Why does Venezuela have high inflation? Is it really due to socialism?

Why does Venezuela have high inflation? Is it really due to socialism?

their president is a former bus driver

thats all you need to know

Hispanic guy here

Selena gomez is so fucking ugly. Shes a 6/10 with all that makeup.

Our president is a brain-dead retard who bought his 3 diplomas, you can see why we're in deep shit too

Because their entire economy relied on exporting oil and they have no infrastructure. Oil dropped to $20 a barrel. You do the math.

Venezuela used to have one of the largest industrial sectors of Latin America, until Chavez killed them and subdized the ever-growing underclass with the expectation that oil prices would forever stay at $ 140

oil prices, socialism... escalated by price fixing and the gov't seizing factories ---> hyper inflation

the upper class was one of the most corrupt looting the countries wealth (US- backed too) until chavez stopped that and it causes a capital flight. can't blame it on government

>high inflation
That's one way of putting it I guess.

CIA did this