Venezuela will see its economy shrink more than any other country in the world this year as lower oil prices drain government coffers, according to the International Monetary Fund.
“Venezuela is projected to experience a deep recession in 2015 and 2016,” the IMF said Tuesday in its World Economic Outlook. The country’s real gross domestic product probably will contract 10 percent this year and 6 percent in 2016, it said.
Obama’s hugging buddy Hugo Chávez is chuckling from his grave right now, knowing that he lived large while helping to bankrupt an oil-rich country.
The Venezuelan government has stepped in to make prices on staple goods “fair.” The problem is that stores keep running out of them, which is a familiar refrain for those old enough to remember stories from the Soviet Union’s heyday.
Meanwhile, a guy who proudly espouses the same kind of economic system is closing in on Hillary Clinton even in the state where her wealthiest supporters reside.
Feel the Berning bread lines!