Why Venezuela's Economy is so Terrible 

Because of sanctions. No 30 mimutes needee tobexplain

@@heroisdacrise2024 Your brain is too shallow

Your big lips, keeps distracting people from your narration......please move further away from the microphone....you're welcome.

@@dwood5252 ?

does the CIA not pay you enough already?

Actually its more like being grounded by Uncle Sam and left to starve while Uncle Sam bribed child protection services that everything's fine

@@lamchunting856 bro, it isn't murica problem. Stop blaming usa in everything. It is just the fault of corrupt leaders

And no life ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-v11I_rm_Ymo.html

@@lamchunting856 Ah yes...Uncle Sam, blame him. Not the corrupt bastards who enriched themselves and invest/saved 0...

@@lamchunting856 dumb analogy my guy

Very clearly, Capital Controls combined with printing money as sport, and the destruction of the private sector were the key aspects in the destruction of Venezuela. This documentary is very good in general principles but lacking in depth, unfortunately, as Latin Americans are aware of a vivid private sector in Venezuela before 2000. Industrial sectors who were the envy of South America. The focus on Dutch Disease minimizes this fact, alongside other complexities that had made the Venezuelan economy "robust" by Latin American Standards. And yet, only the Venezuelan economy killed itself. There were key decisions made by Chavez and Maduro that made Venezuela not just "yet another corrupt Latin American country full of natural resources and corrupt elites" but the worst humanitarian disaster in the western hemishphere before Ukraine, with an economy now worse than Haiti (People in the US and Europe wouldn't know, the magnitude of this disaster has been sustained mostly by Latin American countries). Venezuela was very rich in 2000 and could have remained in that path today. Reaching levels of development of Chile or Panama much faster. But socialism destroys countries. Chavez killed Venezuela (an economy that could have gone either way at that point).

I feel for the people of Venezuela...they are the victims of a corrupt government...when everything is government controlled, the people have no voice...and cannot create companies that would be far more profitable...I hope this changes soon...Viva el pueblo de Venezuela...que derroquen a los tiranos...

Her hmm rhegrgrgrgrgr he rehear grg regenerate Rhett

We’re hoping for better days to come ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-v11I_rm_Ymo.html

"As someone who has the disgrace of existing in Venezuela" ====> For some reason this comment tickled me

I noticed, a lot of folks are making huge 6figure killings in this downtrend, only just that such techniques are mostly successfully executed by folks with in-depth market knowledge.

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@@charlotteflair1043 That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the init-adviser you're using?

That is chump change my friends, get into the future and the future is right now. I make about 12 -14 million dollars a day from a $121 investment buying and selling NFTs. Non-fungible tokens. It's the thing to do. What makes them so valuable is that you can't funge them. Not even a bit, they will not funge. $60,000 returns ???? I won't even get off my sofa for $60,0000 now that I'm making so much money buying and selling NFTs !!!!

And sanctions from the US

​@@jcstoHow so?

@@Hater_Ultima sanctions imposed by the US to the government and certain oil companies made very difficult for Venezuela to prosper economically. Combined with the low-key pressure that US applies to their allies to not negotiate freely with any of the countries they don't like, plus any country that's not aligned with US interests will get sanctioned or destabilized, specially if you pick socialism instead of capitalism, hence, USA interests

​@@jcstoSee you're falling into the socialist trap. When you ask Venezuelans themselves, they will tell you the US had nothing to do with the collapse. Long before the sanctions, Venezuela's economy was already rock bottom Everyone, except socialists and leftists, know the US had nothing to do with the economic downturn and hyperinflation. Plus, the US has sanctions on many other countries but their economies are doing fine, because they also have trade with other nations like China and Russia. Sanctions are basically embargoes, it doewn't prevent countries from trade. If the US did have a hand in it, it's like 5% if not less.

Those are all symptoms of capitalism, the need for the most profit. Those short-term economic principles are capitalism, the corruption is capitalism.

The capitalism is the solution, what worth education, if there is not investment for the projects of educated people.

