe especially if you're in Luzon.
thank you for your work
Where in the ph are u now
"may god bless our country. " go back then
Everyone who’s not from Venezuela and still send us love. As Venezuelan I would love to thank you for praying for us and thank you for actually knowing what is going on in my country
Seems praying won't be enough to save Venezuela from it's downfall, your best bet is to ask Colombia for an annexation...
Im Venezuelan too, from Barquisimeto. I feel u, mane
@@transforgoku They do share a culture, though that's not the only factor for a successful union(had any union occured since the second world war?)
Traitor or troll?
come to america. well just sneak you in if we have to lol
I remember when i was 4 i thought why do poor people exist, just print money for everyone
Unfortunatelly, printing money will not bring more, it will just make its value more worthless. That happened in Germany during the Interwar period before the Great Deppresion.
It seems then that you were born ready to serve as Venezuela's president
Everyone at age 4 to 14 thinks that way, you did, I did, everyone did. It's only when one gets older and wiser and looks at data and evidence honestly that we conclude that free markets work and printing money doesn't work. Socialism, Communism, Green New Deal, none of it works and leads to poverty and want. Just look at the data. Exhibit 12,658 - Venezuela
The more you print, the less it's worth.
that's how Bernie thinks today
Germany: *prints money and spirals into depression*
Venezuela: oh boy what a good idea
This is the same
But then Germany faced the great depression and that gave the opportunity for the rise of Hitler
This is the same time , Venezuela is facing financial problem and corona virus is also spreading
Is it a coincidence???
@@confusedsoviet5937 Venezuela is in financial crysis since Hugo Chavez in 1999.
@@saricubra2867 but I heard Hugo Chavez reduced Venezuela's poverty and unemployment rate from 70% to 30%
@@confusedsoviet5937That's a lie by the government.
This is so scary and so sad. My heart goes out to those poor citizens.
Rich*
@@HoussamNekkaa "rich"
@@kiwuuspurr1927 ''poor''
@@HoussamNekkaa "economically fortunate"
@@kiwuuspurr1927 '' humans'' ?
i live in Venezuela and am in the second largest city, maracaibo. 30 years old. there is literally anyone my age anymore, from a group of 30 friends. Only 5 remain. Venezuelas future left the country.
Yeah I’m from southern Brazil, almost 3000km away from Venezuela and I know some Venezuelans that came here
It’s really sad what’s happening, almost 15% of Venezuelans left their own country 😔
Muerte al socialismo
I thought all the young people vote for socialism though? Then they flee when reality sets in?
@@aplacetobewithmythoughts7428 I guess that's your problem, you thought wrong. You also don't understand the issues there & just decided the evil boogeyman of socialism caused everything. It'd be nice if you could simplify it like that, but that's not reality.
@@humanbeing3731 It would be naive to think capitalism isn’t setting itself up for its own ruin in the future. Capitalism isn’t any more sustainable
I left the country when i was seven. I remember going to one if my moms friends party's who had also left the country and she said (in Spanish)"Just give it three years and it will all get better and we can go back." Its been almost five years and its only gotten worse..
And ...worse
And worse..
And worse....
I would just stay where you are. Almost anywhere is better than Venezuela.
1. I would stay wherever you are.
2. You just admitted to be 12. IDRK, but.
I have a friend who was born in Venezuela, he oftenly talks about the situation in Venezuela whenever we have a little talk but im just glad he lives in my country now
That's great, man. Where does he live now, if you don't mind me asking?
@@gabrielirvine3961 Indonesia
@@nox9708 That's great man.
@@nox9708 That's great man
@@nox9708 That’s great man
Not from Venezuela, never been there as well, but I feel extremely sad for it's people.
I remember i was in high school 15 years ago and my english teacher honeymooned in venezuela.. she was paying in dollars.. and in some instances the dollar was so strong they would give her back the dollar because they couldnt break it down far enough to give her change..
You know something is wrong when the paper of your currency is printed on is more worth than the currency itself.
when you can sell al the money printer for a good chunk of the economy's worth
I mean that's true. But 1 cent coins are worth more than 1 cent so we need to deal with it fast
Why does their president looks like Saddam Hussain?
It all makes sense now
MM MM Ok then, boomer.
EDIT: Hopefully you managed to escape. Boomers in the area can cause problems.
HM MM MM MM MM MM MM MM MM MM MM Did someone ask for your story?
MM MM First of all, the OP said he looked like Saddam, then I made a simple joke, then you told your whole life story for no reason. I bet your fun at parties.
LOL He deleted the comments
I asked a Venezuelan expat in my country what he thinks of the situation in his country and if it was really as bad as the media portrayed it. His reply: "Worse!" 😓
Un abrazo a los venezolanos desde India. Tengo un amigo venezolano que me ha explicado toda la situación allí. Les deseo lo mejor 🙏 Cuídense
a hug to the Venezuelans from India I have a Venezuelan friend who has explained the whole situation to me there I wish you better take care of yourselves
English translation ☝️
El mundo debe saber lo que pasa, tienes un buen corazón y bonito mensaje 🥺♥️
Yo tengo otras amigas en venezuela y la pasamos bien
Netflix will make a series out of this crisis
Hopefully!
Latin American TV already has done on Chavez.
Zainuddin Da Silva yeah
legosheet in Venezuela they ban the serie
Zainuddin Da Silva inderdaad robby
I remember when I first immigrated from Venezuela 12 years ago. I was 4 and my dad was working hard for everything we had since the government had just taken his land. I moved here with my mom and my sister when my dad couldn't and 4 years later my dad was able to finally come. 1 year ago my dad became a United States Citizen and 6 months ago my cousin and her family came after my other cousin died when he was protesting. It made me remember the struggle me and my family went through and it helped me appreciate how lucky I am to be in the United States.
