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The collapse of Venezuela, explained

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The country is in chaos, but its leaders aren't going anywhere. Correction at 1:58: It’s been brought to our notice that the Supreme Court tried to strip the country’s National Assembly of its powers in March 2017 and not 2016. We regret the error. For more on the Supreme Court ruling: https://www.vox.com/world/2017/5/1/15408828/venezuela-protests-maduro-parliament-supreme-court-crisis Sources: 0:56 https://tradingeconomics.com/venezuela/inflation-cpi , https://tradingeconomics.com/venezuela/consumer-price-index-cpi , http://www.imf.org/external/datamapper/[email protected]/OEMDC/ADVEC/WEOWORLD/VEN?year=2017 , https://en.wikipedia.org/wiki/Crime_in_Venezuela#/media/File:1998_to_2013_Venezuela_Murder_Rate.png https://www.reuters.com/article/us-venezuela-economy-forex-idUSKBN1AP2LM 1:25 https://www.scribd.com/document/354981596/Datanalisis-Informe-Omnibus-Julio-2017-ODH-Consultores#from_embed (Page 22) http://www.datanalisis.com/ 1:54 https://www.wsj.com/articles/maduro-s-allies-stack-venezuelas-supreme-court-1450912005 3:27 https://www.eia.gov/todayinenergy/detail.php?id=24432 3:44 https://commons.wikimedia.org/wiki/File:Venezuela_Poverty_Rate_1997_to_2013.png 4:00 https://www.economist.com/news/finance-and-economics/21720289-over-past-year-74-venezuelans-lost-average-87kg-weight-how 4:40 https://www.cato.org/research/troubled-currencies?tab=venezuela Subscribe to our channel! http://goo.gl/0bsAjO The collapse of Venezuela and President Maduro's rise to dictatorship. Venezuela was once the richest country in Latin America. It has the largest known oil reserves in the world. And its democratic government was once praised world wide. But today, Venezuela’s democratic institutions and its economy are in shambles. The country has the highest inflation in the world, making food and medicine inaccessible to most Venezuelans. Over the last four years, its GDP has fallen 35%, which is a sharper drop than the one seen during the Great Depression in the US. The country’s murder rate has surpassed that of the most dangerous cities in the world. These conditions have sparked months of protests against the president, Nicolas Maduro. And it’s easy to see why: the country has become measurably worse since his election in 2013. Vox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com to get up to speed on everything from Kurdistan to the Kim Kardashian app. Check out our full video catalog: http://goo.gl/IZONyE Follow Vox on Twitter: http://goo.gl/XFrZ5H Or on Facebook: http://goo.gl/U2g06o
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Text Comments (12722)
D Scott (1 hour ago)
Socialism. There - I saved you 7 and a half minutes.
Branon Fontaine (7 hours ago)
How's that socialism workin out there Venezuela?
breckandy (9 hours ago)
The biggest problem in Venezuela is they are sitting on Oil that belongs to the US and International oilmen and they are not cooperating in giving it up. It's just like Iraq, Iran, Syria, Libya, Yemen. You don't play, you pay.
Tim Bautz (10 hours ago)
You voted these people into office. You got what you asked for
BlackBeltValeTudo (11 hours ago)
Box scapegoated the previous president implementing socialism that led to Meduro's election
Michael Rodrigues (14 hours ago)
Saved you a click: USA
CA C (17 hours ago)
Anthony Miller (18 hours ago)
SOCIALISM JUST DOESN’T WORK!! No matter the circumstances!
Arabian boi (19 hours ago)
Let's just hope it doesn't become a us puppet
Uncle Ruckus (20 hours ago)
socialism sucks ass. Thats what i teach my kdis every day
The Man (21 hours ago)
Andy Williams (1 day ago)
It's almost like nationalizing the economy is a bad idea...
OkWill (1 day ago)
I’m so glad most Americans aren’t stupid enough to fall into the socialism trap.
