Venezuela Economics and the Referendum

     By Donna Welles.



Hugo Chavez has been succeeded by Nikolas Maduro. Hugo Chavez had a public mandate and an organic constituency. Nikolas Maduro worked for Hugo Chavez and then Hugo Chavez died suddenly in 2013. I view Maduro with suspicion and the people of Venezuela likely also view Maduro with suspicion. Either Maduro is culpable in the death of Hugo Chavez or he is not.

     Economically since the death of Hugo Chavez there is less food and more foreign military personnel exporting petroleum when the commodities markets make selling energy unwise. Foreign military personnel in Venezuela exporting energy seem unmoved that there is little food in grocery stores. The foreign military personnel likely come from Spain, the Netherlands, and Russia.

     England and France are north in the Caribbean Sea and east in French Guinea. Belize still lists the Queen of England as its Head of State but French Guinea does not report much trade data to the World Bank. England once exported dyes to Europe from the Yucatan Peninsula and France has a colonial history in Mexico. The United States fought the Spanish-American War after the explosion on the USS Maine while it was sitting in a Havana harbor.

     Elections for the Venezuelan Parliament, the referendum, and audits of treasury money are symptoms of food shortages and energy being removed from South America en masse without adequate compensation. The International Monetary Fund lists energy prices on its website and petroleum and natural gas prices remain low.

What Next?

Recent Articles