A national economy can be in trouble for a long time before there's a national shortage of something as basic as bread (yesterday's post).
That is the status of Venezuela's economy, in trouble for a long time: since 1973, they have averaged an inflation rate of 27% per year. The current crisis can't be a complete surprise.
In 2013 V's population grew by 450,000 while the gross domestic product (GDP) declined by 5%. So there's more people in the country, and less wealth in the country.
Socialists have ruled since the revolution of Hugo Chavez fourteen years ago. General prosperity takes a back seat to the priority of government control.
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