When it rains, it pours. And it is pouring on Venezuela’s
economy right now. Even though the country boasts of huge oil reserves, the
government can barely pay its bills. Oil prices have plummeted from their
all-time highs, which contribute to the government’s lack of funds. Of course,
the main problem in Venezuela is not relatively low oil prices. The problem is
political. The problem is an out-of-control socialist government that panders
to the poor while making the poor poorer. The problem is that the government
will not allow any semblance of the free market to work. More…
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