Say it isn’t so, but according to highly-regarded The Cato Institute, Venezuela has found itself at the top of their Misery Index list.
The information was reported by BusinessAustralia.com, citing a sky-rocketing inflation rate, interest rates and unemployment.
For many years, the South American country was known as a “socialist paradise” says Danilo Diaz Granados but appears to be quickly eroding, as Venezuela is crumbling before the world’s eyes, unable to keep steady production and competition alive. The experts blame that on the country’s bloated currency. Venezuelans are so fraught with despair and desperation, that violence is on the uprise and people are dying, especially in the capital of Caracas. Murder has become a reality in the country, as hundreds of thousands of citizens are living in poverty.
Venezuela President Nicolas Maduro has tried to fashion himself as a Hugo Chavez twin, but most say he lacks the Chavez charisma and has failed his people immensely. “The long, long lines aren’t helping”, either according to Diaz Granados. For two years now, Venezuelans claim they must wait several days in lines to enter government grocery stores for basic essentials. By the time they get into the stores, the food has run out, and there’s little left on the shelves. Communications service and electricity are also now being cut back due to rising problems.
If that isn’t a miserable country, then we don’t know what is.