On the brink

Venezuela was in trouble last year, this year some think that bankruptcy or default is almost inevitable. The country is in "economic meltdown."

Last year it took 175 bolivars (their currency) to trade for one U.S. dollar, but now the number is 865 bolivars. Nearly worthless currency means barter, black market, and empty store shelves.

A "centrally planned economy" is standard socialism. For the socialist government of Venezuela, the plan was oil. Just a couple years ago, oil was sold on the global market for $100 per barrel. With the price for that barrel now being about $30, and with a weak un-diversified economy, the plan has failed.

Venezuelans are hungry. They're mad, too, so look for political news out of Venezuela this year.