As Denmark's queen abdicated and Frederik X became (hopefully our last) king, I was forwarding this in the family group chat with the comment "more important things are also happening in the world right now"
Yes and no: while this is technically correct, flavorful or tasty is more frequently used about food, whereas tasteful is more often used about the other definition of taste, like for example aesthetics or, as I'm alluding to here, tasteful artistic nudity 😁
Venezuela is an example of a petrostate, where the government is highly dependent on fossil fuel income.
Petrostates are vulnerable to what economists call Dutch disease, in which a government develops an unhealthy dependence on natural resource exports to the detriment of other sectors.
The oil price plunge from more than $100 per barrel in 2014 to under $30 per barrel in early 2016 sent Venezuela into an economic and political spiral, and despite rising prices since then, conditions remain bleak.
(Source: Council of Foreign Relations)
So yeah, socialism didn't kill the Venezuelan economy, over-reliance on fossil fuel did.
As Denmark's queen abdicated and Frederik X became (hopefully our last) king, I was forwarding this in the family group chat with the comment "more important things are also happening in the world right now"