The crisis has been compounded by American sanctions intended to force Mr. Maduro to cede power to the nation’s opposition leader, Juan Guaidó. The Trump administration’s recent sanctions on Venezuela’s state oil company have made it difficult for the government to sell its main commodity, oil. Together with the American ban on trading Venezuelan bonds, the administration has made it harder for Venezuela to import any goods, including food and medication. Mr. Maduro blames the widespread hunger and lack of medical supplies on the United States and its opposition allies — but most independent economists say the recession began years before the sanctions, which at most accelerated the collapse.Gee, I wonder why consumption collapsed. I guess all those Venezuelans decided simultaneously to stop buying electricity, clean water, food and toilet paper. If only they could be persuaded to start consuming again.“We are fighting a savage battle against international sanctions that have made Venezuela lose at least $20 billion in 2018,” Mr. Maduro told supporters in a recent speech. “They are pursuing our bank accounts, our purchases abroad of any products. It’s more than a blockade, it’s persecution.”
“This is essentially a total collapse in consumption,” said Sergi Lanau, deputy chief economist at the Institute of International Finance, a financial trade association.
Guess the failed to specifically name PDJT as the prime cause of the demise of Vena-zoo-ela? Regardless of any involvement or lack of same.
If Hillary, or Bernie had won in 2016 I was planning on stock piling toilet paper, and ammo for the guns I lost in a tragic boating accident.
They wouldn’t be able to sell much oil anyway, since they nationalized the oil companies and put stupid politicos in charge that don’t know how to produce it.