A round of applause for socialism 👏👏👏
same, I came here when i was 4 as well and i’m glad to be here. even though we have our own issues, they don’t compare to Venezuela :(
Welcome to the USA enjoy!
Yeah and now you or yours children like in Cortez case will require socialism here.
Me too kid....
What a shame for Simon Bolivar
Ikr
he would be disgusted to have socialists use him as a martyr
@@sonofsanto No, he would have been proud.
These third world countries have always lived like this for thousands of years, by the way, under Capitalism Venezuela was one of the richest countries in Latin America, until the 1980s, until the Left parties came to power and destroyed everything.
@@user-jx1ps1bf5p Wrong
Venezuelans: elects socialists to reduce income inequality
socialists: *makes everyone equally poor
*MISSION FAILED SUCCESSFULLY*
hugo chavez was a socialist tho
This isn’t socialism
@@dgrhbybfgbj5751 then what is this? communism?
@@dgrhbybfgbj5751 Yes, it is very much socialism.
The practice of redistribution to welfare is not the cause of inflation. Their economy was dependent on oil and oil prices fell crippling the entire system. Apart from that, they have authoritarian leaders terrorizing the opposition along with immense corruption to destroy the democratic process.
*Venezuela has the world's largest oil reserves. Looks like Venezuela needs Freedom!*
Patrick Peterson yea, i cant believe the US hasnt invaded yet. its a way juicier target than north korea
B Dean they tried once during the Obamas administration. Saying that Venezuela was a "high and unusual threat to the us" but the neighboring countries put pressure against the US making the pentagon take back that allegation.
Some years after the Brazilian coup sets in and temer became president in Brazil etc.
Do not forget the proxy coup in the 2000s that put Carmona in power but was deposed by forces loyal to Venezuela that put Chavez back in power
oh veyyyy!
" its a way juicier target than north korea"
Exept it isn't, venezuela's oil extraction price is insanly high, at those price range it simply is more worth to massivly invest in renewable energies.
Here in Colombia we are feeling the damages, people of Venezuela is escaping here asking for jobs or selling things on the public transport, i don't think the people on the comnents (in the USA) can remotly feel all the impacts; you can know the facts but nothing near like the reality
(Edit: I made this comment 2 years ago and have no idea that there was so many likes and comments, wow thanks, but some people down below misinterpreted my word, some of you tried to explain better the situation, so, I hope people reading this comment now can learn a little bit more)
gaby perez sadly What you say is true. My people is escaping this nightmare, and living like refugees in neighboring countries, like yours. Please, be kind to my people (unless they do something wrong).
Be kind to them, help them. God knows we took in thousands of Colombians and gave them a home.
Ayuda a nuestros hermanos.
Yes. My country is crumbling. And here in this video says nothing about how hard is to get food. You have to wait hours in a line, and pay almost 10% of your salary for a 1k bag of corn flour. We all have lost weight, feeling weak. My work is related to education and what breaks my heart the most is to see kids fainting because of hunger.
I'm from Kenyan, and i just want to say sorry for the pain you're feeling right now. It also breaks my heart to hear you talk like that. Kids should not suffer in that manner. If you want, i can spare $10 dollars and send it through the best channel. It's not much, but it's something.
gaby perez I agree. I am an American but that has nothing to do with the devastating things happening in countries like Venezuela. The people on the streets being interviewed were so helpful in showing what the regular people are feeling. They seem so tired and frustrated. Trying to use this to push a political ideology is distasteful and misses the whole point.
I admit I don't really have a clue what things are like for people in countries like that but I know there are still many Americans that would love to try.
That's why you don't depend on oil for the economy
Yup. But the blame is on the country leader. They should diversify the economy during good times. But nothings too late, if the current leader realize and feels sorry for the country.
@@krokodailhanter A dictator feeling sorry? Who's ever heard of such a thing?
Most Middle Eastern countries depend on oil for their economy.
Why do they succeed?
Oh yeah it is because they are a free market economy
@@shalyfemusic It's not just that, they invested a lot of oil revenue into infrastructure projects and sovereign wealth funds. Those countries know from the 1979 oil glut that the market can be volatile. So they keep huge wealth funds to tide over bad times. I don't know why Venezuela missed that important lesson.
Who else just clicked on this video to see people debate socialism in the comments
i clicked wondering why the people of Venezuela havent risen up and taken back their country what are they waiting for?
@@hturt4gnikool they’d get crushed that’s why
I am in the middle of watching on CZcams, 5 Socialism Myths by John Stossel. In that video, they insist Vox is red herring viewers who watch this video by blaming the Maduro government's failure to adjust to sharp oil price decline as being one of many ingredients in a recipe for Venezuela's disaster, but never once utter the word, socialism.
I'm looking forward to a Venezuelan revolution: OverSimplified video
"This enraged Maduro's father, who punished him severely."
OVERSIMPLIFIED GANG
“The Brazilian Venezuelan war oversimplified”
Me to lol🤣
"Here Venezuela, you get revolutionary ideals" - France
You have to admire the Venezuelan people for their ability to suffer such, hardships, injustices and obvious corruption because they still believe in democracy. In most counties it would resulted in a civil war. So respect the Venezuelans. They need help but have not lost their principles.
Are you sure its still a democracy?
Majin Gamer . In terms of how elections are run. No. But in terms of what Venezuelans believe in. Yes. Maduro will fall. Hopefully Democratically.
@@Iguazu65 How can you democratically remove a dictator?
@@manamark4754 Through "Democratic revolution."
@@manamark4754 The problem is that even if the whole country votes no, the president is going to cheat and say he won.
