General Discussion
In reply to the discussion: Fight Against Brazil Coup Is Now to Be 'Fire Against Fire' [View all]DetlefK
(16,670 posts)Venezuela is broke because Saudi-Arabia crashed the oil-price with over-production to kill US-fracking and now nobody wants to be the one to stop selling oil to get the price up again.
Venezuela is broke because of socialist programs that spend a lot of money. This only works if you can get that money from somewhere with taxes.
Venezuela, a major importer, cannot trade with foreign countries because the venezolan government refuses to use an exchange-rate that accurately reflects the low value of the venezolan Bolivar.
Venezuela cannot properly trade domestically because the low value of the Bolivar has lead to massive inflation. People simply cannot afford to buy things. (A hamburger costs $170. Google it.)
Venezuela is currently suffering a drought which is hampering that little bit of domestic agricultural production they have.
Additionally, the drought has left the lakes at their hydroelectric dams in a depleted state, leading to electricity-shortages. This has killed industrial production and the venezolan government works only 2 days a week.
Venezuela has plenty, plenty, plenty of problems that can backed up with solid evidence in an instant and explain the situation. There is no reason to complement the explanation with an evidence-free speculation.