On January 10,  President Maduro is set to take office for the second time. Whether he should or shouldn’t or whether it’s legal or not is a discussion I’ll leave to Constitutional lawyers and politicians. Right now I want to focus on facts: the Venezuelan economy has collapsed, and while President Chávez lit the flame of its destruction, Maduro is responsible for doing nothing to prevent it and has added fuel to the fire. Here are eight public and indisputable facts about the failed government of Maduro who, during his second term, will undoubtedly keep on fueling the crisis.

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24 COMMENTS

  1. But, just how much worse off, materially, is the average barrio dweller? The big difference is, now he doesn’t have an in-your-face Bourgeoisie, partying like there is no tomorrow, constantly reminding him that he is one of life’s losers.

    IOW, I am not that sure Maduro would lose a legitimate election. Yet.

    • Maduro calculated that the chances of losing a legitimate election were high enough to forbid Capriles/Leopoldo et al (?) from running in the most recent “election.”

  2. The fact that the populous voted for a man who was extremely sick in the first place and had started this whole mess.
    The fact that the writing was on the wall when key party members were clear that the main goal of the government was to level the playing feel to make everyone poor was another.
    The fact that the populous voted for a bus driver with no experience in managing a complex economy says a lot.

    Those three statements pretty much wrap up the reality of what the root causes are to this mess. From a social science perspective in my mind, it was very clear the populous was maneuvered into a corner based on ignorance and divisive psychology. Almost like people weren’t paying attention to what was really happening and just let it happen.

    • Sr. Acevedo, we’ll have none of that here, facts, in other words. The problem is that American oil companies are allowed to buy Venezuelan oil. Please try to keep up with the root causes of today’s Venezuelan disaster.

      BTW, my woman has “Acevedo” as one of her 14 apellidos.

      • “The problem is that American oil companies are allowed to buy Venezuelan oil.”

        This only became the problem starting on January 20, 2017. Before then, was something else …

  3. I have a chance of meeting lots of people from the poorer sections of caracas and I have yet to meet one who isnt totally dissatisfied with the regime and its performance , this very morning I met one , tells us how he struggles to get identified as a govt supporter just to have access to the food he needs to survive even if he despises the govt .

    • So Bill, I imagine you’d guess the guy would be in favor of a change of government, right? Do you think afterwards though he’d be in favor of one that does socialism the right way?

      • Senator, I don’t think your average joe around my barrio even knows the political differences between left and right. But they do know that this isn’t working and will vote for whomever they become convinced will do the best job for us. All off us, including the 80% who have been and always will be below the poverty line. It’s all about quality of life and right now no one here has that. Except the blood sucking maduristas that is. And yes Bill, you are right, people will do whatever it takes to feed their families. Especially if everyone else is doing it and it’s not illegal. I think most people want to do the right thing.

        • Marc, we may, in the end, disagree on this one.

          This is just my personal opinion, but the “right thing” to do would be to build an economy and environment that would allow the average Venezuelan the opportunity to hold a job that allows him to buy groceries and clothing for his family, pay for housing, cover transportation, medical bills, etc.

          Please excuse my jaded view of the current situation, but I no longer see the average Venezuelan interested in holding a job. Are there Venezuelans who are hard workers? Absolutely. They’re just not the norm from what I see today.

          As for your comments about right and left, there we agree. I’ve often said that Venezuela’s “far right” would be considered left of center in the US.

          • Its very easy to destroy an economy, but also very difficult to buid an economy such as you describe , you will always have your slaggers and your hard working entrepeneurs , My fear is that even if you had the perfect set of demoratic market policies it would still be a struggle , the good thing is that to build a healthy economy you dont have to have a huge mayority of the hard working entrepeneural people and no slaggers. you need a portion of people who are natural capitalists and you have a reasonable chance of buidling a functioning economy evenif the slaggards dont dissappear. parettos principle applies .I agree that the average joe in venezuela is blind to the socialist vs capitalist ideological dispute , they will repeat the slogans but will not understand much …of what it involves. they just want the economy to function . Poll after poll done in the past shows that the vast mayority of Venezuelans believe that respect for private property and business is an essential part of a well managed economy ….of course they dont make as much noise as the other ones.

  4. At first sight I thought that those were Brazil’s figures, you know, Bolsonaro = Maduro, right?

    “Investors, stay away from Brazil because those far-right idiots are creating the next Venezuela in the continent.”

    That’s what I read here.

    Yet, what we witness is:

    — The Brazilian Stock Market (IBOV) setting record after record (today we have another one);
    Forbes: “Brazil is on track to be the best-performing market this quarter, if not in the first half of 2019.”
    https://www.forbes.com/sites/kenrapoza/2019/01/08/brazil-is-the-best-stock-market-in-the-world-right-now/

    — Brazilians abroad returning home because now there’s hope;

    — Investors abroad sending huge amounts of capital to the country, making the dollar fall daily;

    — Bolsonaro wanting to privatize “hundreds” of state companies; talk about fascism!;

    TOTALLY LIKE VENEZUELA! BOLSONARO TOTALLY LIKE MADURO!

