<p>We hear words like &ldquo;inflation&rdquo; all the time, but what does that word really mean for the people of Venezuela? ;</p>
<p>Venezuela is currently ranked as the worst economy in the world. The country struggles with severe food and medicine shortages, political turmoil, violence, and drug trafficking.</p>
<p>As we have argued in several past articles, the crisis in Venezuela is the direct result of years of corrupt socialist rule combined with the crash in oil prices. ;</p>
<p>Venezuela&#8217;s inflation rate hit an all-time high of 800% in December 2016, and the value of the bolivar continues to drop day by day:</p>
<p>&bull; In 2013, 1 USD equaled 31.45 bolivars</p>
<p>&bull; In 2014, 1 USD equaled 76.05 bolivars ;</p>
<p>&bull; In 2015, 1 USD equaled 682.40 bolivars ;</p>
<p>&bull; In 2016, 1 USD equaled 1,010.80 bolivars ;</p>
<p>&bull; In January 2017, 1 USD equaled 9,787.75 bolivars ;</p>
<p>Today, 1 USD is worth 10,389 bolivars &ndash; which means that a single bolivar is worth less than .0001 USD.</p>
<p>To put this into perspective, a person earning the equivalent of $20 per hour in Venezuela in 2013 is now making 6 cents per hour. Your savings of $10,000 is now worth $30. ;</p>
<p>On the flipside, a loaf of bread that cost $2 in 2013 now costs more than $600. Customers literally carry their money in sacks when they go to the store. ;</p>
<p>Many parents are choosing to go hungry in order to keep their children fed. Others loot garbage bins or attack food trucks before they get to the supermarket.  ; ;</p>
<p>In more recent news, Venezuela has voted to approve changes to its constitution that will give socialist President Nicolas Maduro even more power. As I wrote in a previous article, the vote was heavily manipulated by Maduro&rsquo;s government. ;</p>
<p><strong>Editor&#8217;s note:</strong> I happened to be in Beirut when the Lebanese ;pound fell from 30 pounds to the dollar, to 600 pounds to the dollar within a 30 day period. The tension in the air was palpable as the people started to realize their jobs no longer paid a living wage, and their families no longer had any means of support. The country quickly fell into further chaos from there.  ;This is what we are witnessing with Venezuela.</p>
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