by Peter Farquhar, Business Insider Australia
The headline at ZeroHedge back in January said it all. “This is what the death of a nation looks like.”
It now seems inevitable that Venezuela, for decades touted as a “socialist paradise,” will disintegrate by the end of the year.
It’s the ultimate case of “Dutch disease,” a country now rotten from depending far too much on the export of a primary product and, as a result, facing a currency so bloated it can’t maintain productivity and competitiveness.