Bernie Sanders, and a legion of college kids, wants the US to adopt socialism. Venezuela, a rapidly developing nation at the time, did just that in the late 1990's under Hugo Chavez. The rhetoric was the same: fairness, equality, stop the rich from controlling things. And Chavez followed the socialist playbook--taxes, nationalizations and lots and lots of free goodies for his supporters. Here is a report from the Daily Beast--hardly a conservative website--about the results almost 20 years later.
Keep in mind, this wasn't caused by a war or an unforecast economic depression. This was caused by dedicated communists/socialists implementing the same policies socialists preach everywhere:
http://www.thedailybeast.com/article...venezuela.html.