Tripod Threefoot (1 day ago)
Bullshit, your report says nothing about the U.S. destabilizing this country, nothing at all, the same way they murdered Chavez.
David Williams (1 day ago)
How many of these people voted for socialism by voting for Chavez. A lot of them I would imagine. They got what they deserved. It's a hard lesson for them because once socialists fain power they never want to give it up. Like the Soviet Union, in usually collapses from within as Venezuela is doing.
Azrael ben abraha (1 day ago)
schmidt235 (1 day ago)
There seems to be a key word omitted from this piece...and that word is Socialism.
EspoJason (1 day ago)
Then why did he win reelection
Gabonzo (1 day ago)
"Communism and socialism work: my professor told me so!" - every 20 year old idiot who voted for Clinton or Sanders.
ekpurdy (1 day ago)
What happened to Venezuela? Socialism. The end.
2022Sean C690 (1 day ago)
He looks like Joseph Stalin
Eric Newton (1 day ago)
I love how Vox has done zero to explain the fall of Venezuela, acting like its just a victim of circumstances. Venezuela was taken over by Democratic Socialists who aren't so Democratic in Chavez and Maduro. The latest Socialist experiment, conducted in Venezuela, is just another reminder that Socialism doesn't work. Capitalism even with its flaws, is still the best system for lifting millions of people from poverty by having respect for the individual and his work. Governments that acknowledge this and respect private property rights are the only ones that thrive.
Joe Michaels (1 day ago)
Who else here is surprised that American liberals aren't calling for the U.S. to intervene in that socialist sh*thole?
Alejandro Rodriguez (1 day ago)
Its clearly a dictadorship
Defmer Koçak (1 day ago)
Hi from tutkey.same storry wake up.all cia game.
Finn Watson (1 day ago)
reason: s o c i a l i s m
omar fierros (1 day ago)
I can tell you where they went wrong, when they choose communism/ so socialism over capitalism and democracy.
Igor Cássio (1 day ago)
funny, but what about American suppression? has a lot of infiltrators and lobbyists all over central america and south america. the US government and its hidden imperialism, all are guilty. Venezuela, Iraq ... Strange the US always have problems with countries that have reserves of oil. You are the heroes of the world, congratulations.
Andres Kargar (1 day ago)
Venezuela colapsando? igual que Chile Chile en 1973? Si en la mente de gusanos como Pinochet y vendepatrias que por el conflict entre el imperialism y Venezuela ya no podran conseguir sus visas para irse de vacaciones a Florida. Les aseguro que el pueblo heroic y el gobieerno revolucionario no lo van a permitir.
Jake Stonebraker (2 days ago)
I'm sure Venezuelans wouldn't call Hugo Chavez a beloved leader.
kingShango Sativa (2 days ago)
Why westerns apologists are so danm stupids and morons.??? Ain't nothing wrong with socialism, the problem like always are the "external forces" Wich plot to take it down. #stopthefuckingbullshit
Raoul Cruz (2 days ago)
You might be correct, Vox. But, the incessant background drama music made this video annoying to watch. Quit watching after 3 minutes.
Edward Barros (2 days ago)
This is how liberals talk Circles around the truth. Socialism did this, and the democratic liberals in the USA want the same to happen here. If you don’t believe me, checkout the progress they have already made in Detroit, Baltimore, California. Any big democratic run location is not far behind Venezuela. Keep voting democratic, and this is our future. You will really feel the burn then.
High Glider (2 days ago)
We are all humans and humans are responsible for our own actions.
High Glider (2 days ago)
Socialism did this? I haven't met that person.
Whitey Got Blacked (2 days ago)
Tonyrayray (2 days ago)
They want the freedoms and rights to which the wealthy were denied. That is irony at its best
Tonyrayray (2 days ago)
What do they want? The rich were blamed for the inequality. They have left. Everyone is equally wealthy now. They have more bolivars then they did 10 years ago. This is socialist utopia.
Sorry socialism did this. And it will ruin any country that embraces it.
