Venezuela is running out of just about everything. Food, medicine, electricity, toilet paper, condoms — you name it. And over the weekend at least two large international airlines — Lufthansa and LATAM — said they will suspend service to Venezuela in the coming months due to the economic crisis. The widespread scarcities and fleeing businesses reflect a country in crisis. “There’s a shortage of everything at some level,” says Ricardo Cusanno, vice president of Venezuela’s Chamber of Commerce. Cusanno says 85% of companies in Venezuela have halted production to some extent. Venezuela’s economy is spiraling into extreme recession. It is ironic given that the country sits on the world’s largest proven oil reserves of oil. However Venezuela hasn’t cut back from expensive government spending even as oil prices have lost half its value in the past two years. An oppostion-led Congress is pushing for the ouster […]