Inflation is said by Congress to be running at 140% a year.
Venezuela has the world’s biggest known oil reserves but the huge fall in oil prices in the past 18 months has slashed its revenues by 60%.
|Venezuelan’s waiting for Government food, Coming to America|
The ripple effects of low oil prices, a slowing Chinese economy and a very unstable world economy looks to have started with Venezuela and will spread across the globe.
And of course this is another example of what socialism does to a country that rejected the capitalistic system.
Angry Mobs and Rioting are not far behind.