Erick Bales (2 days ago)
Lmao! Trying to blame the current dictator so as to not blame the actions that caused the collapse. Socialism has never and will never work!
BC Senior for Panama (2 days ago)
That is what happens when you make a former bus driver your president or a part time drama teacher your prime minister. Totally unqualified to lead.
John John (2 days ago)
anyone seen sean penn?? danny glover?? Samuel L. Jackson?? etc.
John John (2 days ago)
anyone seen sean penn?? danny glover?? Samuel L. Jackson?? etc.
eden anshar (2 days ago)
comunist nation for sure
Drew Dash (2 days ago)
Socialism is so beautiful in its true natural habitat of utopia
C_Dragon0911 (2 days ago)
The price of Free college, Free healthcare, Free housing, Free, Free, Free, and Free... People chose this by giving the Government complete power! The government will give you Free, and the government can take it away. You lose your freedom for the word FREE. For all millennials. Socialism eat itself.
Drew Dash (2 days ago)
Hammer Sandoval (2 days ago)
Ask Trump for help, too easy. 🤣🤣🤣👍👍👍🦅🦅🦅🕊🕊🕊
erdem e (2 days ago)
if you don't have democracy you don't have good economy either..We don't have democracy in Turkey in these days and economy is collapsing.One man (Erdogan) control everything.Supreme court,national assembly ,government ,military etc..
Phil Perri (3 days ago)
The collapse explained? The explanation is socialism is the biggest con in human history and it doesn't work. Name one country where it has worked.
GMAID G (3 days ago)
Another fine example of Socialism in action
b long (3 days ago)
Good job, Vox. You forgot to mention the SOCIALISM...Vox is such a rag....
David Ko (3 days ago)
Say ty to Socialism . Dont belive this vox propaganda .
nikolasao (3 days ago)
Dependency on oil and Maduro who is a complete clown caused this. Not socialism. Socialism works in Scandinavia, in Canada and other developed nations.
Gregory Everson (2 days ago)
Canada is not a socialist country
Aaron Beauchamp (3 days ago)
As usual the social socialist apologists will say this wasn't real socialism and socialism will work. Then they'll D cry capitalism and talk about all the evils of capitalism. No doubt corruption exist in Corporate America, but corporations can't come into your home confiscate your money take your guns and demand you buy their product. This is socialistic failure at its worst. Yeah let the government take care of you. That always works right?
TMB247 (3 days ago)
Vox is Crap! Soros won't allow the Truth
Orhun zahiroğlu (3 days ago)
%80 opposed him but %45 percent voted for his constituency reform for continuing countrys socialist (like) path. İts not true.
I am Chappy (3 days ago)
Dont forget to mention he is a socialist
Elizabeth De Jesús (3 days ago)
*Por líderes blasfemos y la idolatría* Dios condena la blasfemia y la idolatría. Dios proteja y bendiga a su pueblo y a las familias, que le buscan en verdad. Cómo van a olvidar que Jesucristo es el único salvador y mediador al Padre, digno de adoración. Cómo dice la biblia: Adorando a dioses de Asera que no tienen poder y son fundados por mano de hombre. Maduro! Arrepiéntete! porque por tu culpa el país está así y por la idolatría al Hugo Chávez. Dios no comparte su gloria!
Norbert Müller (3 days ago)
this are the friends CNN destroy the United Staates
Sanchit Jain (3 days ago)
Well Venezuela people are stupid!
Karl Burgdorf (3 days ago)
Well, you didn’t explain anything. But we all know why anyway.
Justin Lee (3 days ago)
Norway nationalized it's oil but it hasn't had the US try to overthrow their government and put sanctions on it. I'm sure Venezuela is actually corrupt but I do wonder how much of their issues are caused by the US intervening.
The Institution (4 days ago)
Strange, when it was Chavez leading, this country was an example of ''Socialism Success''. Now, it's not a failure of Socialism (like in every instance in history), but. it's Maduro's fault.
