Venezuela Braces for Two Large Demonstrations

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Feb. 21 (Bloomberg) –- In today’s “Global Outlook,” Bloomberg’s Katia Porzecanski reports on the civil unrest on the streets in Venezuela over inflation and the scarcity of food and medicine. She speaks to Matt Miller and Julie Hyman on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Correspondent.

What is going on?

It seems like because of what is going on in ukraine, the media has in large part ignored what is going on in and is lela.

-- in venezuela.

And venezuela is a two-hour ride from miami.

It is an economic situation spiraling out of control.

The inflation is insane.

Inflation is insane.

They can't keep products on the shelves.

They have the scarcity index of 28% which means at any given time one in four products will not be available to buy.

You have a lack of toilet paper, milk, and medicine.

We had reporters and caracas who interviewed a man whose 10 month old son has a failing liver and he has to travel on an eight -hour odyssey to get him the medicine he needs.

When he does did it, he has to pay five times the time.

You can't get any groceries that are good.

Any money you can access from an atm is worthless by the time you got it out.

It is a security issue.

The crime there is rampant.

One of the things that sparked the latest round of protests, there was an attempted rape of a college student and they were not satisfied by the response of the authorities.

There is a lot of situations that are going on here.

These elements all play into just civil unrest that is taking to the streets, because that is the best way to show you are angry with the government.

Speaking of violence, these protests have been met with extremely violent oppression.

From the state side?

You have national guards throwing tear gas into people's faces.

There are motorcycle gangs going around with machine guns shooting at people, into crowds, into buildings.

The national guard is just standing by.

It is really the wild west.

At least in ukraine, you have the eu, international overseers.

Where will any piece, for venezuela -- when will any peace come for venezuela?

Analyst say that it could be brought under control if for instance they released leopoldo lopez from prison -- he opposition leader.

Radcom a the opposition leader -- rights, the opposition leader.

Nobody knows where it can go.

Most analysts say, is this the end of the government -- for now?

We have been watching the bonds as a response to that situation.

And distressed debt investors are paying attention to this situation.

This text has been automatically generated. It may not be 100% accurate.

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