Submitted by Michael Snyder via The End of The American Dream blog,

We are watching an entire nation collapse right in front of our eyes.  As you read this article, there are severe shortages of just about anything you can imagine in Venezuela.  That includes food, toilet paper, medicine, electricity and even Coca-Cola.  All over the country, people are standing in extremely long lines for hours on end just hoping that they will be able to purchase some provisions for their hungry families.  At times when there hasn’t been anything for the people that have waited in those long lines, full-blown riots have broken out.
All of this is happening even though Venezuela has not been hit by a war, a major natural disaster, a terror attack, an EMP burst or any other type of significant “black swan” event.  When debt spirals out of control, currency manipulation goes too far and government interference reaches ridiculous extremes, this is what can happen to an economy.  The following are 8 lessons that we can learn from the epic economic meltdown in Venezuela…
#1 During an economic collapse, severe shortages of basic supplies can happen very rapidly…

“There’s a shortage of everything at some level,” says Ricardo Cusanno, vice president of Venezuela’s Chamber of Commerce. Cusanno says 85% of companies in Venezuela have halted production to some extent.

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