Darth Vader (4 days ago)
i have idea..this will solve the problem..why cant america lift off ambargos...all fine see
Walter Fields, Jr. (4 days ago)
🙏🏽🙏🏽 🙏🏽
SAM N (4 days ago)
Feeling very sad for Venezuela Gos bless to recover from this situation.
Fernando Solis (4 days ago)
I see maduro dying in the hands of the people just like gaddafi did....
PIES OVEN (4 days ago)
Vox forgot to mention its SOCIALISM....thats the problem, no free market.... they also forgot to mention the ENTIRE PLANET HAS SANCTIONS on them, is this grade 4 level economics? SAD!!!
Tofflemire5 (4 days ago)
Advocates for socialism are either evil or stupid. Take your pick. I'd say most are just stupid (uneducated, easily swayed, bad at history, sheeple of the left-wing media, etc.)
Troy Yanda (4 days ago)
Wait......what? I thought you soy boys were "pro-socialist
Thoughtful Peasant (4 days ago)
Demographics is destiny
Onehappydawg (4 days ago)
Down with Socialism!!!!
Fernando Escalante (4 days ago)
It’s called socialism and populism and it doesn’t work
dancingkitty11 (4 days ago)
Kristi Gator (4 days ago)
Vox wants socialism in America so they sugarcoat the suffering it brings.
Freddy Sultan (4 days ago)
At the time of this documentary as noted, the Bolivar-currency in the Black Market was at Bs.12,700.00 per Dollar now it is at aprox. 4 Million (August 2018). Lesson for every one in this world, This what Happens in what They call Socialism of The 21 Century.
UN Charter Art. 2: 3 All Members shall settle their international disputes by peaceful means in such a manner that international peace and security, and justice, are not endangered. 4 All Members shall refrain in their international relations from the threat or use of force against the territorial integrity or political independence of any state, or in any other manner inconsistent with the Purposes of the United Nations.
James Williamson (4 days ago)
More neoliberal distortions and outright lies from Vox, yet another mainstream media propaganda arm of the Washington State Department (Vox is NOT an alternative, critical or reliable source of information). Even the globalist New York Times admitted that the US's sanctions have hurt Venezuela terribly in the US's bid to gain control over the Venezuelan economy. It's always the same ruse. The US goes in, creates dissent and outright chaos in the streets, not even to mention the two CIA coup attempts against Chavez, that is, before he was most likely murdered (and one of those coup attempts succeeded, but only temporarily for a few days). What Vox also doesn't tell us is that Petróleos de Venezuela is the government-owned parent company of Citgo and that the US wants to free the US subsidiary from its parent, by hook or by crook, and by violence whenever required, as it seeks greater control of Venezuela's economy, banks, currency, and as it struggles to save its own rapidly failing petro-dollar. The US government, in its neo-imperialist bid for control of Central and South American economies, doesn't give a crap about the Venezuelan people, any more than it gave a crap about the 1.2 million innocent Iraqi men, women and children it murdered outright in its bid for further control of Middle East and Eurasian economies, or anymore than it gives a crap about the Yemenis it currently is assisting in killing, starving and oppressing. As soon as it is able, it will install its own puppet leader as head of the Venezuelan government, just as it always does. It's easy to find complainers and dissenters on Venezuelan streets (especially when they're paid and funded to do so, as it is in every one of these intended destabilizing situations created and fostered by the US. If the US government didn't have a greedy corporate interest in Venezuela's oil (as in any other country) everyday ordinary Americans would never hear about any of Venezuela's struggles (or successes). And just like US Americans who have NO geopolitical or world view of the realities of competing world economies and currencies (only a distorted domestic understanding and view), they, like the Venezuelans, will be led like sheep to the neo-liberal corporate abattoir and, hence, their subsequent impoverishment and slaughter.
Tom smith (5 days ago)
Hardly surprising when its run by a vile Socialist/communist Government.Were ever Socialism rules it brings poverty and chaos.Happily not many countries are ruled by Socialists now.