    With that said, should Brazilians, fooled investors who lost a huge chance of making money because they believed you, and president Bolsonaro receive a MEA CULPA from CC, or is it too soon, and apocalypse is just around the corner?

    Thanks.

    • Don’t hold your breath for apologies or explanations from the cc crew my friend, (is this Marc by any chance?) this crew isn’t in the habit of offering either. But please continue to give us updates as to the improvements you are seeing on that half of the continent, it serves as “mirror backing” for us. You know the stuff that allows us to see ourselves in a hypothetical future.

    • Los buhoneros se niegan a irse del sitio. Dicen que ya basta con que la inflación cercene su sueldo, como para que además, las autoridades no los dejen trabajar.

      “No le estamos robando nada a nadie. Solo pedimos que nos dejen trabajar”, dijo uno de los manifestantes.

      The same shit is happening weekly in Punta de Mata, AG. Those who want to work, those who want to provide goods for the people who need them are instead forced to flee every time the GNB shows up because they (the GNB) claim they’re simply trying to take advantage of the situation to charge outrageous prices.

      Well, who the fark wants to work to lose money? The commerciantes surely don’t and even the average Venezuelan no longer wants to work because his salary doesn’t buy a damned thing.

      • Though I forgot to add. There’s ALWAYS a contigent present cheering on the GNB because they believe the buhoneros should somehow be fine with selling at a loss.

        • From what I read on Aporrea, there are many Chvista who believe not only should stuff be made available to them at “agreed to prices” but that shop owners, managers, employees and ayone else in the supply chain that does not do this needs to be put in prison with a stiff sentence to set an example.

          Not quite as serious as Vlad Lenin, who wanted their corpses swinging from lampposts and trees, but these people apparently believe that there is plenty of products available to be sold to them at “agreed to” prices, all stashed away in secret warehouses or something. They are delusional.

  5. With a little effort Caracas Chronicles’ readers we can reach 100 facts describing the ongoing tragedy that goes back two decades. Here is my contribution:

    FACT N° 9: THE COUNTRY RANKS 169 OUT OF 180 COUNTRIES IN THE LATEST TRANSPARENCY INTERNATIONAL’S CORRUPTION PERCEPTIONS INDEX.

    FACT N° 10: THE OPPOSITION-CONTROLLED NATIONAL ASSEMBLY ESTIMATES AT LEAST 450 BILLION DOLLARS HAVE BEEN EMBEZZLED DURING THE 20 YEARS THE REGIME HAS BEEN IN POWER. This amounts to about $14,285 stolen from each and every one of the 31.5 million Venezuelans living in and out of the country. A worker paid the minimum wage would take 186 years to earn this amount at the official exchange rate.

    FACT N°11: THE AMOUNT ALLEGEDLY MISAPPROPRIATED IS 2.4 TIMES GREATER THAN THE VENEZUELAN FOREIGN DEBT. This suggests that if the misappropriations had been held in check there would have been no need to borrow from foreign creditors.

  6. What ever happened to the Venezuela gold savings certificates introduced on Sept 11, 2018? And what liquid asset can they be changed into? I hope it isn’t Sovereign bolivars – certificates were bought at 60 Bv to the dollar, Bv is now 2100 to the dollar 4 months later. Do you just get your gold, which was securely deposited in the central bank?
    And what happened to the 6 gold bars on the desk in the illustration this article? So many questions …
    https://venezuelanalysis.com/news/14027

  7. Two more facts to add to the list:

    FACT N°12: SINCE OCTOBER 2017 THE REGIME HAS DEFAULTED ON 61 PAYMENTS OF DEBT TOTALING $9.2 BILLION. As a result Venezuelan debt is fluctuating at around 25 cents to the dollar. (https://www.bloomberg.com/news/articles/2018-12-26/venezuela-bondholders-gearing-up-for-battle-after-futile-year ).

    FACT N°13: IN HAPPINESS VENEZUELA RANKS 82 OUT OF 155 COUNTRIES. Leading Latin America, Costa Rica ranks n°12 in this study made three years ago; following in a close pack are Chile (20), Brazil (22), Argentina (24), Mexico (25), Uruguay (28), Guatemala (29) and Panama (30). The study also lists the Changes in Happiness from 2005-07 to 2014-16; some countries increased their level of happiness in this period while others decreased. Venezuela is last on this list with the greatest decrease in happiness in this period of the 126 countries studied. Here’s hoping Venezuela will be first on this list in the next study.
    (https://s3.amazonaws.com/happiness-report/2017/StatisticalAppendixWHR2017.pdf ).

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