At his Substack Tomas Pueyo has a lengthy and interesting analysis of Venezuela’s economic plight. Here’s the opening paragraphs:
The world is in shock after the US took Venezuela’s leader Maduro, and the takes keep piling up, but they each focus on a tree rather than the forest. Why? What does it all mean? What will happen with Venezuela and the Venezuelans? Was this a legal or legitimate action? How does that affect the US, Russia, and China? How does it rewrite the rules of the world?
At the heart of all these questions is one thing: oil. So today, we’re going to look at Venezuela’s economy, why it’s mostly centered around oil, and why it has caused the situation we’re in. In the next article, we’re going to look at the ramifications.
I’m looking forward to his next installment. Regardless of what President Trump implies, I don’t think there’s a quick and easy solution to Venezuela’s economic problems.
