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peppertree

(23,266 posts)
1. I remember the first big wave of Venezuelan emigration after the 1982/83 collapse.
Thu Mar 12, 2026, 12:35 PM
14 hrs ago

As a university colleague of my father's explained:

"Venezuela has changed in that, ten years ago (1979), we were very, very rich and very, very decadent - and now, we are very, very poor, and very, very decadent."

So many countries in the region went through that same collapse in the 1980s - after $400 billion in high-interest foreign debt was taken on, mainly to finance dollarizing and offshoring by the region's own (mostly fascist) elites.

And Cheeto is leading the U.S. down the same path.

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