Detailed text transcripts for TV channel - CNN - 20170802:07

Detailed text transcripts for TV channel - CNN - 20170802:07:39:00

backdrop to this is such a poor economy and then of course you've got this possibility of more u.s. sanctions. against venezuela. how is that going to play into this? >> the economy is a mess. if what the world bank estimates is true it means in two years the economy will decline 30%. i mean, that's the same size as the decline in the u.s. economy during the great depression. it's just gigantic. and oil production is dropping by the way. not increasing but dropping. >> they're in a fix. they can't import food or medicine. inflation is out of control and they don't have the money to reinvest in the oil fields. >> we are writing the constitution by maduro is going to make matters worse, clearly but keep him in power and that's his goal.

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