How Venezuela was Destroyed
ฝัง
- เผยแพร่เมื่อ 14 พ.ค. 2024
- Today Venezuela is known as a failed nation. Everyone is poor, money is worthless, there is violence in the streets, and over a tenth of all Venezuelans have left the nation. But during the 1900s it was one of the richest nations in Latin America (and on Earth). So what happened to the country? Why is it now so poor?
#h0ser #venezuela #history
0:00 The Tragic Tale of Venezuela
0:49 Spanish Colonization
5:24 OOOIIIIIILLLLLL!!!!!
10:37 Chavismo!
Venezuela could have become the Latin American equivalent of Norway if it chose to create a large rainy day fund with its oil wealth instead of giving away all of its earnings like there’s no tomorrow.
You are assuming socialists are smart. They aren't
Basically almost every oil country can become Norway if they know their way
But gotta have that socialism tho
Yes. The one thing rightoids got right is that too much spending, especially if the fiscal policy is asymmetric as I like to call it, is a disaster.
@@CantusTropus Not necessarily. Norway has done an excellent job creating a thriving capitalist economy.
I lived in Venezuela for 23 years, and personally I think the country is a lost cause. I am glad i was able to leave to Spain 3 months ago despite all the obstacles i had to go through. Exiting Venezuela as a Venezuelan is harder than entering Spain in my experience.
That’s why when people act like america is the worst country in earth I cringe. Like ofc we’re not perfect we have very high crime rates in cities like Chicago and Detroit and Baltimore and places that look like 3rd world. But we’re at peace, no wars, a high standard of living and many things we take for granted.
Glad you got out. Hope you aren't voting for the same leftist morons who ruined Venezuela
Guay tio, en que parte de españa estás???
Yo soy parte venezolano. Mis padres son de Venezuela
@@danielmessi1092 I wouldn't consider a country with almost daily mass shootings to be a peaceful one lol The USA is not a good example of a country for many reasons.
I'm an American but spent around a year living in Ecuador. Not as a tourist but just like any other Ecuadorian. The amount of Venezuelan migrants I saw was staggering. It's really pretty sad especially seeing how well run a country like Ecuador is (not perfect but you have the basics in good order).
Yeah I noticed that too when I studied there. So many Venezuelans were trying to make a living there. Plus met a bunch doing the same in Peru
@@goldhawk151 Yeah its sad. I mean, there are some pretty hardcore slums in Ecuador, but for the most part the basics are in order. It is a tragedy that Venezuela is unable to meet its basics despite its massive oil reserves. I wish the US could work closely with Venezuela to get things setup properly there so that America benefits from a stable/free Venezuela and Venezuela gets all the benefits of economic stability/growth. Quite the man would be needed to get that done though
@P T Well, maybe Venezuela shouldn't threaten to nationalize private foreign property and hostilize the countries they need to trade with. It's simply staggering that venezuelan socialism and others thrive on the propaganda that they can sustain themselves without capitalism and there are still people blaming their failure on sanctions from capitalist countries.
@P T Yes. All your problems are caused by us Americans. It was not the rampant corruption, tying your economy to oil or any of the policy blunders made by your government leaders. Its all the US's fault. I mean, all of the allies of the US do terribly economically by working with us as friends. Poor victims of America
@@22andresmiguel venezuela went to shit long before sanctions. you really know nothing about how Venezuela works if you thnik the sanctions are what caused this fucking disaster
I was born and raised in Venezuela, I've lived abroad, I have travelled across the world, and still I won't surrender to the crisis, I will continue working and give opportunities to my people. I dont criticize those who have left nor try to convince people who stay, but I do ask that wherever they go, help other Venezuelans, because not everyone can withstand migrating without help.
Good luck to you man may you bring prosperity to you and your people
Sure 😂
@@javiruiz8365 A 9 meses del comentario sigo aquí echandole bola e incremente el personal de las empresas en las que trabajo. No hay que rendirse.
@@AndresVargasArevalo that’s a good thing man! I salute you.
If this channel doesn’t tell you how critical keeping the corruption and elite accountable to the people is, idk what else will.
No, the elite always do as they please. They are unaccountable. In Norway and America they gave a fuck about their lesser men, in Norway it was altruism, in America it was fear of reprisals because those lesser men, they had guns. So many guns.
Most nations have already failed. The US for example is just a blatant oligarchy(matbe corpo state would be better) masquerading as a democratic republic
So is most of Europe, if my country being told to vote again because we voted wrong...several times isn't obvious enough
Your elites are most likely corrupt and they will never be held accountable
@@commisaryarreck3974 the brainwashing has gone so far you think the US should ideally be a DEMOCRATIC Republic... It's a Republic, it was specifically designed not to be democratic, tyranny of the majority. smh
And look at Brazil, they just have robbed an election to put the biggest criminal corrupt again on the power...
