CO056 Alex Kack on the Venezuelan Collapse

Alex Kack is a comedian and blogger, and we talked about his piece on Venezuela and its collapsing economy. The collapse is so severe that Venezuelans are literally starving; 75 per cent of Venezuelans have lost an average of 19lb, 8.5kg each.

Rampant corruption is contributing to the problem, with looting by blackmarketeers – often members of the military whose wages have become worthless – causing severe shortages of medical supplies. The Venezuelan government’s attempts at price controls have led to bizzare incentives, meaning that toilet paper is a sought-after commodity, and that what was once a major sugar exporter now can’t even supply its internal market for sugar, to the extent that Cocal Cola have pulled out of the country.

I made a mistake about the date of the Communist Manifesto, it was first published in 1848.