CrusaderFrank
Diamond Member
- May 20, 2009
- 146,616
- 69,754
- 2,330
It is also caused by having all yer eggs in one basket(oil) Venezuela is sitting on the largest known reservoir of oil in zee vorld..
Yet the prices that helped Ven. become so rich is the same carriage which carried Ven. to it's disposition now, low oil prices, 1/2 of what they were in 2008. That occurred in 2014 with a 45% drop in just one year. I also stopped getting oil royalty checks that year also....
No economy can handle such a drop in commodity prices when they have but one major product to sell...
So there were no people in Venezuela, only oil. Interesting