I wish good luck to all Venezuelans and the country of Venezuela. Love from the United States! 🙏🇻🇪🇺🇸
Thanks you
I’m a venezuelan in the US, my parents moved to the US right after I was born in Maracaibo. Although i live here in the US with a comfortable life my parents still support the people in Venezuela, we used to send boxes with food and supplies. We still have family there, and we do everything we can. I’m glad people bring attention of what is going our country although there are larger news out there. A todos mis hermanos y hermanas, siguen luchando. Los amo y tengo una esperanza de que todo esto se va a terminar.
Gracias/ Thank you 💕💕
hi! I'd like to help out the people of Venezuela. Can you tell me how to ship things like food and clothes? Or do I need to know someone there? I've been to Colombia and I've seen how badly the Venezuelan people struggle.
@@zerocal76 We usually sent things to family that was there but I’m sure there’s a way you could send supplies and food without having family there. We would send mostly dry foods like nuts, canned things, rice and etc. That would go in cardboard boxes and yep that’s pretty much it!
I've literally never seen Lele Pons discuss or raise awareness on this issue.
She can't locate Venezuela on a world map.
?? Well she's a comedy channel and she might be traumatized or ashamed to talk about venezuela
@@coronavirusokboomer9537 She has an astounding following which could make a difference. She may be traumatized but the people of Venezuela are even more traumatized.
@@tarvingill1777 k
she would rather say Black Lives Matter
The situation in Venezuela breaks my heart.
Is the reality us Venezuelans live in...
@@lilianadacosta8477 :(
@@lilianadacosta8477 Estoy contigo chama
Back in early 2000, I was working onboard an oil tanker ship named Proteo. I used to envy Venezuela. I thought to myself then that if only the Philippines has this much oil, our people's suffering would definitely end. I feel sad for Venezuela. I hope the country will recover soon.
It does mine too. There doesn't seem to be any solution though.
this is why you don’t let the government run everything
@frank anderson The United States is also an oligarchy, most elections in us are decided by the amount of funding each candidate gets, It has the highest number of billionaires common!
@frank anderson is Russia a oligarchy?
@frank anderson look at what deregulation got Texas
@@piadas804 it is.
Don't you have a Trump rally to attend with the rest of your fellow inbreds?
Chavez: LETS HELP DA POOR
Maduro: gimme that money chavez
unrestricted socialism is small brain
From the video the crisis it´s mostly the drop in oil prices that made unable social programs and the rise what made it too
Imagine not blaming socialism itself for allowing this to happen
Chavez was also corrupt
These third world countries have always lived like this for thousands of years, by the way, under Capitalism Venezuela was one of the richest countries in Latin America, until the 1980s, until the Left parties came to power and destroyed everything.
I am originally form Venezuela, and let me say that he "spending billions" on healthcare and education might be true on paper, but most of it didn't go to the right places and it was mostly divided among politicians, so very little went to those who needed it. For example, he spend millions on many small apartment complexes we call "urbanizaciones", but most of the projects were left in an unfinished state due to lack of money. SOme of my friends went to Venezuelan public high schools, and I did some social work in public middle schools, and it was very depressing to see that the condition of the school was very bad, and professors were earning next to nothing. Venezuela was already in pretty bad shape when Maduro came to power, it's just that high oil prices were helping cover a lot of the pretty bad stuff that was already happening, but it was literally akin to putting a band aid on a gunshot wound. An example of this can be seen when he made the "bolivar fuerte" the new currency in our country, which he took off three 0s, it didn't help at all as literally inflation just put us back to the same spot a few years later. It is true that he was very charismatic, but he was very unpopular during his last re-election campaign, and most people consider that election to have been rigged as his political party had control over the election process (This was when he went against Capriles). Honestly, Maduro is doing an even worse job than Chavez, and oil prices being low is really not helping him at all, and if we go back further it is the fault of all of us for having allowed corrupt politicians to take power which in turn resulted in the low socio-economic venezuelan class to have been neglected, filled up with anger and resentment that was just waiting for someone like Chavez to come and take advantage of it.
no hay colapso...
@@ahmedbolbol9243 inta asmar
Someone who finally said it! Yes, Chavez was popular for several years among Venezuelans, but during his last years, most people already knew that things were getting pretty bad here, since he just spent money here and there during the expensive oil years, but once the oil prices went down... Party was over in Venezuela. So, yes, almost nobody likes Maduro, but Chavez wasn't that popular before he passed away either.
United States is on this path
This is happening in the United States
Sad how World of Warcraft gold is litterally worth more than a country's currency...
Cof cof *runescape* cof cof
Not really
Alejandro Padilla really
Chucky E cheese tokens are worth more
Never trust party with "Democracy" word in party's name.
as a Venezuelan, thank u so so much for making this,
Are you still in Venezuela?
Such a sad thing!!! There are hundreds of them hiding in the forest eating only mangoes in my country Trinidad, they come for help, our people say we can't help them, we already have our problems to deal with. I am sadden because what if it were me? Running to Venezuela for help...my kids, my family? I am soooooo sorry. Mi amigo JACKSON n familia are always welcome.
Angel
I wish everyone in Trinidad was like you 🇹🇹❤
Beautiful person 🍒🥑🍑❤️
of course we could help them, we could help them easily. the state just doesn't care,
don't be naive
@@shady8045 speak for yourself and when spoken too, I don't care about the state, I do my part, as you can clearly see at the end of my comment that there are those who are close to me and whom I have assisted. So move along now
*Haiti loves you, Venezuela.*
Stay strong.
Let's keep each other in prayers.