Now if only people applied that both sides rather than the one thats popular to hate
Sucks that Venezuela ended up from a promising oil-rich Latin American nation to the worst ending
it's not the ending tho.
some day, hopefully, Venezuela will be rich and happy place
This is the fate for most oil rich countries, just look at what is happening to the Middle East
@@mmaksymko any country can flourish if it wasn't 𝓬𝓸𝓻𝓻𝓾𝓹𝓽𝓲𝓸𝓷
basically, they're becoming Yemen
@@just_another_internet_man755 Actually most of the Middle East are kinda wealthy or average, but the one that constantly broadcasted in media is only conflict countries like Yemen, Syria, or Libya
Venezuelan here. I find it hilarious you used Tropico’s music lol. Your review is highly accurate (even when your pronunciation isn’t but it’s alright)
Oh yeah, when he said "arapa" instead of arepa I was going to have a stroke.
I've been living in southern Brazil for over a year now and i get an existential crisis and a "is that how i used to live" moment everytime I remember my country. Truly sad that not everyone has the opportunity to escape
And what you think about Lula the Socialist corrupt again on the criminal scene, the government
😢☝
You live either in Rio de janeiro or são Paulo right?
@@pillow69420 Parana, actually
Thanks for making this video! I'm a Venezuelan diaspora currently visiting my grandparents. My entire family was anti-government from the very beginning, my mom was at the 2002 Protests when she was shot at by pro-Government forces in the Llaguno Overpass. She managed to get out uninjured.
We left in 2010, but our grandparents stayed in Margarita Island. Since 2010, the situation has become critical. Venezuela is a beautiful country plagued by corruption and tyranny. God bless you for this video.
Love from Margarita Island
❤
if you talk to spoiled university students (usually rich white kids who've never had to work for anything in their lives) in 1st world countries, you'll notice that socialist rallies are common. a lot of them are convinced that us venezuelans who decry the government are the children of "wealthy politicos" that are mad that the socialist government took over and started "serving the people". nevermind my grandmother's apartment getting ransacked by the military. nevermind my cousin getting stabbed repeatedly, then thrown in a jail cell by the police instead of being taken to a hospital. nevermind my uncle trying to work an honest living, only to get his truck robbed multiple times by people even more desperate than him. these kids are completely delusional. we should send them to venezuela and see if they last a week
I hope your family is doing well in Venezuela!! Best of luck to them
You complain, yet you left.
@@Halcon_Sierreno What?
@@bronzy9826 Go back and fix your country.
The moral of the story is: When nation building, never ever ever ever ever leave all your eggs in one basket.
In other words, diversify your economy.
Oil has a tendency to have the prices jump up and down so that's one basket I'm not putting my eggs in.
@@ReviveHF Facts
And well, never vote for the guy who promotes free stuff instead of a more stable economy.
Especially not on a non-renewable resource, like oil... which... y'know... RUNS OUT eventually and massively fluctuates in price?
Dutch disease is a concept that describes an economic phenomenon where the rapid development of one sector of the economy ( particularly natural resources) precipitates a decline in other sector
Correct. You get fifteen points
*loud correct buzzer*
As a Venezuelan, I want to congratulate you because you know more about the economics of Venezuela than a common Venezuelan, I think that's the problem most of the people in my country are just stupid, and candidates that offer a bag of food are more likely to win than others, thanks for the vid
Uneducated is not the same as stupid.
@@Bori.1776 true on that, but having seen engineers and doctors on socialism stupid 100%
@@aordaz41 Ideology is a virus that corrupts the mind. I agree.
@@aordaz41 I agree with you. I am Venezuelan, and it is rare to witness someone that is willing to admit that there are many other issues beside "socialism." I personally think that scapegoating socialism stems from Mcarthism, for some reason there is brutal fearmongering regarding leftist ideals in the culture of our state. It could, perhaps be because, the governments that led the country to the horrid state of brutal anarchy it is now, were all leftist governments. However, it is essential to recognize that leftist ideologies and values themselves were not the problem, but the rather the governments themselves. I have witnessed engineers with PHD'S, lawyers, doctors, people who had incredible higher levels of education deciding to simply deny any historical evidence and just start lambasting leftist ideology. I even get called a marxist and a "chavista," whenever I try pointing it out. It is insane. So yeah, I agree with you. Some people's level of education exceed their intelligence.
@@latoniefpeople seem to think whatever bad happens in socialist government, is wholely due to socialism and not possible external factors, poor leadership and corruption are not exclusive to socialist countries, these factors affect a large number of countries
As a Venezuelan, I gotta say this is one of the better takes. Though, that's kind of a low bar, since most try to oversimplify this to either "Socialism" (a word that basically means nothing anymore), or US Sanctions (which are indeed exacerbating the country's problems, but aren't the actual cause).
*Can you make another comment without you mention the western world or japan and South Korea?*
@@ZhouEnlaiOriginal That's one of the dumbest replies I have ever seen, this is Venezuela, so those countries are 100% relevant.