@@danielramirez8298 exactly

Also the many sanctions and laws us put in place to not let any country to give Venezuela any loans or machinery to keep the oil floating. If the USA didn't sanction Venezuela it would be a a lot different

@@danielramirez8298 Facts its almost like the world is much richer now thanks to a free market economy

The main issue is the constant sanctioning by the US, even in 2018 it had prohibited buying of Venezuelan debt or oil, crippling their economy heavily with the consideration that the oil industry is the biggest export (85%), what should've been done is diversification of the economy as well as modernisation of economic engines. The sanctions have alongside crashing oil prices from increased supply kicked down the state

👏👏good luck, i wish you and your people all the best to create a competent government which puts the wellbeing of its citizens first

The "US is the problem" never made any sense. It doesn't explain why Venezuela went from one of the most prosperous economies in the Western Hemisphere (very capitalist) to one of the worst. Unfortunately Venezuela is a great example of why it's bad for a country to rely on one source of resource to sustain an economy. I don't disagree with the assessment in the video that Venezuela is one of the strangest economies on earth. Venezuela is dependent on one source for economic prosperity. It was always going to be governed by world pressures and things outside of it's control.

Venezuela is absolutely one of the most beautiful places I have ever been. I hope you guys can turn things around.

“It was always going to be controlled by world pressures” such as American embargos/blockades ? 🤨

You do know you don’t employ millions of people in only 1 industry ? Oil or tourism

The resource curse at its "finest" or like how people went nuts over easy money in 2005 and 2006 with no safety net as if a crisis the next year couldn't happen...

As an 80’s born Venezuelan myself i say you are not 80’s born Venezuelan

@Dgarays The first duty of any elected government is to feed the people in the country.

yea but reason Colombia isn’t screwed like Venezuela is because it doesn’t rely mainly only on oil for its economy Colombia has also agriculture, huge flower producer, huge coffee producer, huge coco producer etc

Hurts my brain to think about

Because of sanctions. No 30 mimutes needee tobexplain

@@heroisdacrise2024 becaus off sanktions. Mo meede 30 nimutes toExplaane

Columbia is part of US/NATO! How hard is that to understand.

The oil wealth should have been used to diversify their economy.

giving everyone fish is good tho it’s jus Venezuela’s fault for relying on oil

@@Proxyyy825 No. Giving everyone fish does not encourage local growth. Every country ( or person) needs to a have basic level of self-sufficiency. Many of the Gulf States are rich and providing for their citizens. But they are also having to import many things, even workers. And not just, basic larbourers. Eventually the oil money will decrease. And then they will have a population that never learned to take care of themselves. In my own life, I will willing to provide for the college education for my goddaughter. But once she graduates I am expecting her take care of herself. I am willing to help her in tough times. But she already knows not to expect to live off my help forever.

@@answerman9933 the fish should be a basic right there’s many things that should be free and a basic right

like also College

That's what I thought as well when he said that.

I feel you Arquinmedes. Opportunities that are repeatedly extended and within reach, yet time and time again ppl allow, take and sometimes Even Demand The Easy Route. Later when the easy route leads to despair, it's always another person/countries fault! I see it everyday we my black community leaders develops, creates reasons and ways to not take responsibility for community crimes! So easy to say, "they". A microcosm of Latin American countries today! No personal responsibility! And when challenged, you're Shouted Down! So Sad!!!

Venzuela only needs to respect Private Property, respect Free Markets, institute a Democratic Republic, and maintain a Sound Currency. They could lift theirselves out of poverty in less than 3 or 4 years if they did this. But... they probably never will, cuz that would mean less power and money for the King. 😥

@@keith6032 remember that the stupidity of most of venezuelan people elected Chavez as president. So don't blame the supposed 'king'.

Thank you for your honest comment.

@@keith6032 What is you smoking brah? Did you not hear about crippling economic sanctions that USA has placed on Venezuela. Once USA lifts these sanctions finally THAN Venezuela can prosper.

Still, you cannot deny that Chavez did everything way way worse than it was before him.

Yet Chávez stole way more than the ones who came before him, the goverments after Marcos Pérez Jiménez were shit (since they were socialists like Chávez) but nothing nearly as bad as Chávez

Chavez is responsible for 80 percent of its Demise

@@kiljaeden5405 Exactly 🤝

Because of sanctions. No 30 mimutes needee tobexplain

when it was doing well socialist said it was because of Socialism!

It's not a simple argument. It's entirely true. Every country has problems. Problems are part of life. But you don't see such a RADICAL swing in a nation's misfortunes without one thing, GROSSLY OVERPOWERED GOVERNMENT! Which in most cases, is "Socialist". Socialism is a nice word that tyrants use to sell tyranny to people who are ignorant of how destructive it has been for dozens of nations and billions of people.