Long live Amaru. Serbia+Haiti*Venezuela, all living under extreme harsh conditions with USA doing their best to destroy us to the ground
I really hate Donald Trump and what he is doing..I'm sorry for Venezuela and every other country suffering because of Donald Duck..hopefully it gets better soon and fast. I live in a state in the USA (Mississippi) and it is one of the poorest states in America we barely even get noticed especially during hurricane Katrina we barely got help but we stayed strong
I'm from Haiti and I definitely love you Venezuela. Also I love the Colombian people for taking you in.
Cuban here supporting Venezuela 🇨🇺 🇻🇪
I mean Serbia kinda made ww1
Looks just like what’s happening to the USA
We are experiencing a second red scare in America. I hope that one day america can finally put people over profit.
God help Venezuela 🇻🇪
Love from Kenya 🇰🇪
More love from KENYA.
Which God?
ENDtheFED2012 Obama is half Kenyan.
God seems to be taking really good care of Syria and Afghanistan.
Yes and Social media isn't helping the truth. U.S. economic sanctions have stopped Venezuela from issuing new debt and blocked attempts to restructure its existing debt obligations. Imagine if other countries did us like this during our financial crisis in 2008. czcams.com/video/S1gUR8wM5vA/video.html
Inflation about to reach 1,000,000% - July 2018.
1 U.S. Dollar is currently equal to 172,450 of the Venezuelan Bolivar
Let me guess
The money is cheaper than buying an actual toilet paper.
Muhammad Nazrin yup. That money isn't worth the paper it's printed on. Here in Colombia if you find a Venezuelan you're doing him a favor if you exchange all their money for a coin or two. Their bills are worth more when sold as a symbol of charity or because of their design since they got Bolivar which is also our independence leader. Their highest denomination bill is worth our lowest denomination bill at the exchanges, and our lowest denomination bill is worth less than a fifty cent USD coin.
Venezuelians elected that man and not another. This man won all last elections.
American people want to choose the leaders for their interests.
US = dictators of the world not for long.
US punish population economicaly despite problems of nutrition ! Murders.
I m afraid of americans. God bless america. (d bowie)
Joshua Rathbun Actually, 1 U.S. Dollar equals to 4.400.000 BsF.
Vox didn’t even cover the impact of socialist policies
This is not real socialism.
@@HigHrvatski bruh what is it then? Business is appropriated, what else you need?
@@nsa3679 Ask Vox. To them even though socialism always ends up oppressing the population that's under it, it becomes "not real".
@@HigHrvatski oh) i got fooled that you r pro-socialism
@@HigHrvatski Hahahaha lol brate za malku mislio sam da ke dignesh Tito karta. Socijalizam nikad ne radi.
This is what happens when society prevents good honest kids from going to politics and say politics is for cunning bad guys.
Did any of you saying that "Vox didn't mention how socialism ruined their economy" actually watch the video? They clearly said Chavez spent more than he should on welfare. It feels like people try really hard to be extreme leftists or extreme right and never listen.
issa osama I watched the video twice because I knew I missed some details. People don't understand how to listen, which is often why you hear people repeat themselves, so that the the people who don't catch it still hear it.
issa osama Vox left out the important stuff. Head over to visualPOLITIK they explained it way better
issa osama Because welfare expropriates private property and gives it to the government right?
Confirmation Bias.
DynamicUnreal are you just looking for something to be pissed off about?
It's almost as if oil can't save you from everything
Oil has brought these problems to Venezuela in the first place. The USA will illegaly sanctionize Venezuela until they break. And then the USA elites will profit on the privatized oil. Just look at Iran, Irak and Syria. USA illegaly violate the ban of violence in the UN charta.
@@david.p240
Blah, blah, blah
@@david.p240 don't make this the US's fault
hiphoppolice115 don’t act like theU.S. Is the only country in Syria... don’t forget the Russians and 5 other countries too and soon to be the Turks in a few weeks
Skye Walker lol the United States has documents detailing how they will destabilize Venezuela and commence regime change. 20 year old documents we saw come to life last year. Good thing they failed.
May GOD Bless to all Venezuelans❤️ Stay safe!
Whatever collapse Venezuela suffered when this video came out 5 years ago, Maduro is still ruling the country now.
God help our brothers and sisters in Venezuela 🇻🇪 all love & supports from Indonesia 🇮🇩 🙏🏼
The US is going to intervene soon
Thanks!
USA will help Venezuela only once we get our oil
God help Venezuela 🇻🇪
Love from the Philippines 🇵🇭
No to CPP-NPA terrorist and its Legal fronts!
Incoming atheist
Danex Pinoy Ex president cursed Israel. HUGO Chavez curse the country of Israel on live TV. He died of cancer few months later. Their King challenged God and this is the consequence. Venezuela will never me significant until they repent.
Danex Pinoy love you too
there is no god...only trump can help them. he already offered to invade and finish maduro and set the people free.
its the only viable option unless the people actually manage to do it by themselves
My country, Lebanon is in an economic crises so similar to Venezuela, we have a huge inflation and our currency is losing it's value daily, electricity, medicine, gasoil.. and litrally anything is in deficit. It's extremely sad
I am so so sorry!!! Try and get out now while you still have time. Come to America if you can legally, I promise if you set your mind to it you can do it! You are a warrior and I believe in you, with god we can accomplish ANYTHING!
i wish you guys could do something about it now because in the long run when people grow complacent and tired of talking about politics bc seemingly theres nothing to be done, i think they will get stuck and truly lose (obvi easier said than done but its what happened in my country). ANYWAYS, this is really sad and i advice you to study very hard and seek any program that lets you study/work abroad in the long term, people should use google more! Best wishes fr :``)
"everybody wants to rule the world, but not everybody had the skill to do so"
Except Lee Kuan Yew. If all politicians in the world are like Lee, the world would have been a better place.