@@ZhouEnlaiOriginal shut
It's more to do with corruption and bad decisions
Maybe you should make a video you seem to know what's going on
As young Venezuelan who left the country pretty recently , this is accurate to a certain extent , some of the numbers are off , our diaspora has been on part with the Syrians after the Arab spring of 2011 , but without going on the details is a summary. We had intellectuals like Uslar Pietri (famous Venezuelan scholar) that promoted and exhaustively demanded to cultivate oil (diversify the economy and promote other sectors besides the oil sector) but never actually made it and the anti-elitist , far left economic measures on Chavez-Maduro regime eroded whatever other industries were left in the country by expropriation and mismanagement.
To whomever is fascinated by the events that led to Venezuela’s downfall , it is still being studied because it’s modern downfall on catastrophic levels. People lost jobs, businesses , family, savings, quality of life , freedom and hope and yet the country stands , our people dance , party, study, marry and live despite the utter chaos but any Venezuelan (that is not under the thumb of the party that runs the government or still indoctrinated ) will tell you about the social, economic and political erosion that has happened and how it has affected them in their daily lives, no matter their class or part of the country they are from.
Brazilian here, glad you are in a better situation, we had a huge number of venezuelans coming to Brazil as we share a border. I'm glad to share a border with such amazing people and culture, hope our latin american brothers be in a better situation soon
I’m dating an older Venezuelan woman who was from a rich family and they lost everything. She makes me arrépa (spelling lol) all the time
LOL. Chavez and Maduro aren't far left though.
ok great propaganda😂😂..
@@AholeAtheist They absolutely are.
I am half Venezuelan and my Venezuelan grandfather talks about how amazing the country was when he lived there, but is now ashamed to be Venezuelan due to the events that took place. He always says it is a slippery slope what the government did and what many do today. Mind you, he grew up very poor. I wish to one day visit Venezuela and see its nature. Maybe some time soon
Hey thanks a lot for the video, I've lived here my entire 20 years of life and I honestly don't imagine myself living here 5 years from now on. We have reached a point where we can survive but the long term future seems bad
He mixes education and funny quotes which rhyme really well. You are having fun and also learning something! I also absolutely love that he represents countries as its national animals,so clever! Keep it up
I love the animals, more personable than the countryballs
A little correction. The actual number isn't 3 million, but 6 million who have left the country in the last decade.
This series is amazing. I never thought I would enjoy watching videos that concerned economies and governments, but you do such an excellent job packaging it up in an ‘easy to swallow pill’, the images are a plus. Excellent job!
As a Venezuelan, I am glad to see videos like this that go over this without some sort of agenda and looking for a political punching bag.
Exactly! Every other video just uses socialism as an excuse but in reality what happened in Venezuela was not socialism. Social welfare programs do not instantly make a country socialist. A real life example of socialism in a country would have been Burkina Faso. You see Thomas Sankara Attempted Socialism in Burkina Faso and in just 3 years rose literally rates drastically, eradicated meningitis and measles, provided food housing and healthcare to millions and prevented famines by increasing the amount of food produced and reducing the amount of food imported. The only reason things went south was because he was overthrown and murdered by French Colonial Sympathizers. Since then Burkina Faso has been unstable and unsafe. So when socialism fails it is either a problem that isn’t integral to socialism like Military overspending and corruption or it fails because of western intervention. I still remember when I was first studying to learn Eccomoms I went in think “Socialism is Cuba and Cuba is poor and dictator” but after learning the factors that actually effect countries and I learned just how similar Scandinavian Social Democracy is to socialism and that is what encouraged be to become more open minded and learn what Socialism really is, what capitalism really is and even what communism is.
Venezuela has the standart latin american mentality on steroids, and I say this as a Brazilian, we are on election year and honestly, both major candidates are populists using lame ass speeches about god, family, gender rights and etc to classify themselves as either right or left wing candidates.
Both are corrupt ones, and the people know it, some choose to ignore it, but deep inside they know it, but since the country isn't in deep shit, we are complacent about it, that's until things start falling apart, and they will.
We sacrifice long term prosperity for some 3-4 years of "golden years" fueled by public spending and corruption, just for it to bite us in the ass later on.
Voto nulo detected
@@arthurg.calixto3338 Nem votei :v
The ballad of Heisenberg at the beginning killed me
I’m so glad someone else pointed that out. But it’s such a good song, so I’m not mad about it lol
I knew someone else heard it!
The song is Mexican btw
I gotta say, hoser actually makes some really good content. No BS, controlled bias. good shit.
U remind me of a old youtuber id watch back in the day. Nice vids keep up the great work
H0ser: explains why and how Venezuela got to where it is today
Me: is the background music the sound from breaking bad
Also h0ser: 3:08
Every single Latin American country should be fully developed. The current situation is absolutely insane!
Alot of debt through public spending
I wish
At least they got hot women there haha
The corruption and bad economy policies keep them in poberty
Some did alright, but it really seems the curse of the Spanish Encomienda System and state-sponsored corruption really made reforming the political culture very difficult.
you are one knowledgeable person !!!! and I love your style of teaching subjects that could at times be boring ..big thumbs up
It's scary how the horrible decisions of a few can condemn a country of millions with so much promise, to lives often misery
This was a great insight for understanding the situation of my Venezuelan neighbors. Consider doing Peru next, we also had hyperinflation and violence during the 80s but managed to recover. Over our 200 years of independence our economy has been based on extracting natural resources like guano, rubber, copper, etc. Might be cool for a video.
