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  • Essay / What is the crisis in Venezuela? - 1018

    David Frum. “Will Venezuela abandon Chavismo? CNN.COM. February 19, 2014.Web.Apr.7.2104.David Frum, CNN contributor and also Daily Beast staff writer. He is the author of eight books, including a new novel, “Patriots,” and a post-election e-book, “Why Romney Lost.” Frum served as special assistant to President George W. Bush from 2001 to 2002. The author of the article "Will Venezuela Abandon Chavismo?" consider the possibility of a change in current politics in Venezuela. He recounts his own experiences: during his visit to Venezuela in 2010, everyone was talking about the elite Cuban paramilitary police units that Chavez allegedly borrowed from Fidel Castro. But changes are also coming to Cuba, and if these units ever existed, they certainly were not visible during last week's clashes. This article provides a good comparison between the situation in other countries and that of Venezuela. For example, he mentioned that perhaps the Syrian inspires Maduro to hope that he can hold on if his forces kill enough people. But the reality is that Venezuela is in a very different neighborhood, close not only to the United States but also to the Colombian and Brazilian democracies which take a dim view of murderous dictatorships. As the Castro regime in Cuba demonstrated, a moribund authoritarian system can take a long time to die. But the Castro brothers were serious about hanging on to power. Chavismo took nothing seriously. Diego Ore and Brian Ellsworth. "Venezuela protest death toll rises to 33". Reuters.22. March 2014. Web.4.Apr.2014.Diego Ore and Brian Ellsworth, two Reuters journalists explained that the causes of the protest complain about soaring prices and product shortages and vowed to stay on the streets. ..... middle of newspaper. .....ns Hopkins University in Baltimore, MD., and also senior fellow and director of the Troubled Currencies Project at the Cato Institute in Washington, DC, provides in this article a summary of the economic situation in Venezuela. Steve says Venezuela's downward economic spiral began in earnest when Hugo Chavez imposed his "unique" brand of socialism on Venezuela. For years, the country has supported a massive social spending program, combined with costly price and labor market controls, as well as an aggressive foreign aid strategy. This fiscal house of cards was kept afloat thanks to oil revenues. As the price tag for the regime rose, the country dipped more and more into the coffers of its state-owned oil company, PDVSA, and (increasingly) relied on the country's central bank to fill the gap. the budget deficit. This led to a steady decline in the value of the bolivar..