Venezuela heading for a Soviet style collapse?

Some are saying it is.

Venezuela is not the first developed country to put itself on track to fall into a catastrophic economic crisis. But it is in the relatively unusual situation of having done so while in possession of enormous oil assets. There aren’t many precedents to help understand how this could have happened and what is likely to happen next.

There is, however, at least one — the Soviet Union’s similar devastation in the late 1980s. Its fate may be instructive for Venezuela — which is not to suggest Venezuelans, least of all the regime of Nicolás Maduro, will like what it portends.

Frankly, I don’t think it is going to happen. It’s going to collapse, but it is way too late for it to have a relatively peaceful collapse like that of the Soviet Union. No, it will be far uglier than that.

Hey. Where are Danny Glover and Sean Penn to tell us what an economic miracle was Hugo Chavez’s Bolivarian Revolution and how much America could learn from it? They have been conspicuously silent on the miracle lately.