Creo que no habla inglés XD
eres de la sierra?
we are going to shit lmao
How are things going now? I read that there was a coup attempt or something
@P T It was thanks to capitalism and the 1993 Constitution that we had the economic boom we had in the last 30 years. And not it's going to shit because of populism and idiots who think changing it is a good idea.
I will say it again: the success of a society does not come from its resources but from the quality of its government.
Just look at Singapore
@@sheltonyukevich7722 And Botswana!
Ressources play a big role too.
@@zyanego3170
But management is even more so.
Venezuela was a country closed to the world great part of its history, the oil boom in Venezuela emerged thanks that the government was reached, by a caudillo (juan vicente Gomez) managed by a venezuelan banker educated in new york (Manuel antonio matos), and the banker saw an opportunity in the oil industry, and created with the help of the caudillo that he manipulates, a liberal legal-frame, for first time in the history of the country and that allows many oil companies from USA and Europe invest in the oil industry of venezuela, venezuela for itself wouldn't developed the industry, because had not capital, and the knowledge of the industry, were the US oil companies that builded in venezuela the greatest refineries of all latin america (as the refinery San lorenzo) and the wells, that helped a lot the country get out of the extreme missery that lived at the beggining of the XX, and helped be the 4 richest country at the world in the 50's, but the venezuelan mentality, and the new government with socialist-communist trends, ( the majority of presidents of venezuela since 1960, were exiliated for be suspicios of comminist, during marcos perez jimenez dictatorship), they tore down all the foreign investment that the country was receiving for years and took full control of industry, not only the oil, also the steel, banking etc, and they dilapidated the money of the industries in subsidies, corruption, etc, they made the population more dependent of government welfare, the system of itself was unsustainable, and exploded in the 80's and that brough many dismay and uprising, the same president that nationalized the oil tried to turn the situation, and apply liberal policies and take off subsidies but received a social uprising, two coups, and the politics took him out of power for dirty political ways, and then the people preferred a more socialist and leftist, leader as hugo chavez thinking that the problem were for the government that tried liberalize the economy ( that didn't liberalise significantly).
Thanks for this. I'm viewing rhis from Venezuela's nearest island neighbours, Trinidad.
This video clip gives a clear description of Venezuela's path over the lastt two hundred years or so. It reminded me that nothing occurs in a vacuum.
I subscribe to a lot of history, geopolitical, and news-centric channels, and this is one of those that I always click on first after I get home from work when I see it in my feed. I'm sure it'll hit 250k subs before too long because these videos are consistently pretty good and informative, even for me who is a history buff.
This is why Saudi Vision 2030 aims to decrease they're dependence on oil. It's impossible to stay rich forever if you get all your money from one industry.
Absolutely. Having you entire country dependent on one shit alone is disastrous.
Not with vanity projects like NEOM
That's why Russia isn't even developed.
Except that their "plans" aren't particularly future proof. NEOM is a joke bound to fail at best, and beyond that they don't have much going for them. Sounds good on paper but when the oil runs out I doubt they'll fare a whole lot better.
Venezuela didn't fall because oil, but because Chávez and Maduro greedy theft ass, drying out every single penny to their own pockets and doing alliance with the worst countries in the world, Cuba and Russia
Great videos! Learning lots! Keep it up
This channel has taught me more than 18 years of history / social studies
That's why I follow this channel, you didn't take the cheap and easy out by blaming Chavez. Don't get me wrong he sucks but is a symptom, not a cause
Nah, he was the hard liquor for the hypothermia patient that was Venezuela.
He did accelerate the collapse, but yeah, we were going to collapse either way
Actually unlike many would like you to believe, Chavez was a great president and he was about to succeed in nationalizing Venezuela’s oil when our country’s “energy interests” prevented that from happening.
@@josea1707 The oil industry was nationalized back in the 70s, try again chavista tarifado
@@josea1707 Venezuela should focus on industrializing in order to make their weird brand of socialism actually work, overreliance on oil isn't going to do them any favors, not now nor in the future. Cuba is suffering from a weak industrial sector as well. But it's understandable that US sanctions make that goal very hard to achieve.
I used to work with a bunch of Venezuelans back in the mid-80s in Dallas TX, they always talked about how great, rich and educated Venezuela was, and how everyone else in South and Central America were ignorant peasants who couldn't even speak proper Spanish. I wonder how they are doing now?
Sound like karma hit them like a train
well it was true at the time. And its still true most central americans and chileans cant speak proper Spanish lol.
@@juanm8582 lmaoo tf is proper spanish
Yes the Venezuelans still suffer to this day from an over inflated ego. Their self entitlement and lack of gratitude towards the host countries they immigrate to rubs many of their fellow Latin Americans brothers the wrong way.
The sheer amount of violent crimes some of their nationals have and continue to commit in Colombia, Perú and Chile is astounding!
Their problems has affected the entire continent in a negetive way.
