It is no secret that Venezuela's economy is not faring well these days. However, the inflation rate of over 150 percent meant that the value of their money has become so small, they had to carry around bundles of bills everywhere, making basic transactions quite a challenge.

For instance, as Time Magazine noted, $200 is equivalent to 180,ooo bolivars -- the Venezuelan currency -- which is enough to fill half a backpack.

To put it in even simpler terms: a large McDonald's fries will cost you around $126 in Venezuela, while a small one will cost around $79, as noted by Fortune.

The hyperinflation is just the latest symbol of Venezuela's crumbling economy. The dropping crude oil prices also has something to contribute, considering that the South American nation's oil accounts for 95% of their revenue, and according to Bloomberg, this has caused foreign exchange reserves to dwindle drastically, vaporizing people's salaries. It has contributed to chronic shortages of basic necessities like food and to hygienic products like toilet paper. These problems have been apparent since the nation was ruled by the socialist alliance of the late Hugo Chavez in 1999.

Regis Chatellier, a strategist at Societe General said, "It's a collapsing economy with a massive shortage of dollars, and these guys are printing as much money as they can to survive. At these levels, the shortage of dollars is such that it will be difficult for them to pay debt coming due at the end of this year. The risk of default is increasing substantially."

There could still be hope for the South American nation, though. Chavez's socialist alliance is being opposed by what has come together as a Democratic Unity Coalition, whose campaign platform for the December 6 elections has put the economy first. Time noted that recent polls showed the Democratic party being ahead by over 15 points against the Chavistas, putting it on the path to finally end the socialist rule.

Of course, for this to end, the Venezuelan people must take back what's theirs. As stated in an article via Foreign Policy, there will be no democratic change unless people participate in the democratic process -- that's to say, they should vote to end the socialist regime.

So who is to blame for Venezuela's current crisis? Economist and congressional candidate, Miguel Veliz, told Time, "The government is in control of the economy so it is the one to blame. Its chronic mismanagement has given way to the inflation and shortages. It has devastated the abilities of companies in Venezuela to produce."