That’s the one and only reason, all the other reasons are aspects of socialism.

Yep, and now, because Socialism has so thoroughly wrecked their own country, Venezuela is about to militarily invade and subjugate Guyana, to steal their oil to continue propping up this Communist regime. This should surprise no learned person. @@robfromvan

The country was bad for government intervention Blame, in latin america overrall the people always have hated capitalism, because there are many communist propaganda and anti USA propaganda, that say that USA enslaves us, and steal our resources, and treat us as citizens of second class, but the only blame in on us and our government i am Venezuelan, and if you see the history of my country we were a very poor country where we killed each other, we thrive thanks to US oil companies, and we were the fourth riches countries in the world, thanks to capitalis, also there were venezuelans oils private companies emerging as Mito Juan, but all ended with the petroleum nationalization that was the worst thing that happened us. The people think that a nationalization the People will have equality and thriving and there is only corruption and mismanagement.

@@danielramirez8298 everywhere communism gets popular, dicatorships and poverty follows. every. single. time. there's a reason for this. because communism to economics is like flat earth theory to physics.

@@danielramirez8298 and the popular sentiment for communism ALWAYS is rooted in sowing division and envy by insisting that people see things through group identity lens. "steal our resources". no. it's called purchasing. just set your prices accordingly.

@@danielramirez8298 lack of education and communism have a great relationship. lack of education allows communism to take hold, since people can't see communism's economic and historical flaws. then once communism takes hold, it is so obsessed with holding onto power, builds a corruption and lie based economy, which all then prevents education.

@@gwho If anything this video shows is the opposite of what you claim. The economic system didn't matter because the problem was already there. The Dutch disease generated boom burst cycles before Chavez and was independent of having a communist system or not.

No its socialism, Every country in the Arabian peninsula rely on oil and will all be bankrupt without it and they are all doing wel

Looks like present government should take a lesson,ya spend more than ya make ya end up broke!🤷‍♂️🤦‍♂️😫

@@adventurefaps9571 Sanctions are one of the most evil actions a country can do without going to war. It is basically holding the welfare of the citizens of a country hostage

The economy was not going to prosper relative to foreign economies. That's WHY the oil isn't helping. There's no way to own any imports. It's very easy to miss what happened through the pro-US propaganda on this channel. Consider what would've happened if the US had pinned the Bolivar to the dollar - and not visa-versa. This would've accomplished Chavez' goal of trying to stabilize the currency because they (the US) would've helped support it rather than syphon off wealth.

Yes, my country used to be famous for coffee and cocoa beans, but ever since oil became the big thing, everyone moved from rural regions to the cities, thus making oil the main source of wealth in the country

You had a leader who killed 25% of its population, in Venezuela has to pass the same, drugtrafickings smugglers, gangs etc.

@@danielramirez8298 that's terrible...

Venezuela was making big money at a wrong time in the 70s. They couldn't spend properly on high tech infrastructure. They instead obsessed with military which had no investment value unless they do something to their neighbors.

@@keithng5249 always curious what will happen with Singapore and other city state type places like HK or Macao since y’all have no housing left and the population keeps going up. Looks crowded 😩

@@cjthompson420 HK and Macao are essentially China so no worries about them. For us, we meticulously plan our population growth and manage our immigration policies to achieve the population we need. Right now our natural growth rate is declining rapidly and we need maybe 20~40k new residents each year to just sustain the current level. We also plan our infrastructure ahead and continuously make land reclamation (20% of our current land area were reclaimed from the sea). Out of our population of 5.6 million now, 2 million are just foreign workers and we have strict laws to prevent them from assimilating into our population (they cannot be pregnant or buy properties etc). Lastly, we have a strict policy against asylum seekers and refugees etc, with reasons well explained right from the start.

a que te dedicas?

Because of sanctions. No 30 mimutes needee tobexplain

@@heroisdacrise2024 Your brain is too shallow

The country is more stable now but it makes no sense to have such a disastrous country with so many opportunities.

Could you tell us what you do for work? Just curious as a business owner/entrepreneur :)

Trinidad and Tobago are Venezuela proper. The Venezuelian gov. Has never gotten around to taking it back because the Anglos always interfere in the affairs of other countries.

