Fox Business’ Elizabeth McDonald has obtained some horrifying footage of hungry Venezuelans eating from the garbage, as the nation continues its death spiral brought on by a dependence on oil and socialist tendencies. In April, the nation’s chamber of food noted that food producers had about 15 days of inventory left. Mass looting of supermarkets has ensued. It’s become so bad that there are reports of Venezuelans hunting dogs, cats, and birds for sustenance. Rolling blackouts are common, which has impacted hospitals, which lack basic medical supplies, including soap and gloves. Things have become so bad that dead and dying babies are becoming the norm.
Now, on top of hungry Venezuelans prying into trashcans, the nation could be on the verge of defaulting on its massive debt (via Fox Business):
People in the nation’s capital, Caracas, have resorted to eating and fighting over old food thrown away in garbage bags outside shopping malls where restaurants are located.
"They're ripping through garbage bags searching for food, the government says this is not happening, but we are very hungry here in Venezuela," says a male bystander on camera. A local says: "We are starving, we are eating dog food and food meant for farm animals."
Another video shows drivers in Venezuela pulling over to join in the ambush and looting off grocery trucks. That is what happened on the national highway to Puerto Ordaz, in southern Venezuela, where the country's largest oil reserve and a major steel operation is located. The National Guard is shown on camera standing back, not doing anything.
"People are starving, the last resort for them is to loot and steal rice," one bystander says on camera. "The National Guard is here but no one is paying any attention to them at all, they're letting it happen."
The situation in Venezuela is growing more desperate by the hour as its unraveling socialist economy is trapped in a debt vice. The collapse in oil prices has Venezuela’s President Nicolas Maduro, the handpicked successor of Hugo Chavez, desperately fighting to avoid a default on its $185 billion in debt. Wall Street and government sources indicate that would be the largest default in history, with Venezuela’s debt about double the roughly $100 billion in debt Argentina had when it defaulted in 2001. Estimates of the amount of assets and reserves remaining in Venezuela that could be used to pay back its debt have ranged from Bank of America Corp.’s $50 billion to as low as Nomura Holdings’ $10 billion. Venezuela’s foreign reserves have sunk to their lowest levels in 13 years.
Law and order has reportedly broke down, with children’s lunches being stolen by hungry “thugs.” Coca-Cola has halted production due to a sugar shortage—and toilet paper has become a luxury item. It’s just a complete mess.