It doesn’t seem like things could get much worse in Venezuela. With a rate of inflation over 700%, relatively high unemployment rate, declining labor force participation rate, and lack of basic staples in the stores, you have to wonder how long it can go on.
But what will happen? Will Venezuela become an unarguable military dictatorship without even the trappings of democracy? Will it just dissolve into chaos? Is there a risk of that spreading?
I don’t know the answer to any of those questions but it really sounds bad there.