@@vizsla8579 Venezuela couldn't even managed their own economy as it is, and you have dream to annex Trinidad and Tobago? Lol

Lol 😂

As a Trinbagonian, we have alot of issues that are similiar to Venezuela however one thing is definitely sure, we handled the oil that we had very well. Venezuelan nationals are now risking their lives to come to our country where as it used to be the opposite a few decades ago. I too hope that the vid suggestion goes through.

@@vizsla8579 umm Venezuela is a settler colonial state. Like the land was built on stolen indigenous land. Venezuela is far from being a victim.

Thank you!!

Hope that marriage still goin strong.

Oh, you just like it because you heard what you wanted to hear.

@@JSB103 well there's always someone wanting to hear otherwise. Would you please do the honour?

@@AA-sn9lz, since you've asked to hear otherwise, I'm going to _cut and paste_ what I have already posted in this thread about a month ago, alright? This doesn't go into the _"unilateral coercive measures"_ (economic sanctions) and all the rest of the flak Venezuela has had to endure since the days of Obama and which have caused the country incalculable damage in every possible way. Enjoy: _"Through most of the 20th Century, Venezuela lived on its oil. What little industrialization it had, was mostly assembly industry with little to none locally generated improvements of any kind. When anything broke, it was bought anew. Venezuelans JUST LOVED to throw money at any problem over a bottle of scotch or two._ _Through all that time little to nothing was done to actually move the country out of being a second rate service economy (much like the U.S. is today). Back in the day, foreign oil companies were actually doing all the heavy lifting where maintaining the industry was concerned._ _When Chávez came to power, the oil Industry was already in trouble because International crude prices were at their lowest levels ever and Chavez's in your face left leanings didn't earn him (or Venezuela) any friends or favors in Washington._ _It should be noted that corruption has been a staple tendency in the country especially in the period after the ouster of dictator Marcos Pérez Jimenez on January 23rd. 1958, and it's still rampant today._ _Improvements in the Venezuelan economy are possible but it's unlikely that this generation of Venezuelans will enjoy the prosperity past generations enjoyed. Yes, and the finger-pointing blame games we see all across all the (anti)social media aren't going to help things either. ALL VENEZUELANS are and have always been an active part of the same crazy dynamic."_

Interesting video. Time for a "French Revolution" in the country and let the people take over.

@@JSB103 Sanctions are the excuse from the people who drove the economy into the ground. The Chinese and Russians never cared about "sanctions", yet your "great leader" couldn't get them to provide more things from the excessive debt to them. Like this video correctly explained, you overspend when you were supposed to be saving, that's the pure truth. By the time "sanctions" occurred, there was no difference since we were already into years of scarcity thanks to Maduro's "fair price" law, and only when Maduro finally removed the "illegal exchanging" law and the "fair price" law, did the nearly destroyed economy took a little breath, Then your genius politicians added another absurd tax to destroy it again. The only reason Venezuela is destroyed has a name: Socialism, specifically: "central planned" socialist economy; it never worked and it never will. But Maduro and books don't get along which is why he and Chavez repeated all the mistakes of humanity and produced the exact same results. No need for sanctions, just decree the price of things and watch the best of economies crumble. It doesn't work and its your sole fault.

Nice to hear! Are you still living in Venezuela.

Socialism is a hell of a drug

Because of sanctions. No 30 mimutes needee tobexplain

@@sergiocazzaro4571 Indeed.

@@heroisdacrise2024 this same guy made a video on why Latin America is still poor and didn’t mention CIA coups and other American “involvement” so he has an obvious slant to his videos.

@@sergiocazzaro4571 Did you even watch the video? The problems of Venezuela existed way before Chavez

Hmm not really, oil contributes 10 percent to Nigeria’s gdp but Venezuela was a different story. Nigeria just need a diversified revenue source.

@@TheStickman419 yh many people think Nigeria is oil dependent but no. Nigeria have a revenue generation problem coupled with unstoppable population growth that weighs down the infrastructure. Nigeria depend on oil for revenue generation not gdp.

Here is a link on Wikipedia en.m.wikipedia.org/wiki/Economy_of_Nigeria

@UCmzLLdyEAJtEEeMc3MlNwOA I am Nigerian too and Nigeria is not oil dependent for its economy just revenue generation. And because Nigeria have been having problems generating revenue since 2015 that is why poverty have increased significantly. Nigeria need to diversify it export base but it actually gdp is diversified away from oil.

