Well judging on the rise and fall of things, Venezula's situation is to be expected.

Empires come and fall within these few steps

Step 1: Start out as a fledgling new middle power with benign intentions

Step 2: Rise up as a potential superpower

Step 3: Get drunk with the power

Step 4: Become too overconfident that you are too big to fail

Step 5: You slowly start to fail

Step 6: If its a democracy at step 1, a dictatorship will be formed. If already dictatorship at step 1, dictator becomes more insane and does stuff he previously would not do

Step 7: Things are good temporarily, you ain't a power, but you are in a good place

Step 8: Sudden unforeseen problem

Step 9: VIVE LA REVOLUCION !!!

Step 10: You are no longer great, just a once proud nation, within the likes of most former European Colonial empires

Step 11: Slowly degrade and rot into the history books