Venezuela has become a popular argument against socialism amongst conservatives because of the deep economic crisis it is currently traversing. Defenders of the Bolivarian project, though, say that US sanctions and economic war are to blame for the crisis. Greg Wilpert presents an analysis that tries to take all the factors into account
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** (Disclaimer: This video content is intended for educational and informational purposes only) **
The MAIN reason for Venezuela's economic crisis was SANCTIONS PUT ON THEM BY THE USA!!..WHEN YOU CAN'T SELL GOODS YOU HAVE NO MONEY!!..TRUMP TRIED TO OVERTHROW THEIR GOVERNMENT!!
MISS GREG W. NICE CAR, NICE CONDOMINIUM COMPLEX, NICE HOUSE CLEARLY CIA PIG'S REPORTER (REAL NEWS= FALSE NEWS VERY NICELY DRESSED GREG W NEED THE DOLLARS PIG LIAR THESE ARE WORSE THE ALLENDE CHILE 1970
THE CLASSIC CIA ASSET NEWS REPORTS FALSE LIAR FACTS TWO ORANGES + TWO ORANGES = 4 ORANGES ( NOT APPLES!?)
[ VENEZUELA 🇻🇪 ) : YOUR [ ECONOMY] IS , A WELL , ( ORGANIZE PLAN 😎☠️😎 ) .!!!! . BY , OUTSIDERS, ( FORCES ) THAT , TRY , TO ( DESTROY YOUR , NATION ☠️ ) .!!!! . WHEN , TRUMP & CIA , PAMBIO , WERE IN YOUR , CONTRY .!!!! . ( THEY FIELD ) , THE FIRST = TIME .!!!! . THEY ARE AT , IT , AGAIN !!!! IN , ( 😎SECRET😎 ) .!!!!! . 😎💰💰💰💰💰💰💰💰😎👍…..TIME TO , WAKE UP .😳😢😢😢😳…WORK ON , A PLAN 📚.? .OR LOSE YOUR [ NATION & OIL ] …..
Can any one explain why there is a gap between the official exchange rate and the black market exchange rate? How does products being imported to the Venezuela without subsidies affect the gap? Why did USA apply sanctions what was the reasoning?
delusional
641 people like this video. are you insane? narco trafficking, unprecedented corruption, petro caribe, nationalizations of entire industries, land confiscation, business confiscation, alienation of western world, reckless defense spending. wilpert-
-did any of this cross your mind? or are facts irrelevant because your wife is a chavista. venezuela analysis and telesurpaid by chavismo. when you and your wife retire to miami how will you sleep at night knowing you annihilated a wonderful, properous country- and reported zero facts. sweet dreamsYou can't stimulate the economy at the same time you're nationalizing industries. That is not stimulation, that's just government spending. So what is the solution? Maduro must either step down or die. The problem is that whoever has the guns, has the power, and the military are still benefitting from the current regime, and as long as they are earning their salaries there is little motive to change, unless of course their conscience would move them to have compassion on their failing nation, which unfortunately rarely happens. Since when and where has force of conscience overcome the lure of the dollar?
The socialists think that reality should line up with their doctrine, but the free-market IS reality and it won't cooperate with anyone's false doctrine. Anytime price controls or currency controls are implemented, the outcome will first be a black market and ultimately the failure of the economy.
I've spoken to the refugees from Venez. in Ecuador. Their stories are real. Its not a result of US sanctions, which are mostly on the government millionaires benefitting from the kleptocracy, but from endemic corruption and poor management and nationalization of industries.
take care of your country trump u have begiers in America
You cannot keep an artificial exchange rate that is 1/100th of the street rate. You will end up wasting the whole government budget on subsidizing smugglers. Not to mention that it will destroy any non-oil industry that you have.
Americas politicians and public officials sell more drugs than any other nation in the world, many are complicate in every crime committed against other nations. Americas foreign policy agenda was designed to destroy more, than to build working relationships.
You don't mention that the conservative wealthy class of Venezuela have been conspiring to tank the economy so the Chavistas would be run out of town with the help of the U.S. Very important factor.
yes america..socialism is bad..just ask denmark, norway, sweden, finland, the netherlands etc..when will you be bombing them?..oh, they trade in the petrodollar so they are okay?..
"it's a humantitarian crisis"..how dare they have their own oil..quick..democracy bombs are needed…meanwhile in yemen..honduras..haiti..puerto rico..sad…there are more people starving and homeless in america than the ENTIRE population of venezuela…will america bomb itself?…it's all about the oil baby…
a very good and solide Analysis…
What this report above fails to reveal is that the “black market exchange rate” is set in the US, hence sabotaging Venezuela’s monetary stability, and by design. Venezuelan Foreign Minister Jorge Arreaza said as much weeks ago on camera to Democracy Now! in New York.
Chavez exactly knew we shouldn't be contingent upon oil revenues very much, because it is too fluctuating. And he exactly knew we had to diversify domestic industries into miscellaneous fields as well. It should take time especially for a country which had been under a mono industrial imperialism for centuries to do so.
But, he knew we had to undergo it, at any rate.
First of all, you can't develop anything really good when living in dismal cardboard houses hungry, as Confucius says, “Basic clothing, food and housing are prerequisite premise for decent education."
So, Chavez started to build houses. And then he invested huge mount of money for education. That’s no wonder his excellent decision.
Prior to that, Chavez convened a Constituent Assembly to draft a new Constitution. People throughout the country participated in drafting it, and that Constitution was put to a vote by referendum, and it was approved. People created their own Constitution by themselves, which is very important. Because, first of all, it formalized the rights of Afro Venezuelans for the first time in history, who had been invisible. And then they created the best electoral system in the world as Chavez oversaw it. Actually, they have established one of the most democratic countries in the world.
