good post but I disagree with something you said. You stated that for a Venezuelan the change was not so noticeable thought the last seven years and this I just not true. We noticed when there was way less food in the market, we noticed the economy going 2 trash but the poor liked the free things they would get. this lead to Chavez winning the votes and then Maduro cheating in the elections.
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The problem in Venezuela started in the last decade with the expropriations and the currency exchange control, destroying liberty and freedom of the individual, besides Chavez increasing his power leaving any institutions with no independence. People obviously noticed the collapse after what happened to oil prices in 2014, but the recipe for a disaster was already written years before, and a lot of people didn't realize it.