World
Swarajya Staff
Sep 10, 2016, 11:42 AM | Updated 11:42 AM IST
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Once the ideal socialist state for Communist party apparatchiks across the world, Venezuela has fallen on hard days. The oil boom and deficit fuelled economy has collapsed leading to run away inflation, massive unemployment and food shortages across the country.
The socialist experiments of widely celebrated Hugo Chavez and his successor Nicolas Maduro have completely ruined the Venezuelan economy. Inflation peaked at 720%, the country has been forced to import oil despite holding some of the world’s largest oil reserves and lines outside grocery shops are growing by the day.
Here is a short four minute video report, put out by the PBS news hour, that captures the sheer human tragedy caused by the country’s Leftist leaders.