As Venezuela falls into the abyss of economic collapse – the economy has halved in five years, a contraction worse than the Great Depression or the Spanish Civil War – a simplistic narrative in the American press has formed, which starts with the Chavez regime seizing control of the country in 1998.
(The charismatic populist Hugo Chavez is, after all, the leader most Americans are familiar with when talking about Venezuela, as he made worldwide headlines with his 2006 UN speech where he called U.S. President Bush "a devil" while celebrities like Sean Penn and Michael Moore cheered him on.)
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