THE "BEST" 10 YEARS OF CHÁVEZ

For the past 10 years, Venezuela has enjoyed the largest oil income in all her history. This government has come into possession of almost US$800,000,000,000, a figure which converted into VEBs, either strong or weak ones, at either the official exchange rate or the parallel yardstick, is even larger, practically unimaginable. But with nearly 800 billion dollars, the country today is worse off than it was 10 years ago.

The situation in Venezuela has consistently worsened during the last few years. For example, in 1998, the number of homicides was around 5,000 a year, which already was a tragically impressive figure. A decade later, in 2008, about 15,000 citizens were murdered in the country. In Caracas, crime reached 130 killings per 100,000 inhabitants, making Caracas the most dangerous city in the world, and enabling her to win the baleful distinction of "death capital" bestowed by some international publications. In fact, it could be said that a silent civil war is being waged in Venezuela, as not even in countries with serious internal conflicts, such as Afghanistan or Iraq there is a fraction of the murders existing here.

In addition to the criminality and insecurity everywhere, Venezuela is undergoing a speedy destruction and collapse of her social, political, and economic structures. Just to mention the economy issue, despite the most bountiful oil bonanza in history, Venezuela boasts the highest inflation on the continent, experiences an anachronic currency exchange control, endures terrible shortage of basic goods, keeps an elevated rate of unemployment, possesses a broken-down infrastructure, and a huge housing deficit.

Some people have said that in Venezuela there are neither good presidents nor bad presidents, but presidents with high-priced oil or presidents with low-priced oil. After having experienced the Venezuelan situation during these ten years of economic prosperity and oil bonanza, it is not difficult to imagine what is in the offing now that hard times lie ahead. The last decade showed the "best" - in fact, only the least bad - years. We will just have to wait and see what the worst years of Chávez will be like.