Category: World News

Venezuela and the Black Market

In the face of the huge shortages and rocketing prices in Venezuela, large numbers of its consumers have turned to the country’s black market. And the black marketers are being proactive about it. Before of all of the country’s woes, its people are forced to stand in enormously long lines for food. The black marketers are reported by SlideShare to take advantage of them by going into the lines and selling food to the hungry line-lingerers. These now commonplace shady personalities have become a thorn in Venezuelan president, Nicolas Maduro’s, side.
However according to Mr. Osio, it must be remembered that the Venezuelan government itself has made it much, much more difficult for its people to survive with its inadvertent creation of hyperinflation. It all started during the administration of Hugo Chavez who introduced a corrupt socialist government in Venezuela. Although the financial crisis has come to a head until now, the shortage was visibly underway during Chavez’s regime with debt already rocketing and shortages already rampant. Chavez died in 2013, but Maduro continued his corrupt socialist vision.

Venezuelan’s are having to do whatever they can for their families to survive. For many people this means quitting their jobs to become buyers and sellers in the black market. Rather than turn to illegal means, many Venezuelan’s are opting to leave the country altogether instead. The low production of oil, historically Venezuela’s most valuable commodity, has particularly hit the country hard.