Why is Venezuela falling apart?

During a 15 minute phone call, US President Donald Trump offered the Venezuelan President Nicolas Maduro safe passage for him and his family to the country of their choice, if they left Venezuela immediately. The deal seems to have fallen through and now Maduro is in hiding, and for the last few weeks, Maduro has reportedly slept in a different house every night. So why is the country with the most proven oil reserves on the planet enduring an economic meltdown that is so grave the President is now on the run?   

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