What elements have been trying to undermine it?
You can name that.
Dutch disease?
Probably, they may have some as well as any other nation has to some extent. So, it seems pretty nonsense to me that you cited “dutch disease” for the origins of Venezuela’s crisis.
Yeah, they could have by not imposing that stupid control exchange that at the end of the day all it did was kill the private industry (and therefore production) and cripple the adquisitive power of citizens by restricting their access to foreign dollars.
Other countries like sanctions like Iran have a huge inflation… But they come no where near the over 1000000% that venezuela has. That's because they are still a fairly capitalistic country that allows for the free market to take place. Venezuela on the other hand with it's socialist policies was a time bomb. The Goverments policies where not meant to increase economic production or reduce poverty, but rather centralize power and make people depend on the goverment
SIETE 2 SPORCHI
Oil production has been declining for decades. As soon as Chavez took over it started to drop. Blaming the US is a cop out.
So Venezuela benefited from the Iraq war? I guess as long as the US invades other oil-rich countries Socialism in Venezuela can work!
The oil revolution happened in Texas, not South America. Oil prices will never, ever be that high again.
I love how thorough this analysis is. There was a time in my lifetime where an analysis like this could be on a major US TV station. It is really horrible that at this point in time, a detailed and balanced analysis like this has almost no chance to be on mainstream media.
Amazingly impartial and objective video of the crisis in V. – Thank you!
When someone says "The pen is mightier than the sword", this is what they mean. In 2019 a room full of corporate lawyers and IMF bankers can do more damage than 10,000 soldiers.
The corporate lawyers and IMF bankers ARE the weapons of mass destruction. When they target your country it's the equivalent of a nuclear weapon going off / other large scale wmd.
These sick freaks clutching Ayn Rand's books are weapons of mass destruction, the very way they think is cancer.
socialism
Wealthiest. Countries n the world until U.S. sanctions!!
Unless people haven't noticed most of the developing world is in crisis also. From Brazil to Turkey, to South Africa.
Recessions happen in the Third World, in fact they happen ten times worse, the Great Depression on steroids.
And as we see from the First World, Social Democracy gets hit by recession just like more market orientated countries.
About time we knocked off the BS and just admitted capitalism always crashes, whether Keynesian or Laissez Faire – capital is blighted by instability, all the more so in the developing world.
As a venezuelan i have to say you Forgot to mention that Chavez was an authoritarian fake populist like trump, that controlled the army, elections and so on. That exchange restriction was the key factor that destroyed production and created hyperinflation because of all the bureaucratic corruption to get the dollars to get imports needed to produce. Maduro rigged the elections from opposition leader capriles in 2013 and again in 2019 banned leopolodo lopez. Maduro is a dictator as corrupted as chavez and he won't give up democratically unless the US brings the army and forces him. 80% disapprove of maduro
USraël is behind the problems in Venezuela …
Thank you for making this great video! It's hard to find news reports that don't misrepresent the Obama sanctions by failing to describe their actual effect on Venezuela's ability to conduct business.
What is Real Reason to Economy crisis?
That was the best, most informative and most concise video I've watched on the Venezuela issue. Thankyou
Tell America to stop the sanctions that’s hurting the people more than it’s hurting the government stop sabotaging the electrical system for basic needs for the people like electrical water sewage and keeping food fresh with refrigeration always talking about there to help the people but only doing thingsTo hurt the people to go against the government been playing this game for yearsThe real reason is for their resources and oil reserves just like they do when they go win or these other countries talk about regime change. Tell the real news, real news
If Maduro loves socialism, and is elected, and therefore, the USA has no right to interfere!
They screwed it up,
Let Maduro fix it.
He has all the money from that Oil/Gold!!
Great video. I did not know that Chavez did try to diversify the economy or that Obama was the one who started with the sanctions. It sounds like Venezuela economic problems started some time ago, even before the American sanctions. No wonder things got bad, and the sanctions is a part in preventing a faster resonable recovery of the economic system. Of course they do need to overhaul the economic system in Venezuela to get out of this mess once and for all.
I would die without air conditioning. Thank the heavens I’m American.
#Trump2020 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
There's nothing leaving Trump's mouth that resembles 'truth.' This man and the cabal that surrounds him are flat-out evil.
Obama was a black sellout. He impose sanctions on Venezula because his master's wanted that. That was the start of their plans to "liberate" the Venezulian people
Ok first of all, you arent an economist. Second, your analysis is subjective, not objective. third, very simplified description, not comprehensive and intended just for propaganda. Conclusion: lot of omission of data and lies.
The information is very good BUT It was read too bloody fast – was the reader in a competition to finish in less than 12 minutes??? There was not time to make sense of the information – It should have been read as if someone is giving a lecture with enough pauses for people to think and make sense. Please do it again m o r e s s l o w l y .
Guaido has admitted that he is behind the power blackouts and promised water and natural gas are next. Look it up and do your research like I did. Our media is lying and you fools keep buying their lies.
Humanitarian crises exist in places like Yemen or Central America, all being oppressed by Gringo imperialism.
Russia & China is intervening. Hopefully they can help. The US is both military & economic terrorists. No surprise Obama started this.
Rockefeller oil, and oil tankers were Captained by German S.S. commanders bringing John's oil under contract out to a secret island where S.S. U – boats were refueled. It depends how far back we go.
You all so stupid do real research ! #freeVenezuela #sos #CheGuevaraTerroristmurderer #liberals
30 billions lost to sanctions- U.S. is thugs, capitalism is theft. Take down the corrupt orange clown