re: Venezuela- Cliffs

Hugo Chavez won the presidency, promising to bring socialism to Venezuela. He was a Lt. Col in the army, but he wasn't part of the elite. He was low born, and a outsider.

His reforms destroyed the economy. He turned the well run and profitable state oil company into a jobs programs, to benefit his constituents. And in the process he blew it up.

Oil made the economy work, and as PDVSA declined, the country slid with it.

This is the age old problem in South America, when the European elites run the country, the economy is better off. But they run these countries for their own benefit, and they do little to help the poor native peoples, who often feel left out and marginalized. That in turn creates room for populists like Chavez, and Maduro to take power.

We're now looking at the unfortunate, and predictable result of Chavez's reforms. Economic bankruptcy, and social strife. There are many who still support Maduro, because he's one of them, and because of his efforts to help them (the destruction of the economy aside).

The old elites are pushing to get rid of Maduro, but how popular are they? I don't know. It's South America, so Maduro may have the numbers. Poor people outnumber the rich, and the middle class.