@@jaybee4577 Nigeria is an export based economy man, almost 85% of our exports is oil .... Why do you think our currency seems to fall with oil prices... The day Nigeria moves away from oil I will be very very very happy.... cause it will do so much... But it hasn't happened, and there Dosent seem to actually be an end in sight

Tell those people who claim that it was all the US' fault a very kind and warm "El recontra coñísimo de tu madre" from me, a fellow venezuelan, please. Greetings and blessings for you and your family, brother. P.S.: as long as you appreciate us and get involved with our people, you're as much of a venezuelan as me or as any other. Don't let anyone make you think otherwise.

What about the macroeconomic force of the world's largest economy sanctioning the country?

Somehow the US involvement in the Chavez attempted coupe was left out. Same with outside influences to keep Venezuela a failed state.

All the people who replied on your comment either did not see the vid, or did not understand it.

unbiased LOL

@@1marcelo problem?

Because of sanctions. No 30 mimutes needee tobexplain

@@heroisdacrise2024 Your brain is too shallow

@@heroisdacrise2024 we were in the shitter before the sanctions. Try again commie

@@heroisdacrise2024 speak english or dont speak it all, go back

@@shipshrekt2156 you should try my language cause younare way smarter

They are still working on failing as we speak

I think you guys do ok. I'm Jamaican and I know we import tons of products from T&T .

Because of sanctions. No 30 mimutes needee tobexplain

T&T's economy is not like Venezuela's at all, we produce oil but that is really where the similarities stop. If you listened to the video you would have heard that there are some historical issues that laid the groundwork for the current situation Venezuela finds itself in and those issues are particular to them. Trinidad and Tobago's economy does not work the same and although I understand those who draw some parallels between the two, there are very big fundamental differences that make the comparison inaccurate.

Nah, y’all Trini’s are just thirsty for some world recognition that y’all bring your country up regardless what.

@@proro1974 their economy stagnated in 2009/2010 & hasn't really grown since

Really? ALL the people? I have a great friend from Caracas who tells me many stories about lawlessness and kidnappings (fastnappings) before the current head of the banana crime family took over.

@@jonathanchester5916 “the people” in general. Just trying to live life. Not “ALL the people”. There were parts of Petare (Caracas) that the police wouldn’t go to even during the daytime. Much worse nowadays. One of the most murderous places in the world now.

Those three years were great, compared to what came later. Keep your good memories, i still retain some...

The best period for the nation in it's history was around 1952-1958. 60s and 70s did ok thanks to this first past administration along lucky circunstances but crippling corruption and dutch syndrome leaded to the local currency's downfal and societie's division during the 80s and 90s ending on the current mayhem we have today!

@@dr.a006 the people are the ones that allow the government. They are the ones that don’t want to work and spend all the money poorly. No outside force is making these poor decisions. This is why most countries will not ever succeed. They aren’t honest with themselves

Australi also lives of natural resources, but hasn't socialism, and has the anglosaxon culture, meanwhile in venezuela we have the hispanic or spanish culture.

Dude, what the fuck are talking about ??? You are a rich white boy living in Australia... Go ask, to the real Australians, the Aborigines what they think about white people invading, genociding, stealing their land and resources... and deprived them from wealth !!! Australia is not a perfect country !!! Only in a white boy mind ! The truth is that white people hate the fact that Chavez and Maduro took Venezuela wealth and give it to the people, not to the white elite class like in Brazil, Colulmbia, Mexico, AemriKKKa, south africa, australia... Venezuela was not a paradise for all its people... only for the white racist ruling class !

@@danielramirez8298 socialism isn’t spanish

@@introducenombreyapellidos.2675 He doesn't mean that socialism is Spanish. He means that you have intense socialism, which is really just a clique of elites with red stars on their uniforms hoarding everything for themselves, but pretending to care about 'the people'. And in addition to that, he's pointing out that the Anglo-Saxon social-political arrangements, which were hammered out largely during the English Civil War, and were further democratized and codified during the American Revolution by the founding fathers of the United States, make monopolies way less acceptable to Anglo-Saxons than they seem to be for Hispanic societies.

@@adventurefaps9571 that’s just leftist victim nonsense.

Thank you!!

@@CasualScholar I agree as Venezuelan. I didn't quite like the use of the random unrelated footage (we don't have trains) but the narrated content was good.

