The Indicator from Planet Money
The Indicator from Planet Money

Venezuela’s economic descent (Updated)

January 3, 2026

AI Summary

5 min read

🎙️ The Speakers & Context

  • The Format: Radio-style investigative reporting blending archival audio, on-the-ground interviews, and a fictional crisis update into a forensic economic autopsy.
  • The Key Players:
    • Gabriela Sade (Venezuelan Economist): Lived Venezuela's hyperinflation firsthand as a $300/month professional before emigrating; now advises Behavioral Insights Team, providing remittances data and real-time strike observations.
    • Jesus Palacios (Ecoanalytica Economist): Tracks Venezuela's GDP growth and inequality metrics; quantifies policy shifts like import liberalization driving 4% annual expansion.
    • Jennifer Ontiveros (Caracas Housekeeper): Represents the 80% in poverty; illustrates grassroots survival amid elite Ferrari dealerships.

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What you'll learn

  • 1 **(00:00) 🎙️ Introduction: Gabriela Sade, Venezuelan Economist**
  • 2 **(01:05) Historical Economic Collapse Under Chávez and Maduro**
  • 3 **(04:09) Gabriela's 2024 Caracas Check-In: Supermarket Revival and De Facto Dollarization**
  • 4 **(06:46) Economic Reforms, Growth, and Persistent Inequality (feat. Jesús Palacios)**
  • 5 **(08:21) Daily Struggles of Ordinary Venezuelans (feat. Jennifer Ontiveros)**
  • 6 **(09:35) Hope for Return and Stabilization**
  • 7 **(10:00) 2026 Update: US Military Intervention and Caracas Chaos**

+ Full timestamped outline available in the app

Show Notes

At The Indicator, we’ve been following the conditions in Venezuela over the years. In 2024 we covered how Venezuela’s economy went into freefall, and have been checking in with an economist there frequently — including after the U.S. attacked over the weekend, deposing its leader Nicolás Maduro.

On today’s show, we’re revisiting our episode about Venezuela’s economy, and hear from our contact in Caracas. 

Send us questions you’d like The Indicator to answer on future episodes about Venezuela: [email protected].

Related episodes: The Measure of a Tragedy Why are Venezuelans starving? An Economist in Caracas: Day In The Life 

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The Indicator from Planet Money