God Help Venezuela 🇻🇪
Love From Mexico 🇲🇽
Help your own country. Lots dying of hunger. Getting killed with the narco culture.
81coollambo that’s a long term maybe decades of fixing this crises can be fixied anytime if people come to a agreement n narco trafican can’t that’s a generation fight
Venezolana always welcomed in Mexico
Wth..... Pray for your own country as well. Geez.
@@FireMan378504 your country loves the drug cartels and have for countless years. Payouts for everyone wether government officials down to the average citizen..... All while take US dollars to "help the fight against the cartels" but really just pocketing it...smh
I'm from Venezuela and I left the country because of maduro
What about Chavez ?? Maybe even Chavez was not good enough for you. You should migrate to North America and be there happy forever..
Somalis know how you feel. We all love the Venezuelan people and we all wish we could help you 😭💔
Was it because of Maduro or the sanctions USA imposed on Venezuela and the secret war they are doing against you?
Bro. This is all America evil doings: America put sanctions on Venezuela because Maduro kicked all the oil companies out of Venezuela. America wants to own everything in the world. America needs Venezuela to boost her economic because America is being used by Saudi Arabia. America signed a oil deal with saudi Arabia in the 80s n now they are trying to get out of it
@@FilK79 im from Venezuela. I live in Brazil now, it's because of Maduro
People remember, never trade your freedom for security, you'll end up loosing both
I love how Vox never mentioned Socialism for one of the reasons why Venezuela collapsed.
iPhone Venezuela bottom text 100 Million dead
I like how clueless liberals like yourself always regurgitate "muh socialism" without any context. For one, Venezuela's economy is more than 70% in the private sector. Obviously private property is not a feature of socialism, and the rate of which the private sector has run hasn't changed much since Chavez's presidency. Also worth mentioning are the embargos against Venezuela (similarly Cuba). I'm not trying to defend Maduro here because by all means he is an authoritarian but... big shock... there is c o n t e x t.
@@thatoneveryfunnychannel2482 Literally, they are not worst cuz private businness, no big company trust Venezuela
Most oil rich nation on the planet yet doesn’t have one single oil refinery. This is madness and must be by design.
The wonders of socialism
@@eduardoa3165 Venezuela isn't socialist lol
@@pixel6698 wdym? The government controls 50% of the economy.
@@oooooooooooo2794 where did you get that number? The economy was rapidly privatized by Madero.
@@eduardoa3165 its not socialism thats the problem..its people from other countries who want to exploit them..China owns its resources but because they can back up their claims they can prosper
This is so unfortunate. The inflation is unreal. Nobody deserves this.
Love from India 🇮🇳❤️
Same
Also save India form rahul Gandhi's welfare program
They just too depended their income with oil export, and everything gone wrong when the oil price has fallen
Nobody deserves socialism
everybody deserves socialism
Nothing to do with sanctions and artificially deflating oil prices by saudis to drop the price to hurt vuvuzela? Always the what but never the why.
Sanctions came in late in the game. And the Saudi government manipulates oil prices the same way Venezuela does since they're both a part of OPEC.
Sanctions came in way later. Venezuela started a price war with saudi Arabia, it's not the kingdoms fault if someone doesnt comply with the rules
Sanctions came later, Venezuela cooperates with the Saudi regime in manipulating prices and basing your entire economy on one activity would have destroyed their house of cards in a matter of time anyway.
“His unrestrained spending lead to a growing deficit, which meant all these social programs would be impossible to sustain” sounds eerily familiar to the United States current fiscal policy.
serious questions, why do the soldiers even follow the leader that the majority of the people wanted removed?? They are people and they can think too, so why not?
Those people wanted socialism, they got it. Now they have to face its predecessor, Communism
kamara ssakka brainlet comment
kamara ssakka there is no govt in communism lol
@@blackgold754 because true communism cannot exist. As people are driven by greed and will try to get the most of produvt and money.
Communism needs gov so ppl dont fall into capitalism
Maxoto no it can. If u wanna talk about greed we have it right now yet it still exists because of the economic rig and oligarchs and corruption in capitalism lol
This video hardly touches on Hugo Chavez and his impact, it seems to show him in a very positive light when in reality he was the one that started all this through manipulation and the 1999 constituent assembly which wasn't seen as a valid method of rewriting the constitution. Chavismo was not touched on at all and truthfully Maduro only followed on from the corruption left by Chavez. Probably worth another video.
It sounds if Chavez lived a few more years then the people would have saw through him. Unless i missed it
Noza HeyZ Exactly. They make it seem as if this just happened out of nowhere, ”oh well.” 🙄
They should do a episode called “The man that robbed the world” and put Chavez as the subject 😂
This is totally false, they mention in the video that Chavez used the surging oil prices to benefit the people, but didn't do anything to diversify the economy for if oil prices dropped. And then go into the results of that. Everything isn't some socialist conspiracy.
As a Venezuelan, thank you for this comment. I won't waste my time watching this video then.
As a young Venezuelan outside of Venezuela, I am quite saddened to see my once rich country turn to turmoil.
You know things are getting worse if your leader looks like stalin🙄
Because how someone looks is a perfect way to analyze who they are.
@@sadiereiss6397 His actions are what matter, and they are evil.
Stalin would never get the USSR this bad, just saying.
The Latin American Stalin
Margaret Thatcher once said that "The trouble with Socialism is that eventually you run out of other people's money."
Yep true. Ask the financial institutions bailed out during the 2008 Financial Meltdown. Socialism for the rich and capitalism for the poor. Let the Iron Lady rust in peace.
Let her rust in piss.
