Already rocky from the global financial crisis, Venezuela
was nakedly exposed when oil prices started to collapse. By then, Chavez was
out of office (he died in 2013) but his successor Nicolas Maduro had none of
his charisma but all of his faults. He also had a greedy coterie of hangers-on,
and allegations of corruption became commonplace. Now, Venezuela is an economic
nightmare. Foreign investment has dried up completely; reserves have been
almost completely depleted; inflation is at the hyper level; and those who can,
are getting out. With a president who shows no sign of wanting to give up the
privileges of power, Venezuela looks doomed to suffer the ravages of civil war,
total economic collapse and social anarchy. That is Somalization. More…
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