@@ddurlon Spanish that is closer to Spain. Argentina has Italian qualities and Mexico has its own Spanish. That's why we have different accents
The full story is always more complex than anyone with a political agenda wants to admit or even bother finding out.
That with a lot of history people only use history that fits what’s belief’s instead of the other factors
It's all too easy for braindead gringos to hear anything being used as a talking point towards their own idiotic "political" "parties", and to not call bullshit on it.
Exactly
Confirmation bias is the term you're looking for.
i swer this channel has teached me more about history then the entirety of history class
hey h0ser, you're video on Venezuela has been very enlightening on the history and difficulties in Venezuela that plague the countries society to this day, it has also made very interested in my own country, the nation of Malaysia, and its history as has also benefited from oil wealth as well. I would love to see a video on Malaysia as might give a more nuanced understanding on oil wealth as we aren't exactly a Norway but we are a relatively successful state but also really screwed by certain actors, ideas and people over the decades
The major different between Malaysia and Venezuela is that in Malaysia, Malays govt just took the money ,waste it like no tmr , BUT didn't buy up its other industries with the oil wealth and let it rot. So unlike Venezuela , even when Malaysian oil money disappear, they still have other industries to fall onto.
While it isn't Norway, people still have job and food on the table.
Venezuela is like this person who had everything. He later had a car crash and his mood changed drastically cause he had a brain damage. After he started to have heavy drinking, and he causes vandalism in his town. Tell me what Venezuela is like in your opinions.
That kinda reminds me of Caligula where in his early reign he was a better empire than his predecessor, Tiberius. But after a “brain fever” he went batshit insane
like that person who won the lottery but because of lack of education blew it all and is now living in the streets
@@amapianototheworld7156 okay, that's a good one.
Venezuela is that person who has the communist devil whisper into his ear and then murders his entire family
The person who’s really rich but gambled all their money away
As a Venezuelan, I think our people is dammed from the beginning, we only care about money, money and more money and didn't take the good opportunities to invest in education, science and more technology, we are just a bunch of people surviving in other countries and in our own country...and it's painful to see it
Nice video and explanation, so accurate
One very interesting development is that with the remittances of so many people abroad, the economy has stabilized(just a little) not enough to stop the inflation but enough to eliminate the scarcity of basic resources like food and medicine but in USD, so assuming you have a relative sending you some money for food you can survive, but that is were it ends, The country has become a lawless land, at this point, the government doesn't care about it citizens so you are on you own, no water? tough luck you better drill a water well for that, No electricity, Well you can buy an electric generator if you have the USDs, The police AND gangs are robbing you? well non of my business you can always buy a gun
Not a very nice place to live or visit, for my part the best desition of my life was to leave in 2019, not to the best country(Colombia) but light years away better than Venezuela
Or make a water distiller from the rain and Buy tanks of water like 7 o 8 in total to Survive a few months without paying thousands in water cisterns
@@asierro2007 The funny thing is that we(me + my family) did exactly that, but the low-budget version, we didn't have the money for a filtration system or a big tank, so we used a couple of plastic barrels, the water wasn't particularly crystal clear but adding a little bit of chlorine + letting the sediment sink to the bottom of the barrel, was enough to make it usable, not drinkable (we still had you buy that), but it helped a lot, those were very dark days for me
Except that you actually CAN'T own a gun since Chávez made it ilegal to do so, and if cops find a gun in your house you get arrested, or more likely extorsioned.
@@PianoWolfg I'm curious why the rain water is dirty. So for what has happened in your country...
@@jameskamotho7513 There aren't many environmental regulations and the ones that exist are ignored, Thus there are a lot of older cars and trucks without catalytic converters, thus a small fill of soot is created everywhere exposed to the elements, walls, floors, and roofs... the where the rain falls, the rain would wash the soot of the roof and thus would be contaminated, (cleaning the roof before it rains was useless because it only takes a couple of days for the soot to reaper)
@h0ser This is my first time watching one of your videos and I thoroughly enjoyed it. I thought your use of sound facts, witty sarcasm, decent music, decent animations, and well structured out analysis culminate in a quality video. That being said, I have one, critical yet constructive complaint. I thought your pace of talking was to fast. Personally, I could follow. However, I love history and already have a rough understanding of the history of Latin and Central America. One of my personal favorite you tubers who is in the same niche as yourself is Kraut. He is the polar opposite and utilizes a very slow, yet precise and intentional use of language. I prefer it because it opens the marketability of the video to those who are new to the field of historical analysis and also enables him to dissect topics over a longer period of time and to highlight interesting and intelligent views that appeal to ardent historians. Anyways, I look forward to watching more of your videos!
Great video, writing, entertaining and informative.
am binge watching your chanel right now, your stuff makes me crak uppppp and learn - just a comment though, I don't know if you talk fast naturally or are trying to keep the audience engaged, but I think you can slow down a bit :) I've put it to .8 speed and that feels comfortable and I actually understand it haha
As a Peruvian is kinda sad how our venezuelan brothers are doing right now, they used to the a freaking Norway in south america, I hope that those times where everyone here used to say "Dam, I would wish to move to Venezuela" come back one day
They were never the Noraway of LA, they were a poverty stricken nation desperate to see one of their own assume power.
haha peruvian lmao
eres de la sierra?
