Venezuela is not in danger of becoming a
failed state any moment, but it is going to become one if nothing changes. Even
if oil prices go back up, it won’t be easy to get inflation in check, or to
grow the economy back to where it was before. At best Venezuela experiences
some unrest, at worst the state fails and a civil war unfolds. We are not ready
for the worst case scenario. A failed Venezuela could send refugees into
Columbia and Brazil, two countries that have their own problems to deal with
without the added complication of refugees. Many of these refugees, potentially
millions, could make their way to the U.S. More…
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