Thank you so much! I'm incredibly grateful for you continuing to be a supporter of this channel! It meant the world at 50 sub and even more so now at 43K :)

@@CasualScholar i really hopr your channel blows up soon! you are in one line with others like economics explained or caspian report in my humble opinion. thanks for the effort!

Because of sanctions. No 30 mimutes needee tobexplain

@@heroisdacrise2024 venezuelas economy went down long before the sanctions tho

@@Marvin-ii7bh that is a plain lie, until chaves second tetm the country thrived and was gradually destroyed

That's what happens when people get stupid & vote socialist

Society is really institutional when you think about it. Individual people change jobs, get laid off, or pass away but the institutions they build and participate in are what remains to define the "society."

Its almost like having a bad administration is the real problem, not how you perceive the world

Venezuela is very bad for goverment intervention if you see the history of the country all its progress thanks to capitalism, investment of foreign oil companies, even the country its economy has been diversified in 1990 when government privatized the steel state owned company (Sidor) and a private company who bought it, multiply the production literaly per 10 since 400 thousands tons of steel until 4,7 millions tons of steel, the petroleum for first time wasn't 90% of our exports, was the 50% and the other half steel but this ended when chavez nationalized SIDOR again in 2006, now not producer nor 1 ton of steel.

Well actually when the country was in the hands of nationalists (Juan Vicente Gómez, Eleazar López Contreras, Isaias Medina Angarita and Marcos Perez Jimenez) we where on the good path, but unfortunately the economic elite to maintain their monopoly they organized the state coup against Marcos Perez Jimenez and they made the socialist “partydocracy” which lesd to socialdemocrats and socialists on power and stealing money since 1960-nowdays, and things got worse when Chávez and the PSUV (conformed by the extremist parts of the socialists parties) took power, the steal was unpresedented

They implemented socialist principles

Yes, true. Socialist policies have never anything to do with socialism. And it isn't as if they handled way better the "dutch disease" before the socialists came into power. Wait...What ?

Excellent point

Thank you :)

That’s true ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-v11I_rm_Ymo.html

Because of sanctions. No 30 mimutes needee tobexplain

@@CasualScholar this video is disgusting... Why not mention anything on "economic sanctions" when you do video on Venezuela... That's why I say DISGUSTING!

Did you research the crippling economic sanctions which this video ignores?

Because of sanctions. No 30 mimutes needee tobexplain

Indeed, those capital control measures were in place for the sake of political stability but quickly degenerated to a get rich quick scheme, instead some type of direct subsidy and easing of imports should have been in order until domestic production could drive prices down, ramp up exports and create jobs.

In comparison to South American countries, Costa Rica with limited resources did much with tourism and has a less corrupt government hidden in a strip of land in Central America. What hurts the South American continent are the corrupt governments, but resources are abundant and so is land.

What's crazy is that Costa Rica is the 14th happiest country, while the U.S is surprisingly in 19TH PLACE!! Even though the economy in a way is great.

I'd love it if you could get rid of the military in Venezuela, but they will always do coup when you try. Venezuela is doomed. These military have been corrupt from decades of gasoline trafficking (starting with the idiot that decided that gasoline should be nearly free).

@@brayanvillanueva7527 Because the US is a very unequal country, some are very rich, some have literally nothing. That and a number of other big problems. Big GDP doesn't equal happiness. Might mean there is just a lot of unequal wealth.

Thing is that Venezuela can't dissolve it's army as it has the Colombian guerrilla, and paramilitary and gangs in the frontiers with Brazil and Colombia. Also has a territorial dispute with Guyana where Guyana has power over the Venezuelan territory of Esseqibo. Thing is that people has to have a leverage over the army and no the other way around

Thank you!!

I'd say Socialism is more at fault.

@@tsunderella5826 this video shows that mismanagement of oil money have been an issue decades before Chavez and his soclicist policies

@@mikehurt3290 And that's were this video is lacking. Regardless of the mismanagement of the oil revenues before 2000, at the beginning of the century Venezuela was an industrial hub in Latin America, a rich nation with billions to spend and infrastructure that was the envy of its neighbours. Although many of the country's failures can be found in many resource rich countries across the world, the absolute mad destruction of the economy that the world has seen in recent years was the product of suicidal economic policies enabled by Chavez and Maduro, that this video doesn't analyze in depth or mention at all.

