Another problem though: oil over $70 a barrel kills the economy and oil under $40 a barrel bankrupts the oil industry. We have been replacing cheap oil with debt and are hitting peak debt at the same time we are hitting peak cheap oil. financial repression and the inability of our economy to raise interest rates is also a reflection of the end of cheap oil and is why our monetary system is collapsing.

The overarching point of this article is that interpreting Venezuela’s problems in a classic left vs right political frame misses too much fundamental information to be useful.

SGI Buddhist, Loves Irish and Latin American Literature, History buff, knows a great deal about Medicare

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