Guayana City, Venezuela—Once the Latin American country with the highest growth rate, now the poorest in the hemisphere, Venezuela is in free fall. Hundreds are dying from diseases, some of them all but eradicated, because of a shortage of medicines and vaccines.
Having made the week for Vix buyers quite profitable, President Trump – whose North Korea rhetoric sent market volatility soaring in the past week – appeared ready to spread the love among long-suffering oil bulls, when on Friday afternoon Trump refused to rule out a U.S. military intervention in Venezuela, and said that the US has a military option in the insolvent, quasi civil war Latin American nation. “I’m not going to rule out a military option,” Trump told reporters at his New Jersey golf club discussing recent events in Venezuela. ” We have many options for Venezuela, including a possible military option, if necessary ,” Trump said after a meeting with Secretary of State Rex Tillerson and UN Ambassador Nikki Haley.
Venezuela’s descent into a socialist hell has been entirely predictable. A. Barton Hinkle writes: A thousand gleeful obituaries have been written for “Kansas’ failed experiment” with Gov. Sam Brownback’s tax cuts. But if Kansas’ economy provides a cautionary tale for supply-siders on the right, then Venezuela provides an even more stark warning for socialist sympathizers on the left.
One day after Maduro’s new “constituent assembly” expelled chief prosecutor Luisa Ortega Diaz – the highest-ranking member of President Maduro’s administration to break ranks with the authoritarian – from her post and ordered her to stand trial, confirming fears that it would use its unchecked powers to root out government critics, Venezuelan authorities claimed to have suppressed a military rebellion near the central city of Valencia, an official said on Sunday morning.
In Venezuela’s latest crackdown on all opposition voices, on Saturday the country’s newly convened pro-government constituent assembly removed dissident state prosecutor Luisa Ortega Diaz – the highest-ranking member of President Nicolas Maduro’s administration to break ranks with the dictator – from her job in what critics said was a blatant example of Maduro’s new dictatorship flexing its muscles.
On Thursday, the U.S. government ordered family members of employees at its embassy in Venezuela to leave as the nation’s political crisis deepened ahead of a controversial vote critics contend will end democracy in the oil-rich country.