Empty shelves, deepening recession and soaring inflation have hit Venezuela as the price of oil drops to the lowest levels since 2009. Many are standing in line for hours to buy basic subsidised goods such as milk, soap and diapers. President Nicolas Maduro, who has a 22 per cent approval rating, admitted his country is in a crisis but blames his political foes. The opposition, who has called for protests, says the troubled economy is a result of years of corruption and misguided policies. 

In this episode of The Stream, we speak with:

George Ciccariello-Maher @ciccmaher
Author, We Created Chavez
georgeciccariello.com

David Smilde @dsmilde
Sociology professor, Tulane University
venezuelablog.tumblr.com

Isabel Pisani @isabelpisani
Student, Universidad Metropolitana

Emiliana Duarte Otero @emiduarte
Blogger, Caracas Chronicles
caracaschronicles.com

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