@@HC-wo2tz what the hell are you talking about?
As a nigerian i understand how big of an oppurtunity venzuela missed its similar to nigeria , does oil always have to be a curse
Oil isn't a curse in Norway.
Oil isn’t a curse, corruption and ineptitude is
Yes oil is always a curse. Any industry that in a short period of time gets bigger than the whole rest of an economy is a curse - it totally throws off the systems the economy used to run by, it guarantees all sorts of foreign interference, and it requires a ton of tricky adjustment to manage. Yeah some places get through it, but not easily, and a lot of places run into very serious problems.
The most helpful thing when you find a huge windfall of a natural resource is to already have a large diversified economy so it doesn’t totally take over everything and devalue and marginalize every other industry. But nobody really has control over whether they have that or not.
@@zyanego3170Oil is a curse to countries with corrupt governments that can’t afford to extract the resource themselves and so they let private multinational corporations use and exploit the natural resources found in their country
Oil isn’t a curse for Norway and hopefully won’t be for Guyana.
always love seeing political discussion without bias, just a genuine passion for learning about people, nations, and how all that works and what's happened so far in human history. I think they call it anthropology.
These videos must take a lot of time and research to make, good job
I’m part Venezuelan. My parents are Venezuelan. My dad’s parents are Columbian and they moved before my father was born. I’m born in the US. My grandfather had a good life in Venezuela until it was in shambles.
It is Colombians no Columbians, this comment is only a correction
Why do you guys speak Spanish
@@auguaauaguga6517 cause we do. Watch the video, it tells things about history
Why is Venezuela so lost cause, is there anyway to undo the hyperinflation
Soo... You are American
As a Venezuelan, I'm glad this video exists
i watched one video now i love this channel
You really nailed it, they never found democracy before greed aka oil. Politicians in Venezuela literally went for office just to be like “aight how am I gonna sell oil and not give a shit about anything else going on”
Good luck to my brothers from Venezuela, here in Brazil we are at the edge of the abyss too, but we will die fighting for our country 🇧🇷❤🇻🇪
Lol
Why do you guys still speak languages of c0l0nizers
Brazil is at the edge of the abyss?
@@cokoctepannx5864 something to do with their president
How are we in the edge of the abyss?
Is this some delusional speech?
Can you make a video on Syria? I would love that because your videos are quite informative, concise and not as boring as history class.
Honestly, the fact that a foreigners recap of my country and the things that I see everyday is some of the only reliable sources of information I have to understand shit without bias in it's really depressing, but I'm already Venezuelan so...
As Venezuelan u are by far the best and most accurate video essay shit about Venezuela I’ve seen, thank u so much for translating that shit show so nicely
The discovery of massive oil reserves in Venezuela can be compared to someone winning millions of dollars in a lottery and spending it recklessly. There have been numerous stories of major lottery winners blowing all of their huge fortune and going deep into debt and misery. Some of those winners have ended up going homeless, being dependent on welfare, suffering a divorce, becoming a drug addict and even committing suicide etc. If you ever win a huge prize, you should hire financial advisors and lawyers to inform you how to manage your new riches.
Put 5% a side to party and put the rest into EFTs and live of the dividend. Tell everyone the money is locked and you have no way of getting to i to give out loans.
@P T you need to travel more. Corruption and Nepotism is the problem and an oligarchy who has no insentives to bring poor people into the middle class. We can at least hold our politicians accountable and there are checks and balances in place. On top of that rich Venezuelans spend their money abroad so it doesn't even trickle down into their own economy. Go to Venezuela or perhaps neighbouring Colombian and see for yourself.
Latin America is not as simple. Brazil in 2010s followed this path after discovery of pre-salt oil fields. They invested a lot in R&D, built a whole industrial complex around it, to the point the state-owned gas company became one of the most advanced players in the world, also investing revenue in things like education and other industries... All this to the country ending being crippled down to the ground on the verge of a far right coup
@@jotareiss I'm in awe at what Brazil managed to achieve.
Becoming a top player in the hydrocarbon game, becoming a top player in engineering projects, being poised to become an actual superpower.
And what did you guys use all those advancements, land, and manpower for in the end?
More violence, political drama, and advanced forms of corruption.
@@necromax13 but corruption and political drama is how we do it since... ever?
The story i told, although extremely frustrating, is nowhere near surprising in the global south. There a lot of interests, both external and internal, in these countries being a mess, because corruption, political drama etc is profitable.
In the process of Petrobras being gutted, it becames the gas company that paid the highest dividend payouts at expense of the gas prices surging to the highest value in this century and refineries being sold to foreign investors as cheap as 2 years of its revenue.
To further illustrate how fucked up things are down here, as for today mainstream media is fearmongering how the stock markets are falling because the new president vowed to fight hunger in the country.
One tiny error you commit, the official number of emigrees is 6 million by international estimates, though the suspected unofficial approaches the 9 million mark.
