Earlier (2003!) by Steve Sailer: The Wind from the Southâ€”Anti-White Populism
A loyal VDARE.com reader recently sent me Michael M. Rosenâ€™s piece in the Washington Examiner that tried to explain Venezuelaâ€™s economic and political collapse [How Venezuela was destroyed from within, July 14, 2022]. Rosen blamed corruption and the socialist economic policies of successive regimes. And indeed, this Conservatism Inc.â€™s take on the matter contains a sliver of truth. But as a Venezuelan myself, I can say with certainty that Rosen is only half rightâ€¦and maybe not half. As the VDARE.com reader reminded me, the rise of a mixed-race elite, most notably the late president, Hugo ChÃ¡vez, and the immigration of non-whites from neighboring countries, explains a lot more.
Granted, as Rosen wrote, the fiscal policies of ChÃ¡vez and his successor, strongman NicolÃ¡s Maduro, have wrecked a â€œonce-great countryâ€:
At the height of the economic crisis in 2018, inflation surged to an astronomical 130,000%. Between 2013 and 2019, according to the International Monetary Fund, Venezuelan GDP plummeted by a staggering 65%. By 2020, more than 5 million Venezuelans, out of a total population of 30 million, had fled the country.
Venezuela’s central bank has shared a rare glimpse into the economic turmoil in the country, admitting that its GDP contracted by 22.5% year-on-year in the third quarter of 2018.
That is the first update of the country’s key economic data in four years.