what happens when the arse falls out of oil

The Miracle of Democracy has gone to shit in Venezuela, that's if there was any real one in the first place.
Presidential supporters launched a surprise attack on the lightly-guarded Opposition-dominated Parliament with crowbars, sticks, stones and fireworks, leaving four injured and hundreds really scared in a seven hour Mexican stand-off.
A fantastic 206th Independence day in Caracas as President Nicolas Maduro simultaneously held a military parade with tanks rolling through down town.
The whole place has gone down the toilet politically and economically; gangs of yoofs battling the riot police daily, nut jobs stealing helicopters and firing grenades at the Supreme Court building, that sort of thing.
And it's no small thing either, no siree, about 90 dead over the course of three months of anti-Govt protests.
Maduro, with the backing of the military of course, is making a constitutional power grab, and will probably succeed, even though the joint is an uttter economic basket case.
A 400% annual inflation rate, smuggling and black marketeering are rife, and yet they are sitting on one of the largest oil reserves in the world.
Suddenly it becomes not a very nice place to live.
Daily violent death on the streets, wages become progressively worthless, foods in short supply, guns everywhere, and everything becomes unstable.
But, hang on, didn't the same thing happened during the "oil shock" some 30 odd years ago?
Never mind Maduro's aim of complete abrogation of any attempt at a Democracy - you need a Strongman.
The country has form, but nothing as bad as this.
That's what happens when the arse falls out of oil.

I remember how Hugo Chavez was very fond of donating huge quantities of free fuel oil to the poor and the pensioners of New York City to heat them through the bitter winters as long as it was clearly marked "Gift of Venezuela", so no money would ever change hands.
The Bush Boys hated it, shat them to tears, but they couldn't do a dang thing about it.
Looks like those days have well and truly gone away.
Dead, buried, and cremated.

Photo: The Associated Press.