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Amid US-Backed Economic War Venezuela s Wealthy Live in

As Venezuelans continue to suffer from the Washington-backed economic siege on the Bolivarian republic a small minority in the country has managed to retain a swank Indeed wealthy social layers in Venezuelan society have felt some discomfort from the inflation rate afflicting the country but theyVenezuela s large anti-government protests turned violent in the afternoon with mobs running from national guardsmen who fired dozens of tear gas canisters in the Altamira Today Venezuela s annual inflation rate is 112 189 yr. The chart below tracks the daily measurements of this annual rate.Venezuela Economic Bubble. People eat at picnic tables set up in front of food trucks in Caracas Venezuela Saturday Aug. The vast majority of Venezuelans live in deepening poverty without help from abroad. Roughly 80 depend on government-subsidized food and earn a monthly minimum Photo by AFP . The freezing of Venezuela s assets by the United States at a time when the Latin American country is grappling with economic crisis In a thumping speech broadcast live on national television on Sunday Maduro lashed out at both the US government and the Venezuelan opposition.Venezuelan Defense Minister Vladimir Padrino accused the United States of waging economic war on his country and warned a coup was underway after the US recognized opposition leader Juan Guaido as interim president. In a televised message on ThursdayThere will be war. Venezuela has been in Americas rifle scope for decades. This is the perfect moment for them to strike. Get out while you can. The head of Venezuela s armed forces has thrown his weight behind the embattled president warning that the country could be thrust into a devastating civilWith Venezuela s oil-dependent economy in a tailspin the newly elected administration of Carlos Andres Perez implemented IMF-backed austerity measures that included the removal of gasoline subsidies that were long considered a birthright in the oil-rich country. lived in Uttarpara West Bengal India. The US Spain Great Britain plus a good many others colonised Venezuela after the wars of independence. In the case of Venezuela the sole responsible for the economic crisis is the government itself which through unbridled ineptitude My neighbour saw me eating something that it was clear I d pulled out of a bin I was so ashamed says Samuel Dana. Then he asked which bin it was that I had taken it from. . In desperation Dana and his wife who live in one of Caracas many poor areasNow the economy has collapsed plunging Venezuela which has larger oil reserves than Saudi Arabia into one Despite their grumbles most of the country s wealthy live their lives in dollars. We are trying to make something unique here which is to put Venezuela back on the map says Esteban

But in the case of Venezuela and other states not governed by the free market this cliche simply doesn t ring true. Bolivarian Nicolas Maduro Oil Prices Americans have been trained by decades of Cold War propaganda to look for any confirmation that socialism means poverty. But in the case ofOr Venezuela is facing a coup backed by US imperialism with clear designs on the country s huge oil And make no mistake - despite the much publicised US sanctions the economic crisis in In a recent television interview Maduro blamed the supposed economic war when asked about a rate ofNeoliberalism or Death The U.S. Economic War Against Venezuela. Venezuela s Vice Foreign Minister Carlos Ron former U.N. rapporteur Alfred de Zayas and journalist CR Some of the people that were at least involved are either living in the United States you know we send the paperworkIt calls for further violations of Venezuela s sovereignty by the U.S. rulers. One crushing effect of U.S. sanctions that block oil exports and imports of chemicals and parts to run Venezuela s Washington s assaults on Venezuela are deeply tied to its decadeslong economic war against the Cuban Revolution.These sanctions limited Venezuela s oil exports and prevented its access to international financial institutions. The reader is meant to assume that Venezuelans are waiting for the US-backed Guaid to save them from their dire situation. There too she downplayed the role of the US economic war heaping most of the blame onto the Venezuelan government. This is the world we live in.In Venezuela the government of President Nicol s Maduro and the opposition are engaged in a bitter power struggle. The South American country has been caught in a downward spiral for years with growing political discontent further fuelled by skyrocketing hyperinflation power cuts and shortages of2014 Venezuelan protests. 127 A once wealthy country Venezuela s economy was driven into political and economic crisis by corruption and A UN report estimated in March 2019 that 94 of Venezuelans live in poverty and that one quarter of Venezuelans need some form of humanitarianThe US sanctions have been intensified since the failure of the US-backed attempted coup of Juan The financial sanctions we have placed on the Venezuelan Government have forced it to begin US-based Citibank financial institution refused to accept money Venezuela was depositing to pay forVenezuela s descent into economic and political chaos in recent years is a cautionary tale of the dangerous influence that resource wealth can have on developing countries. According to a recent survey 96 percent of Venezuelans live in poverty the highest proportion in Latin America.Venezuela has also described US sanctions as illegal. In 2018 foreign minister Jorge Arreaza said they were madness barbaric and in absolute contradiction to When I come and I say the emigration is partly attributable to the economic war waged against Venezuela and is partly attributable to the

The US think tank Atlantic Council who hosted Guaid this week states directly that US strategy must focus on containing Russian influence in Venezuela since it cannot end it. It advocates for a greater presence of Western companies to counter Russia once all sides are engaging with a transitionalVenezuela s fall is the single largest economic collapse outside of war in at least 45 years economists say. It s really hard to think of a human tragedy of this scale outside civil war said Kenneth Rogoff an economics professor at Harvard University and former chief economist at theVenezuela is suffering the worst economic crisis in its history. Ordinary people in the oil-rich country are regularly going without food. But in 2015 the oil price was cut in half and Venezuela s reckless public finances helped make it a high-risk debtor cutting the country s access to international capital.The economic collapse in Venezuela is an unfortunate real-time lesson that can help us prepare for the future if we are willing to evaluate the situation. By Daisy Luther. Venezuela is out of food. After several years of long lines rationing and shortages the socialist country does not have enough food We re not at war and we re living worse than in a war case Becky Jordan a private school teacher in Caracas Venezuela s economic woes are exacerbated by water and fervency shortages. Maduro has tried to reduce the country s consumption by cutting back the at liberty week to just two days forVenezuelan President Nicolas Maduro and opposition leader Juan Guaido are vying for control of the country. The violence added to the ongoing economic and political crisis in Venezuela. Maduro called it a US-backed coup. Days later the US sanctioned Venezuela s state oil firm while GuaidoVenezuela boasts the largest oil reserves of any country in the world. Yet today it is facing the worst economic crisis in its history. In other words it wasn t being put back into the nation in terms of infrastructure. The result of all of this - and what more or less led up to the current economic crisisDiego Sequera a Venezuelan journalist and writer for the investigative outlet Mision Verdad He now lives in Washington D.C. where he was hand picked by Secretary of the Organization of American Both militaries defeated the US. Even though the US has far superior arms and forces numbers theyBefore we examine Venezuela s economic performance during the Maduro presidency it makes Just like today already back then oil exports made up over 90 percent of Venezuela s export Between 2000 and 2008 he lived in Venezuela where he first taught sociology at the CentralVenezuela s economy would have seen a 50 percent contraction over the course of the past five years putting it among the world s deepest economic Approximately 4.78 percent of Venezuelans now live in extreme poverty according to the latest official statistics. That figure is slightly lower than those