By many measures, Venezuela is already a failed state. According to the Venezuelan Violence Observatory, a record 25,000 people were murdered in the country in 2014, the second-worse homicide rate in the world after Honduras. The U.S. government estimates that half of the cocaine produced in South America now moves through Venezuela — 300 tons a year — with the help of top leaders of the military and police. There have been deadly clashes between official security forces and the armed civilian “collectives” organized by the regime. And Wall Street has begun anticipating a Venezuelan default.
Reliant on oil revenue, Chavez managed to outdo even socialism in wrecking Venezuela's oil industry even before the recent price plummet for oil.
Yeah, it would have been horrible if that coup against Chavez (you'll have to scroll down to October 6, 2003 for that post) had succeeded back early in the Bush 43 era. And it would have been horrible if we'd have been involved as so many Hugo fanboys (and girls) alleged.