Fortunately this post is short because I just need to redirect you to a great article of Moisés Naím in El País of Spain. Spanish version here and English version there.
This article is remarkable not for its style, it is a list, nor for its writing, it is a list, but for the precision, concision and the "to the point-ness" you sense when you read it. Clearly Mr. Naím is past any illusion as to the future of Venezuela and what is actually scary in his article is that there is nothing that you can nitpick.
What I would like to underline is the last paragraph where Mr. Naím puts clearly part of the blame for the situation on Brazil who had no qualms in letting Venezuela deteriorate as long as it became its bigger provider of everything. I will add that Brazil has behaved towards Venezuela as any imperial colonial power had, using the weakness of the natives for its own selfish benefit. It is remarkable, for me at least, that such a notable intellectual from the center left in all of its modern meaning takes down Lula AND Rousseff the way he does, just after a campaign where Capriles failed even though they tried to embrace Brazil current model if it were the last life jacket available.