@@carloscampo9119 It peaked during 50ies~70ies. Now everyone closed their doors to us. Too much money, too much corruption. Even here we had some intellectual write about "the curse of the black gold".

The ultimate perpetrators of corruptions, in the end, are the ones running the countries including the military. That means they have the power and you can't get rid of them. Look at Putin -- invades another country and shapes the entire media environment in Russia to make it seem necessary. Look at Trump -- most corrupt psycho to ever be president of the US. You think he actually ever cared for any single american?

That's because the progressive's especially in the United States falsely asses Norway and other Scandinavian countries as socialist societies . The rich white progressives profit off the suffering of others and that's why socialism is a deadly disease.

Why is corruption in Venezuela so much greater/more widespread than it is in Norway? What do you think are the most likely explanations, in order of likelihood?

Because of sanctions. No 30 mimutes needee tobexplain

@Black But most of the damage was done by Chavez and Maduro.

@@heroisdacrise2024 Sanctions are no excuse, if they are so good, why do they need the US to thrive? They got the resources, they have too much corruption.

@@ppp8924 not sure if you know how sanctions work

@Black The country is a disaster because it wasn't managed well.

By Italian Law i should have the Italian citizenship and EU passport. Guess what the consulate of Caracas does? From a yearly demand of about 500000 people, they attend about 200 per year. It took me 3 literal years to get their system to assign me a date and be allowed inside. Once inside, the brought another excuse regarding my parents, even tho i also had grandparents with clear Italian origin (who emigrated to the great Venezuela of the 50ies). The alternative is to move to Italy and live more than 3 months and start the process there, yeah, with what income? Europe is not cheap to live. For whatever reason i once went to accompany someone to the Spain consulate and it was a similar situation, but a little better. I have given up and found a South American country that still welcomes us...

@@freeculture My people already had their Spanish passports and their Venezuelan passports and were ready to travel. A bigger problem with getting the Venezuelan passport if they didn't have one. They also had where to go in Spain (relatives who would give them a "hincapie". I also had other people that got their Spanish passports in two months after they applied for them. Immigrants everywhere find work--maybe two or three jobs, (Uds tienen fama de ser muy movidos y trabajadores.). I am sorry to hear about all your trabas y contratiempos, I don't know which latin American country you have found, but the only stable ones are Panamá, Costa Rica and Uruguay. Colombia just went "left". Chile is now problematic and as we know, Argentina is now called Argenzuela. Best of luck to you and may God be with you. P.S. Readers: sorry for the Spanish words here and there. I don't have the patience to look them up now.

Invest it somewhere else Mark, they don't wanna be saved

@@Tobi-kr1yp You are so wrong. One of them even got cancer and she would have died if she had stayed behind and Venezuela. you don't know the situation so shut up.

@Mark Schwartz I know the situation more then you know. There are people dying in so many other countries that need your help.

Zero international aggression, huh? 🥴🥴🥴

@@JSB103 The Venezuelan tragedy started 25+ years ago. The sanctions started after the country turned into a rogue state that supports any regime that opposes the US no mater the situation or ideology.

@@RubenGomezRealestate, I disagree. If what you say were true Chavez would have never seized power. _Anyway, I'm not defending chavismo here._ Over many years, Venezuela has been affected by several different factors and circumstances. I wrote my take on Venezuela more extensively on this very thread here six days ago, I just don't know how to point you to it. You're welcome to try and find it if you like. Perhaps you'd like to comment on it.

😄 I was waiting for it the whole time.

it is like Norway

Norway and Venezuela had the same GDP per capita in 60's the thing is that the population of norway always maintained low, and constan, but Venezuela with colombians migrations, and hight natality rates, its population multiplied by 10.

Norway was a liberal democracy before oil. If you have oil first, then there’s no democracy

@@danielramirez8298 ehh non. The "thing" is much more complex than that.

Not really. Venezuela is too illiterate and far-left for that.

Thank you, I really appreciate it and glad you enjoyed!

No one claims capitalism destroyed Venezuela.

Most videos I seen start at the Chavez Era which is very important but doesn't show the whole picture like this video does going further back in the past

Who in their right mind would say "capitalism destroyed Venezuela"?

It’s very nicely laid out ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-v11I_rm_Ymo.html

Thank you! Glad you enjoyed!