WASHINGTON POST
Venezuela should be rich. Instead it’s becoming a failed state
by Matt O’Brien
May 4, 2016

It’s come to this: The country with the largest oil reserves in the world can’t afford to brew its own beer, stay in its own time zone, or even have its own people show up to work more than two times a week. Venezuela, in other words, is well past the point of worrying that its economy might collapse. It already has. That’s the only way to describe an economy that the International Monetary Fund thinks is going to shrink 8 percent and have 720 percent inflation this year. And that’s not even the worst of it. No, that’s the fact that the state itself is near collapse…This is an entirely man-made catastrophe. Venezuela, by all rights, should be rich. READ MORE