Yes...it's a great Bumper Sticker line, but it has little to nothing to do with what happened in Venezuela. Did you even watch the video? Corruption is what has crippled Venezuela, and that was rampant prior to Chavez in the CAPITALIST system. Crony capitalism and corruption caused the people to elect a strong-man who said he would make the foreigners (Europeans) go away and make Venezuela great again. So the first thing Chavez did was seize the system of checks and balances (well before the vote of the people the film mentions) and then go on the attack against foreign interests, seizing their assets and calling it socialism, but it wasn't socialism....it was punishing rivals by stealing their livelihood. Chavez said the media was part of the conspiracy and that the people shouldn't trust them. He published an extensive enemies list. He said there would be riots if his initiatives failed or he got voted out. He made outrageous claims and called his rivals vile names, often giving daily reminders of anything that crossed his mind via his own personal media outlets. While lining the pockets of himself and his friends he gave away Venezuela's fortune and now Maduro, stuck with the check is trying to do the same thing but it isn't quite working. Socialism didn't kill Venezuela. Populism and corruption killed Venezuela and now it's here in the U.S.A.
Chris, it makes me feel better to see that some people actually think instead getting caught in some cheap slogans. Cheers from Poland (i.e. yet another country where populism has won recently).
Margaret was the best leader Europe ever had. She would not support any bail outs for rotten corporations but rather let the market do its job.
0:50 "Highest inflation in the world" *Zimbabwe wants to know your location*
The video was made at 2017 and still Venezuela it's the country with the highest inflation in the world right now.
He never mention "this has been the highest inflation in decades in all the world"
Junkystuff 36 *Post WWII Hungary would like to know your location*
African dictator regimes with corrupt governments: We have the highest inflation in the world
Prospering south-american democratic country: Hold my beer
Junkystuff 36
That's an old story.
@@CommunistfromJapan Kim Il-sung is an old and dead leader.
There's a lot of dictator around the world, but most of them still care about their citizens and make their country advanced and develope. Like Singapore, Saudi Arabia, UAE, Brunei etc. But a country like Venezuela who rich in oil, while their citizens and economy is in really bad shape after ruling for almost a decade, is the worst kind of dictator. This is the reason i hate a dictator in African country more than around the world.
the power had blinded him
Question for Venezuelans in the comments... when I hear on the media "It is because of socialism that Venezuela is poor" is that true? Or is that just American media trying to oversimplify why the Venezuelan ecomonomy crashed and use the word "socialism" as the cause?
@Sal Santiago oh ok so it wasn’t “because of socialism” that Venezuela got bankrupted?
Socialism and dictatorship has destroyed South and Central America. How do you explain Canada's continued success and stability?
The problem with socialism is eventually you run out of other people's money. Don't get me wrong, socialism and communism both work phenomenally well. The problem is people assume that it is a means to help the people. When in reality it is just a means to gain power and it is extremely good at doing that.
When it showed the protestors dying it really hit home. A few years ago my cousin died protesting and it's hard to watch it happen and to not be able to do anything about it.
Wish you luck in your life
I’m so sorry beloved. May they rest in eternal love and peace knowing they lived purposely and transitioned into the forevermore honorably. 🤍🙏🏽🕊️
Even robux is more worthy.
Lol yes
on the edge of 1 bolivar being worth 100 times less than a single robuck
I grew up here and it’s so sad to see my family have to leave and it just fall. It’s sad.
Sri Lanka getting here very soon
Everybody gangsta till the government start printing shitload of money
Seriously, does Venezuela money has any worth to economics?
@@arpansarkar174 no, but I’m sure it makes good toilet paper
@@TheDiameter XD
That could never happen over here!
Oh wait, covid "crisis" is a good excuse to do so.
everybody gangsta till the government tries to be socialist and rely on oil money at the same time
Hold on. Ya telling me the crisis is more complicated than simply shouting "SOCIALISM!!!"?
Well wadda know!
Seems to go over the head of most people here though..
If you're chalking it up to corruption, know that corruption itself is a result if socialism and the increased bureaucracy.
The theory that the Venezuelan economy fell because of the fall of oil price it's so unsustainable, because the price fell in 2014, September of 2014 to be specifically, BUT, we can see that food shortage was already a reality before that time, in September of 2013 (www.theguardian.com/global-development/poverty-matters/2013/sep/26/venezuela-food-shortages-rich-country-cia), April 2012 (www.nytimes.com/2012/04/21/world/americas/venezuela-faces-shortages-in-grocery-staples.html), 2011 (edition.cnn.com/2011/12/13/world/americas/venezuela-food-shortages/index.html) when the price of oil was 120 dollars in the world, 2010 (www.economist.com/node/16326418) and in 2009 (www.telegraph.co.uk/news/worldnews/southamerica/venezuela/4938993/Venezuelas-Hugo-Chavez-tightens-state-control-of-food-amid-rocketing-inflation-and-food-shortages.html).
Yes, you misses the single most important motive of why their economy was destroyed and the percentage of poor people skyrocket to more than 80% in 2015 (g1.globo.com/economia/noticia/pobreza-na-venezuela-chega-a-818-diz-estudo-independente.ghtml) SOCIALISM, THE CONTROL OF PRICES, THE STATIZATION OF BUSINESS, THE REGULAMENTATION OF ALL THE SECTORS OF THE ECONOMY, THE INCREASING SPENDINGS IN SOCIALIZED MEDICINE, ALL OF THIS WAS EXTREMELY RESPONSIBLE FOR THE DESTRUCTION OF THE VENEZUELAN WAY OF LIFE. DO NOT BELIEVE IN POLITICS SPEECH OF HOW BEAUTIFUL WOULD BE A SOCIALIST WORLD, IT'S UNETHICAL, ILOGICAL AND UNSUSTAINABLE.
