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From Collapse to Confrontation: The U.S.–Venezuela Standoff

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On January 3rd, U.S. forces launched a military strike on Venezuela, capturing President Nicolás Maduro and flying him to New York to face federal narco-terrorism charges. President Trump announced the U.S. would "run the country" until a transition of power could take place.

This episode was recorded before those events—but the conversation helps explain how we got here.

Venezuela was once the wealthiest country in Latin America. Between 2012 and 2020, it experienced the largest peacetime economic collapse ever documented—a 71% decline in per capita GDP. After…

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