Venezuela has had a real shit week


On the 1st Venezuela held its widely publicized Constitutional Assembly election. There is a large speculation of fraud, as there were 3.7MM votes in at 5:30 PM and the official government report stated there was an 8MM voter turnout – this would suggest 4.3 million votes came were amassed in an hour and a half (electoral cut-off is 7 pm.) The election contained virtually only supporters of the Maduro headed government, and for that reason, the opposition was working in protest – to abstain from voting entirely. Maduro fought against this by making sure that any of the countries 3 million government employees were fired if they did not vote.

Hours after the vote, two opposition leaders were physically removed from their homes. Now as Maduro has an absolute rule with a freshly re-written Constitution that gives him unlimited power, things have become substantially more violent and volatile. The more the government attempts to suppress the opposition, the more the opposition grows. The economy continues to tank as the GDP total is 35% smaller than it was in 2013. One US dollar is currently worth 10,389 bolivars, and economists predict inflation could reach 1,600% by the end of 2017.

“These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela, and Argentina, where incomes are actually more equal today than they are in the land of Horatio Alger.” – Bernie Sanders


Curious about how Venezuela ended up where it is? Check out this article we wrote about it.

You can read more from Vinny Marshall on Think Liberty here.


Please enter your comment!
Please enter your name here