The New York Times has a heartbreaking piece on Venezuela’s politics and dim future:
Since he was voted into office in April 2013 by a minuscule margin after Mr. Chávez’s death, Mr. Maduro has leaned heavily on the legacy of his predecessor, a populist who governed poorly but had magnetic charisma and shrewd political instincts. Woefully lacking on both fronts, Mr. Maduro has become increasingly erratic and despotic in a quest for political survival that seems more daunting by the day. Healthy oil export revenue allowed Mr. Chávez to build a robust network of patronage and create generous welfare programs during his 14 years in power. Those are becoming increasingly paltry on Mr. Maduro’s watch.
The tumbling price of oil, which accounts for 95 percent of Venezuela’s export earnings, has nearly destroyed an economy that has been managed dismally for years. Inflation rose to 64 percent last year. On Wednesday, the International Monetary Fund predicted that Venezuela’s economy would contract 7 percent in 2015, which could force Mr. Maduro’s government to default on its loans or significantly curtail the subsidized oil his country provides to allies in the Caribbean, including Cuba.
Mr. Maduro has been vague about the type of painful economic measures his government has been willing to embrace, yet he bafflingly has promised to expand social programs and raise salaries. Far from acknowledging responsibility for the crisis, he and his loyalists have blamed the revenue shortfalls on political opponents they accuse of enabling an international conspiracy.
What word is missing from this tale of Venezuelan politics?
“Socialism,” which was Chavez’s and is Maduro’s battle cry — which makes it seem, you know, maybe a little germane?