Despite having more oil reserves than Saudi Arabia, and in fact more proven oil reserves than any country in the world (8 times more than the US), oil-rich Venezuela’s economy is imploding and collapsing under the burden of socialism, and economic conditions there have deteriorated so dramatically that they probably now qualify as the “economic apocalypse” that some left-leaning economists were predicting just a few years ago would never happen in Venezuela.
Enjoy the article links that describe the clusterfuck.
Yeah, American leftists loved Venezuela as the latest great socialist hope.
But socialism has destroyed Venezuela (or do you really want to argue that plots by President Obama destroyed the country?).
Because war and natural disasters aren't always enough to wreck a country.
UPDATE: Bernie Sanders: Hey, wait! I was assured there would be no questions about socialism in South America!
Yeah, the reality is different from the mythology.
Tip to the Instapundit Borg.