Salokin Sekwah it was socialism. They just went into details on how socialism ruined it.
Socialists can't understand how price are important. If you manipulate prices incentives gets perversed and shortages happen. Shortages in resources can turn a democratic government more authoritarian.
This is why it's wise to turn your savings into dollars
Weird to see Vox criticizing the politics of the country whose ideologies they are promoting and advertising in America. Never thought I would see that.
Don't forget that Venezuela taxed investors too much so they left the country.
Investments is the new colonization
That and they literally started nationalizing companies as well - so they just left. This is what socialists do, they literally take other peoples and companies money, and everything is great until that line of money runs out or those companies pack up and leave.
Rod Munch government control over companies isn’t a socialist thing at all
@@rodmunch69 dang i didnt know socialism had companies in it
Yash Tripathi Venezuela is not socialist
I'm a little Venezuelan girl. And honestly watching this video breaks my heart, and hurts me in a way I can't even put in words. I think that you explained very well the situation itself, you said everything you had to say,and yes,that's the story behind of the nightmare we're living. I just feel like there's a lot more to say; a lot more of the pain and the frustration of every single venezuelan person out there.:(
Living in Venezuela is like a daily challenge,it's so frustrating to see your dreams and your talents just go to waste, it's so sad to see the amount of poor and hopeless young people who are afraid of living their whole life in mediocrity (I' actually one of them) :( I just pray for all my venezuelan people,hoping that one day, we will be a stable,peaceful,happy, and productive society.
I'm sorry if i spelled something wrong,my english is not good, I'm just learning:(
Sara Gomez except that they forgot the main problem socialism.
Yeah, sorry Sara, this video might be right in line with Venezuela government propaganda, but the rest of the world knew this day was coming for Venezuela. Even a country as natural resource rich as Venezuela could never maintain the level of government intervention in their economy that made Chavez popular. Politicians will promise you the moon, but if the people aren't wise enough to reject their empty promises, economic collapse is inevitable. There are economic explanations for everything happening in Venezuela right now, time to start studying basic economics and taking it seriously.
Sara Gomez i pray for you
love from india
I empathize. More or less the same could be said about my country, the United States. We are doing better in a lot of ways, but in some ways we are doing worse.
Wyatt Downing If Socialism was such a problem, why did it work in Libya?
And people say that Venezuela failed because it was socialist? That has nothing to do with why it failed... The socialist policies that they implemented were actually INCREASING the quality of life for the population. The economic failure came from poor economic decisions of the corrupt authoritarian leadership. Had they diversified their economy, they could have sustainably implemented perhaps even more of those socialist policies. Of course, once that started happening, the US Military Industrial Complex would stage a revolution and sponsor an even more corrupt leader to prevent socialism from ever being able to prove itself. But hey, its in the name of "Freedom"! "If it ain't broke, don't fix it!" says the US Govt. as thousands of Americans starve, and excess grocery food is thrown away and covered in bleach to prevent the impoverished from even stealing their trash.
Sir, I suggest you look at its history. The inflation already was close to a mil% before any us sanctions.
@@jeanniemaycrawford4466 I don't remember citing US sanctions as the reason for Venezuela's economic crisis. I'm pretty sure I cited the country's poor economic choices and corruption, and wanted to make it clear that those choices are independent of the country's status as a socialist country
@e93 bruh did I literally not just explain why that is explicitly not the case
America is slowly becoming this and it’s terrifying
Stay strong Venezuela 🇨🇴
Love from India 🇮🇳
Lol we Indians need dictatorship but not like maduro
@@shalinisingh5848 thinking the same....we need Dictatorship
@@shalinisingh5848 this is 21st century....come out from those 17th and 18th century when our dictators touched British foot for money and gave the entire power to them... Dictatorship is very dangerous to this world...Example is north korea...
@@srinivaspaalakaveeti2082 well it all depends on the dude thats gonna rule...I mean middle eastern countries like Oman, Kuwait or UAE have a fairly prosperous population...here though, I believe it's because of the government's inability to transition out of oil dependancy...
@@srinivaspaalakaveeti2082 I don't k much about world history or politics. I'm kinda new. But I do k that China has prospered n is in a position to challenge even THE USA. I guess India needs a leader who is NOBLE but the govt can get the GOOD laws passed easily n quickly executed. Cuz currently, the bill has to pass from LS, then RS. Opposition can disagree. I don't think that happens in China.
God help Venezuela 🇻🇪
Love from Great Britain 🇬🇧
We’re Fine
Come Downtown Caracas And I’ll Break Your Legs M8
i like how Vox paints Hugo Chavez as a good guy.
There is SO much missing in this video...
The worst disgrace that could have happened to my country Venezuela is that we were the largest oil reserve in the world. We retired from the fields and became ultra dependent on the oil rent, we have to buy from other countries what they produce with our raw materials. With the accumulation of wealth that this country has had to be a first world country, but thanks to our corrupt politicians throughout the 20th century we are a third world country more.
Well, Venezuela is not exactly a Saudi Arabia. Saudi Arabia has the best oil out there. Cheap to extract and cheap to refine. Venezuela has extra heavy crude oil. Very difficult to extract and refine and very expensive and requires a workforce with the adequate expertise. The oil industry requires tons of capital investment to make sure reserves are usable and it's even more true for extra heavy crude.
Things were doomed because Chavez failed to inject the capital investment required to keep production going...and he chased away the expertise required to effectively produce this difficult type of oil. Oil production fell over the years to about half of when Chavez took over. That means revenues would have halved had the oil price not increased rapidly during that period. Something driven by the rise of China. China's growth was gonna max out eventually and the more expensive oil becomes the more viable other sources of oil becomes (oil from fracking etc) meaning more supply. Oil was never gonna rise at that rate forever. Chavez should have used that window of opportunity to invest in tomorrow instead of blowing all the money on socialist pet projects.