Jimbob2783 3 (5 days ago)
Venezuela needs to be a free country it needs democracy and it needs capitalism love from the UK 🇬🇧
Jimbob2783 3 (3 days ago)
There will be a day someday someday......
Tom smith (3 days ago)
I wonder if there will ever be a day when all the world realises how destructive and evil Socialism is.
Jimbob2783 3 (3 days ago)
Doesn’t just destroy people’s lives it kills people's lives you are so right
Tom smith (3 days ago)
Yeah exactly Jimbob2783 3 we will never accept Socialism /Communists ever again.It destroys peoples lives as you obviously know.
Jimbob2783 3 (4 days ago)
Yeah that’s right but at least the people of the UK are waking up that’s good
38snubby (5 days ago)
Same thing is happening with the US supreme court.
paul06660 (5 days ago)
Blame it on socialism all you want. But this whole thing sounds very similar to what is going on in the US right now under Trump and the GOP.
No Name (5 days ago)
Socialism has nothing to do with Socialism
Tom smith (5 days ago)
Socialism has nothing to do with anything except poverty and chaos No Name
User Use (5 days ago)
Very good reason and excuse for the USA to invade Venezuela so we get to keep their oil
jbnugw Nugweze (5 days ago)
God help you my brothers from Venezuela ! terrible
HYAAAK!!! (5 days ago)
Thanks SOCIALISM!!! 💪👍👌👏👏👏👏
Benjamin Dokovic (5 days ago)
Venezuela needs a Pinochet
Imperialx Warlord (5 days ago)
See a country or region go socialist is like seeing that one person in school saying that nothing bad will come from using hard drugs...then you see them a few years later in a box begging for cash.
Imperialx Warlord (5 days ago)
iTS Not rEAl SoCiaLISm GUyS
Austin The Terrible (5 days ago)
I pause the video before even starting it to predict what the commentary will be. Will it even mention anything about socialist policies that affected the state? Probably not.. Let's see..
Yellow Fellow (5 days ago)
this is what happens when the state gets too much power. And still 1/4 of university professors are marxists.
HugenPug (5 days ago)
Watched the whole video and they wont even talk about what actualy ruined the country... Socialism
John Smith (5 days ago)
yeah this is real socialism. not the utopia that the left in America is pushing....
Fatima Alawissam (5 days ago)
Socialism at its best!!!!!
MyXxx77 (5 days ago)
"President Maduro's rise to dictatorship"? Hahahaha... he was handed a dictatorship by Hugo Chavez. The now dead Venezuelan Socialist dictator. Something you can always actually get for free Venezuelans is advice - The next time a "Democratic" Socialist like Chavez or Bernie Sanders or Elizabeth Warren tells you they can give you "free stuff", kick 'em right where the sun don't shine and tell them to p*ss up a rope. That's why we Americans elected Trump.
MyXxx77 (5 days ago)
How many of the people interviewed helped to put the Socialist Chavez in power in the first place? Venezuela's downfall began with Chavez. It was Chavez who took control of industry away from the private sector (stealing facilities built and owned by Mobile Exxon in the process) setting up a government run economic system that couldn't possibly sustain itself. Just as people like Bernie Sanders and Elizabeth Warren would do here if they could.
JUKEBOX JAMZ (5 days ago)
They voted for Hugo Chavez and his regime lead the entire country into chaos. So what do you think of Socialism now? Socialism always leads to dictatorship,sad turn of events...
A (5 days ago)
One of the richest nations in the world and look now. God help Venezuela 🇻🇪
James Dunn (6 days ago)
A diversified economy is very important to a nations health. A one trick pony can and will fail when things turn downward. Socialist or not.
Tim Bassett (6 days ago)
USA buys lots of Venezuela oil. Yes even now.
Tim Bassett (6 days ago)
A lot of ignorant people have no idea of what is really going on.
Not enough Muslims in Latina ..CIA cannot invent Islamic terrorist groups there.

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