Why Venezuela's Economy is so Terrible

Comments · 4.8K

• CA

  @CasualScholar · 4 years ago · pinned

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• MI

  @mikehurt3290 · 4 years ago (edited)

  Basically Venezuela is like a person who wins the lottery and spends and spends thinking that the money is never gonna end until it does and now they&apos;re at rock bottom with no savings

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• EN

  @enngoogle · 4 years ago

  As someone who has the disgrace of existing in venezuela, let me praise you for being spot on. Most people, even world-class economists usually don&apos;t make the slightest mention about capital controls created during the bolivarian regime which easily is the principal cause of this disaster.

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• PE

  @petergohan · 4 years ago

  Venezuela could&apos;ve been like Japan, if only the politicians were better, they would use the oil money to invest heavily in education and incentives to entrepeneurs and inventors, this would create a lot of big companies that could diversify the economy, and then, when the oil prices dropped, they wouldn&apos;t feel it so heavily as they have. They became slaves to oil, and not used it to their own benefit.

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• EN

  @EnriqueLaberintico · 8 months ago

  We all know why we&apos;re here.

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• GE

  @geografisica · 4 years ago (edited)

  As a Venezuelan myself, I can say that this is the most accurate video in English I’ve seen about my country’s economic reality during the XX and XXI Centuries. Thank you so much for showing our reality. Sadly, the World doesn’t understand the roots of our problems and always biased people prefer to say that it was the US the responsible of our failures, but NO!!! It wasn’t the US, We the Venezuelans are the only responsible of our failures but I have hopes that after this crisis, the new generations will finally do it better, forgetting oil and taking advantage of tourism because beside floating on oil, Venezuela was blessed with natural landscapes that are among the bests and most beautiful in the World.

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• BO

  @bobbatons1720 · 4 years ago

  A lot of the things said here, about the economy I mean, are also true for Greece. Instead of oil money, we had EU funds.

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• IS

  @iszotic · 4 years ago (edited)

  Hi, as a side note, the neighbor Colombia, a country with way fewer reserves, has actually more oil output than Venezuela now.

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• JI

  @jillpatton3432 · 3 years ago

  One correction. &nbsp;Venezuela isn&apos;t the poorest country in Western hemisphere. &nbsp;That distinction falls to Haiti.

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• AN

  @answerman9933 · 4 years ago

  Venezuela &nbsp;is an example &nbsp;of why giving everyone fish is not good in the long-term. Teaching people how to fish is the better long-term solution.

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• NA

  @nagel133 · 3 years ago

  fun fact, the refinerys in houston are the only ones in the world that have the equipment to extract the extremely high sulfur content from the oil

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• KE

  @keithng5249 · 4 years ago

  As a Singaporean I always loathe the fact that I am born in a country with absolutely no natural resources to speak of. &nbsp;This video really serves as a strong reminder that, having natural resources but not knowing how to use it properly is actually worse.

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