The Yehudah Project: Venezuela's Crisis, the people are eating their pets!

President, Nicolas Maduro, declared a state of "economic emergency" for 60 days on Friday. Maduro's government stopped publishing any economic data about the country in 2014, other than updates on its shrinking gold and cash reserves. But that changed Friday when Venezuela finally published years of economic data.

And it was ugly. Inflation in Venezuela skyrocketed 141% over the year ending in September, the central bank reported. Incredibly, some experts believe even that figure is understating the problem.

"The country is in economic meltdown," says Edward Glossop, "The figures are predictably horrific." 

A currency worth less than a penny

A year ago, one dollar equaled 175 bolivars. Now a dollar is worth 865 bolivars. Put another way, one bolivar is worth $0.0011 -- less than a penny, according to the unofficial exchange rate on dolartoday.com. 

Food crisis Venezuelans are bearing the brunt of the economy's problems. The government can't pay to import basic food items like milk, flour and eggs, leaving many supermarkets with empty shelves. A year ago, McDonalds (MCD) in Venezuela temporarily ran out of french fries.

Food shortages -- along with lines lasting several hours in hot weather -- are a major source of the social unrest in the country.

"There are no eggs, there's no milk," says Dallen, who frequently travels to Venezuela. "It's getting worse."