New York Times (June 20)
“Venezuela is convulsing from hunger,” with over 50 food riots in just the last two weeks. The mobs storming supermarkets, restaurants and stores for anything edible are showing that even in the “country with the largest oil reserves in the world, it is possible for people to riot because there is not enough food.”
Tags: Convulsing, Food riots, Hunger, Mobs, Oil reserves, Restaurants, Stores, Supermarkets, Venezuela
Washington Post (January 19)
The drop in oil prices is hitting Venezuela, Russia and Iran hard. These “three troublesome nations” rely on energy exports for 68-95% of their external revenue. Venezuela now “appears on the edge of a political chasm. Putin will try to fend off domestic upheaval with more foreign aggression. And Iran will make a fateful choice between forging a lifeline to the United States and Europe and consciously embracing isolation and harsh austerity.”
Tags: Aggression, Austerity, Chasm, Energy, Europe, Exports, Iran, Isolation, Oil prices, Putin, Russia, U.S., Venezuela
Bloomberg (January 2)
“Venezuela had a banner year in 2014: the world’s highest misery index (inflation plus unemployment), a fresh recession, and a currency whose black-market value plunged faster than even the Russian ruble…. Unfortunately, President Nicolas Maduro doesn’t seem to have any good ideas — any ideas at all, really — for improving things.”
Tags: Black-market value, Currency, Inflation, Misery index, Nicolas Maduro, Recession, Ruble, Russia, Unemployment, Venezuela
Wall Street Journal (February 16, 2014)
“It’s getting ugly in Venezuela.” The economy is crumbling with inflation north of 56% and wide-spread shortages, which have caused some factories to close. Amid growing protests, Venezuelan President Nicolas Maduro is consolidating power using deaths at recent protests “to justify a government crackdown on growing civic unrest directed at his leadership and a deteriorating economy.” A natural “strongman,” President Maduro is now following “the Cuban model.”
Tags: Crackdown, Cuba, Economy, Inflation, Leadership, Nicolas Maduro, Protests, Shortages, Strongman, Unrest, Venezuela