One fourth/third of Venezuelans have left, this comment as a Venezuelan myself.
A lot of them came here in Brazil
@@sand7861 And Mexico too
Yeah I read a year or two ago that about 7 million have left. A massive amount are next door in Colombia
@@QuantumNoir That might change soon...a sizeable amount of them is leaving...going through the Darien Gap and crossing the US-Mexico border
I'm >4000 Kms away from Venezuela and now and then see refugees begging on the streets, during a freezing cold winter. It's like they went from the pan to the fire, may God help them...
I'm from Belo Horizonte, a city in Brasil (a bit close to São Paulo and Rio de janeiro), and my city has a LOT of venezuelans. It's a sad situation because a lot of them ended up in the streets, but still, our government has a few welfare programs for them and society as a whole wants to help, offering shelter, food and jobs. I can only imagine what the cities near the amazon are facing, since mine is more than 1500km from Venezuela and we are still able to see the consequences of the regime.
Fun fact: Not sure if it's still the case, but the Venezuelan currency was actually worth less at one point than the gold in Old School RuneScape, due to in-game gold "farmers" making more IRL money for themselves than they could at a real job for Venezuelan bucks.
It was a real, I've met a couple guys doing that, they made a considerable amount of money at the time. This actually extended to all forms of gaining money through the internet (fiver, commissions, TH-cam. Etc) but to use RuneScape to make money definitely was quite surprising.
Venezuela is a cautionary tale of why you should not be so reliant with a single source of income. We've seen this pattern so much in history. Yesterday was the Congolese Empire, today it's Lebanon (and Venezuela), and Saudi Arabia might be the next one.
@P T tbh world economies helped build Venezuela but it also was their downfall. Overall they got no leg to stand on solo.
It's why you gotta invest in your own country not only others. Diverisfy the economy with several sectors. Incase 1-2 fall not much will happen if they all sorta equally control a piece of the economy. If you got 1-2 that fall that are a majority the rest will pick up the slack which isn't much. And the country in a sense resets.
I like the point of view about not having mature democratic institutions before the oil discovery... thanks
Very stupid take
@@HC-wo2tz disagree
Its all cognitive bias. Look at how rich gulf states are, and look at poor democratic African countries with more resources than gulf states.
Also, there are other countless counter examples. Like countries like china becoming richer than usa and how democracy ruined usa, and western states, which is just surviving because of military might and colonial wealth.
@@bannann_aa Well said. I've even had the misfortune of reading certain comments where conservatives explain that African countries are poor due to socialistic policies. That's how stupid and ignorant some people are regarding geopolitics.
Awesome video. Keep up the great work! Could you do Colombia too?
Good video, and I liked the art. I learned a lot about Venezuela, thanks!
Thank you for this video. Very insightful and impartial. Love how it does not glorify or excuses socialism or capitalism. Just explains the downfall.
Damn, this one is personal. my poor country :(
I feel bad for the people
I was expecting bias. Good video
@h0ser could you provide the credits for the background music? It's so good, I have an earworm now.
The way he pronounced Arepa was the biggest tragedy in this video
mhm
If his channel name is what he is, his pronunciation can probably be worse
was better if he just said "bread"
That and the name pronunciation
@@stopreplyingtomycomments7954 ah reh pah
as Venezuelan i'll add that other reason of the actual situation is because Chavez and Maduro didnt learn about the mistakes commited in the past "or" They wanted that sussy oil from the begginings, which ended up doing the country more dependent of petroleum and being more corrupt than ever.
I would like to tell other things but i dont want to do a bible, so nice vid and God bless Venezuela.
Sussy 😂
as another venezuelan, why tf would you use an among us joke, im banning you from venezuels
@@korenaya lol
@@korenaya amogus
@@korenaya amboga
Just to remember Venezuela gov was anti imperialism. Before oil money went to the outside, now it is going to internal elites. Only downfall was these elites not reinvesting the money into the country development, but what could you expect of SA bourgeoisie...
Did you just put the Heisenberg corrido for a Video of Venezuela?
Great, informative, impactful video man especially for me whos from Algeria, a similar case but has a bit more dynamics than Venezuela.. PS: please do algeria next ma man!
My parents are from Venezuela and I am so thankful they left to Canada
If I may ask, what is the background music during the first part of this informative video? What is the name of the instrumantal play? Thnx in advance.
negro y azul
Hi, I am actually from Venezuela, thanks for the video. I really don't know if exist a way to resolve the problems of my country, but so many people do the best for survive everyday, maybe there is the solution, one time I heard something " never waste a crisis" if a country of have experience to learn our us
Oh my country, I hope it can recover its glory someday. Thanks for making a video about it 🇻🇪
Why do you guys speak languages of c0l0nizers
@@auguaauaguga6517 a. Why’d you put 0 instead of o’s and b. It’s a unified language that the people there would know so they kept it as the official language it’s the exact same reason the us speaks English and didn’t decide to make up their own language or use a different already existing one
@@auguaauaguga6517 ¿hay alguna razin que no deveriamos, o solo estas maullando para llamar la atencion?
