Venezuela

For citizens of Nicolas Maduro's socialist paradise the news is terrible, and getting worse with every passing day.

In November 2014, just after OPEC officially died with the 2014 Thanksgiving massacre which was the first oil-crushing catalyst that has led to crude's relentless decline since Saudi Arabia officially broke off with the rest of the cartel, sending the black gold to a price of around $28 per barrel, we revealed who the first oil-exporting casualty of the crude carnage would be: the Latin American socialist paradise that is Venezuela.

Venezuela have passed a new law in December 2015 that effectively bans GMOs from the country.  The law imposes one of the toughest regulations on genetically modified organisms (GMOs) in the world. The anti-GMO law was approved by the National Assembly of Venezuela, and passed by popular demand. Ecowatch.com reports: Today, the new opposition coalition—the Roundtable of Democratic Unity—will take over.

Submitted by Emiliana Disilvestro & David Howden via The Mises Institute,

Venezuela is currently going through its worst crisis in history, replete with an endless list of interesting problems. Foremost among these are severe shortages in even the most basic of necessities. Economists have used these shortages as textbook examples to illustrate the pernicious effects of price controls.