☭ This is Socialism ☭
The Socialist leader Hugo Chávez was elected in 1998 and used revenues from the oil boom to spend heavily on social programs. He died in 2013 and Maduro took over.
Since then, oil-rich Venezuela has spiraled into economic and political turmoil and is nearing total collapse.
Hyperinflation has made its currency, the bolivar, practically worthless.
Severe shortages in food and medicine have left Venezuelans hungry and dying of preventable diseases.
Crime, often fueled by poverty, is rampant.
The socialist party has now run the country for two decades leading Maduro to say, ”We are a major force in Venezuelan history.” A large part of his power comes from the support of the military.
High unemployment and difficulty in accessing food and other basic necessities, including medicine, have forced millions of Venezuelans to flee the country in search of a better life.
Hyperinflation has devalued the Venezuelan bolivar by several orders of magnitude, compounded by wages that have fallen far behind the inflation rate. The International Monetary Fund estimates that the gross domestic product has shrunk by almost 80% since 2013.
https://disasterphilanthropy.org/disaster/venezuelan-refugee-crisis/#:~:text=As%20of%20December%202021%2C%20more,primarily%20Colombia%2C%20Peru%20and%20Chile.
This guy thinks that is socialism.
