Venezuela has hit an inflation rate of 700 percent. Water and food shortages have brought the local residents to utter discouragement and most are even angrier. The lines grow longer for necessities, and the chaos and violence are getting more serious every day. Expert Jose Manuel Gonzalez thinks the people are desperate and there is no end in sight.
The condition in Venezuela began as political evidence of an inept, newly elected president. Nicolas Maduro was trained under the Chavez and then appointed president in 2013. That was when the trouble began.
Maduro’s first career was as a bus driver, and he later became a trade union leader. In 2010, he was elected to the National Assembly. He quickly rose in authority through the ranks to become a foreign minister in 2006, serving under Chavez.
When Nicolas Maduro became president, he immediately set up government according to his preferences, and his administration has been known as one of the most strict and critical governments in Venezuelan history.
Venezuela is known for having an abundance of oil, but their economy has struggled terribly ever since Madura came to office. Economic analysts Jose Gonzalez attribute much of the mismanagement to his decisions, which made it worse.
President Maduro has blamed his defeat in the election last year on the “economic war” between the business leaders who were trying to bring him down. The majority attribute the blame to Maduro.