VENEZUELA'S TRAGIC DECLINE FROM PROSPERITY TO AUTHORITARIANISM Colleague Professor Evan Ellis. Historical imagery reveals Venezuela's transformation from a prosperous, modern nation in the 1950s to a ruined state today. Deep inequality and corruption in the pre-Chavez era alienated the poor, allowing Hugo Chavez to capitalize on their frustration and dismantle the free market system, leading to the current crisis. NUMBER 6

1948 CARACAS

CHINA'S SURREPTITIOUS SUPPORT KEEPS THE MADURO REGIME AFLOAT Colleague Professor Evan Ellis. China sustains the Maduro regime through loans, surveillance technology, and military equipment while bypassing sanctions to import Venezuelan oil. The state oil company, PDVSA, collapsed due to the purging of technical experts and lack of investment, forcing Venezuela to rely on Iranian engineers to maintain minimal production. NUMBER 5

1902 CARACAS

SPAIN'S GOVERNMENT MAINTAINS TIES WITH VENEZUELA DESPITE OPPOSITION Colleague Mary Anastasia O'Grady. The Spanish government under Pedro Sanchez maintains ideological and economic alliances with the Maduro regime, prioritizing political agendas over democratic ideals. Opposition figure Cayetana Alvarez de Toledo accuses former Prime Minister Zapatero of acting as an international agent for Maduro, facilitating the dictatorship's survival despite mass migration. NUMBER 4

1900

CALIFORNIA JOB LOSSES AND CHINA'S ECONOMIC SLOWDOWN AMID RETAIL SEASON Colleague Chris Riegel. California's new wage mandates have triggered significant job losses in the fast-food sector, forcing operators to move to lower-tax states. Internationally, while China boasts of leads in AI and EVs, these sectors rely on unsustainable subsidies, masking a deep consumer recession and deflation in the property market. NUMBER 3

1848 SAN DIEGO

NATO AND EU SEEK DEFENSE FUNDS AMID FEARS OF RUSSIAN AGGRESSION Colleague Anatol Lieven. European nations like Finland are demanding funds to counter perceived Russian threats, despite a lack of historical aggression toward them. Lieven argues that plans to spend billions on tanks are misguided, as the Ukraine war demonstrates that expensive armor is easily destroyed by cheaper drones and defensive lines. NUMBER 2

1897 BRUSSELS

CRUNCH EU SUMMIT DISCUSSES USING FROZEN RUSSIAN ASSETS FOR UKRAINE Colleague Anatol Lieven. The European Union is internally divided over seizing frozen Russian assets to fund Ukraine's war effort and reconstruction, a move requiring rule changes that some members resist. While the US proposes using these funds for post-war rebuilding, current plans risk spending the capital on immediate warfare, potentially undermining international financial trust. NUMBER 1

1811 BRUSSELS

PREVIEW Guest: Michael Bernstam Summary: Michael Bernstam analyzes declining oil prices, noting a global glut that has pushed prices under $60 per barrel. He explains that because Russia loses roughly $2.7 billion for every $10 price drop and sells at a deep discount, current revenues are insufficient to sustain its budget or war effort.

1914

PREVIEW Guest: Professor Evan Ellis Summary: Professor Ellis discusses Venezuela's tragic fall from 1950s oil wealth to current dysfunction, attributing it to the "resource curse" and corruption. He explains how Hugo Chavezappealed to the forgotten poor to dismantle free markets and establish a criminal state involved in drug trafficking and illegal mining.

1958 CARACAS ATTACKING NIXON

PREVIEW Guest: Anatol Lieven Summary: Anatol Lieven critiques NATO defense spending, arguing that while Germany prioritizes tanks to support its auto industry, effective defense against Russia requires cheaper solutions like drones and mines. He warns that expensive armored vehicles may prove "suicidal" in modern war, whereas cheaper defenses are more practical.

1870 SIEGE OF PARIS

PREVIEW Guest: Professor Ed Watts Summary: Professor Watts details the historical inevitability of conflict between Rome and Carthage, driven by Mediterranean geography and control over trade routes between the wealthy East and resource-rich West. He explains how Rome's expansion into Sicily threatened Carthage's commercial dominance, a fate symbolized by the death of Dido.

1900 CARTHAGE