Chavez destroyed other industries in the same way
Hugo borrowed ideas from communist Fidel Castro how did that workout? You guys were heading in the right direction all it takes is for useful idiots to vote for the wrong person.
@@tylerdurden7927 agree
I am from India and after watching this video I literally cried...So much pain . May God bring peace to Venezuela..!!
Emma Louisiana thanks, right now we are doing worst than before but we are holding in there, again thanks for the good thoughts
Anabel Z Welcome but I think you do not need to thank me as I am part of this world too and I believe that the whole world is my family. I really felt the pain sister and I believe sympathy is what makes us humans and it really doesn't matter if we live in different countries or continents. At the end we are all humans united and there for each other.
Emma Louisiana, everything is fine now, and we have been enjoying peace since the 30th of August 2017 when almost 8 million Venezuelans voted for the Asamblea Constituyente. This video and some of its commentators are part of a fake news media narrative created by eeuu paid agents to justify an illegal intervention in our country, for our oil and other abundant natural resources. You can watch our current reality by our national TV stations, like VTV, Venevision or Televen. The last two being privately owned by the opposition. Fake news is a real issue in our days, so I suggest digging a little before believing anything from any media.
FelizyEficaz Oh thank God everything is back to normal I guess. Still may your country flourish and enjoy peace.
pratik Belkar Safer than Mexico or Brazil now. If you do decide to come, just use common sense, don't go around alone in places or with people you don't know and trust. I wouldn't do it anywhere in the world.
can any body please tell me the description of the y axis from the statistic with the CPI and the GDP per capita
Fuerza pueblo Venezolano sigan luchando por una vida mejor para sus familias. Esta gente tiene que pagar por sus crímenes. Si se puede Venezuela!! 🇺🇸🇻🇪
As a Venezuelan, who lives in the United States but family is entirely política refugees, I am glad to see people taking notice of the crisis in my country. I really hope my children can walk the same streets as my family’s home in the future.
@Ronie Lavon Chavismo and Cuba are the looters of Venezuelan Oil. Estupido Primermundista.
Sad thing is this is currently happening in America
And the US media talks about what celebrities ate for lunch
Not everyone wants to stick in the warzone that is political news all the time mate.
they got what they wanted, chavez was the country last stand
I know this is sarcasm, but that is literally not the media talks about
bro Vox is US media...?
Sriyaa Srinivasan he’s a hardcore lefties so forgive him
Me: Venezuela
CZcams: Venezuela crisis, Venezuela collapse, Venezuela inflation
Me: USA
CZcams: USA national anthem, USA happy every day
more people need to know about the long-term effects of communism.
People keep demonizing Dubai(UAE) for its fast growth thanks to their oil but fail to understand that a country needs good leadership or it will become like Venezuela.
Pepe ...petrodollar will fall
everything at some point falls
but thankfully Dubai is relying on oil for only 20% of the income
in fact Dubai is the first city in the world to have Electrically powered Taxis .. and it's not UAE only .. even Saudi Arabia planning to do so within the next 10 years
a country needs to have a diverse economy, not one that realizes on one thing.
Okay...
Saudi Arabia sooner
Being an immigrant from Mexico here in the U.S. all I wish for is peace for every country. We are with you my brothers and sisters from Venezuela 🇻🇪 ❤️ God Bless you all
Anyone here legally is welcome to be here.
that moment when u see the largest oil reserves as a sad face, knowing the worst is coming
Just maybe hear me out maybe it's because of socialism, yeah? Yeah?
@Samuel Santoro Is this sarcastic? I can't tell, because I think some people would actually believe this.
@Samuel Santoro The classic "Blame your failures on other systems," no, this is not true, socialism is inherently flawed. Socialism has NEVER worked.
Venezuela isn’t socialist
@@eddyrodriguez3865 last time I checked his party is called United Socialist Party Of Venezuela that decided to turn it into a dictatorship , maybe socialism wants you to think its all good but when you see the end result people say 'that wasn't socialism' , that's what socialism brings . When people decide to stop looking at the intentions of policies and look at the product of that policy then people will wake up
@@The_Alexander_371 70% of Venezuela’s economy is privately owned. They literally have less public employees than European countries. They are a social democracy just like the US as well. They have extremely private healthcare, they literally just are not socialist. They wanted a model like Scandinavia but they’re in the US sphere of influence which is no good, that’s why the US sanctioned the sugar honey iced tea out of them just like they did to Cuba. Anyone calling Venezuela socialist is just so mindblowingly ignorant. North Korea is called the **Democratic** people’s Republic of Korea, does that mean it’s a democracy? The name means nothing
Good job, Vox. You forgot to mention the SOCIALISM.
Absolutely!
Apologies for my ignorance, but would you mind explaining to me why do you think it is caused by socialism? I am quite new to politics.
Vox has almost a 8 minute video about why a country's economy and society is collapsing, and they don't even mention the style of economy it runs. They're not telling the whole story.
Sam, what crisis?
Socialism only works in theory, in practice you're overthrown by a CIA supported military coup
Un abrazo a mis hermanos venezolanos, desde Costa Rica
Les deseo lo mejor
Latinoamérica está con ustedes
De pobres a pobres
@@Ricardo-gf7ts jjajajajajaa
Los gringos deben de sacar a maduro pero hoy mismo!
Jajaja un pobre saludando a otro pobre :v
This is what’s happening to the Philippines now and it is scary.
Yeah. As a matter of fact, the country is currently unitary-presidential and is restricted to FDI. This brings a lot of issues we're encountering everyday since decades ago. This is indeed scary.