Venezuela on the Verge of Collapse

Hosted by

In Venezuela, spontaneous protests erupted Thursday near the Presidential Palace in Caracas. Over one hundred people ran through the streets chanting, “No more talk. We want food." Venezuela is in the midst of a political and economic crisis. Plummeting oil prices have wiped out the economy; the country’s rate of inflation has skyrocketed, up 700 percent by some estimates. Add to that, prolonged power blackouts as a result of drought and El Nino, and a food shortage, and you have the ingredients for mass unrest. Critics say the leftist President, Nicolas Maduro, hasn’t addressed the needs of the people, and some U.S. intelligence officials say Venezuela might be on the verge of collapse. We speak with reporter Nicholas Casey who recently returned from Caracas about what life is like for Venezuelans right now.