Venezuela’s recent history has been fraught with political corruption, mismanagement and decline. With Venezuela’s elections just around the corner, U.S. investments — and Venezuelan citizens — are continuing to flee the country.
Watch the above video as Straight Arrow News contributor Peter Zeihan warns that the worst for Venezuela is yet to come, and why he predicts the total collapse of the Venezuelan state within only the next few years.
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The following is an excerpt from Peter’s June 12 “Zeihan on Geopolitics” newsletter:
After years of mismanagement and corruption, Venezuela may have finally reached its tipping point.
A country that once boasted high education levels, cultural achievements and a thriving oil industry, has managed to turn a winning hand into a losing one. Leaders like Hugo Chávez and Nicolás Maduro helped lead the country down the path of collapse.
At this point, the only thing keeping the country afloat is the partial lifting of sanctions by the Biden administration; however, the continued neglect is leading Venezuela’s oil industry towards failure. Without skilled labor or a major company to step in, we could see Venezuela become a net oil importer within a year.
Once the oil goes, so does everything else. We’re talking economic woes, societal dislocations and famine.