One of my mom's friends is from Venezuela. Thanks to the regime Hugo Chavez put in place she lost every single penny she had because according to the government she doesn't need money to survive and took her business too so she couldn't make more money, she had to gather what little she had left and come here to the states for a better life.
Quite sad, but Chavez was voted into office, so his government technically doesn’t qualify as a regime. Still, the was the first of this cursed wave of socialism that is hitting Latin America right now.
Ah the horrors of seizing the means of production and distribution.
Dissapointing thing to see is how much of a cult personality he has even though it was his socialism program that led to the rise of corruption, Maduro, and the eventual collapse of the economy.
@@zyco9188 Did you not read, the multiple coups, slavery, exploitative systems before hand.
There are socialist-capitalist hybrid nations that do fine. Vietnam
@@CountingStars333 socialist-capitalist is an oxymoron.
0:54 is Cartagena de Indias wrongly marked as Maracaibo on this map or is it a piece of history I don't know about?
One of my favorite artist on DeviantArt used to live there and lost contact for almost 3 years...
Venezuela is like the popular kid that peaked in high school but fell off afterwards
Fun fact: there once used to be a German colony in modern Venezuela, called Klein-Venedig
And this video reminds me on how the Kongo Kingdom was dependant on exporting slaves and the Saudis depend on exporting oil.
Klein-Venedig is in fact the origin of the name Venezuela. When writing about the indigenous peoples from the coastal areas, the early German explorers noted how similar their construction techniques were to those of Venice: laying a foundation of tree trunks underwater and then constructing stilt houses atop the water (named Palafitos), making it easy to fish from their own homes. Because of this, they named the place Klein-Venedig (meaning "Little Venice" in German) which Spanish courts translated as Vene-zuela.
there's still a german colony-ish near Caracas. Its a tourist site now, they grow flowers in those hills and you can stay the night in some European-looking hostals. Its pretty cool.
@@juanm8582 yes, Colonia Tovar is in my home state of Aragua. That settlement has nothing to do with the Klein-Venedig expeditions though. It's a much later colony of Allemanic-speaking immigrants from the late 1800s. Fun fact: their dialect is mutually intelligible with Pennsylvania Dutch!
@@norik434 I love that place lol. Its cool, but a bit unsafe to drive to.
Kraut?
The mexican music in the background 😆
Love your country breakdowns! Can you do Nigeria?
He did 2years ago named “ How Nigeria can become the next china
@@McDonalds280 Thank you so much kind stranger!
Thank you for this objective evaluation instead of solely blaming socialism like your average American news outlet.
Ye
As a Venezuelan, I can tell you socialism did fucking ruin us a lot. The gvt (still) cant a find a way to break the private sector to make the populace dependant on them for food or services.
Socialism has alot to do with it, mass confiscations of private assets, state run monopolies, coercitive economic measures against the private sector, banking etc.
Socialism is not limited to public funded goods, you can have that with a modern capitalist economy.
@@XxLIVRAxX none of those things are related to socialism tho, even if Venezuela were a capitalist country same things would've happened, because the government was plagued with corruption
@@XxLIVRAxX socialism is not when "too much state"
A country 100% state would still be capitalist if the dominant class were the bourgeoisie and had a market economy (price control is not planned economy)
The only exception is Yugoslavia, because even though it had a market economy, it was based on cooperatives (worker's control of work environment), so we consider it market socialist.
Well, a foreigner talking this explicitly, though, respectfully about our situation is kinda refreshing. I would contribute the cause of the instability was and still being the power-hungry and egotistical notions behind the ideals of the politicians. Every turn since 1946 resume in some various intents to form democracy and peace being obliterated by politic sectarism, corruption, populism and mainly greed. The rise of Chavez is the infamous consequence of all the past mistakes; above all, wanting that savior-like figure that the average venezuelan sees in the military men
I'm agree with you
love the ballad of Heisenberg in the background
What's the music used in the video
I love how “Negro Y Azul” is playing at the background at the beginning.
There are too many historical errors in this video, there are also misrepresentations of various facts.
Venezuelan here, the video basically covers everything, good shit. I used to go back every year but cant do so anymore cause its consistently getting more dangerous. Itl be a WHILE before we see any major progress.
Subscribed!
Who knew putting one export at a high % would turn out to be a bad idea.
Also the reckless public spending. Money doesn’t grow on trees
Reckless spending is especially bad if you don't have the infrastructure to support it.
on today’s episode of ‘the spanish managed their colonies so horribly and with such arrogance that we still feel the consequences today’: venezuela
Venezuela's issue has always been the same: Venezuelans.
It's a great country, but is the people that live there that made it what it is today.
@@jorgeluis2247 this
Also the manner how the colonies got their independence only so they could hoard the resources for themselves.
It's enough to blame spanish colonization. 200 years ago, we let Venezuela. If you are not able to deal with your own country after that, it's not a Spain Empire problem. Look for the cause into yourself, instead...
According to your logic, Japan should be like the Congo after those 2 nukes
8:32 The MIR is actually from Chile.
I like your videos so much, by the way
Is that the Heisenberg song?