Posted on 12/01/2014 2:06:52 PM PST by Citizen Zed
"Scarcity is getting worse in Venezuela. Basic products are so hard to get," said Josseline Viera, a doctor in Venezuela. "It used to be that certain products were scarce, now it's basically everything."
Viera says shortages have made it impossible for hospitals to find essential medical products such as gauze and acetaminophen.
Oil accounts for 95 percent of Venezuela's export earnings,and combined with gas, it's 25 percent of the country's gross domestic product. As the price of oil hits a four-year low at $70 per barrel, the OPEC nation's oil-dependent economy is set to implode, experts say, bringing deeper political instability and chaos to the world's 10th-largest oil exporter.
One analyst at Nomura recently estimated that Venezuela may need oil prices to hit $200 a barrel to balance its budget. (The precise figure is difficult to determine, because Venezuela doesn't disclose as much economic data as other countries do.)
As oil prices keep falling and Venezuela is left empty-handed, its government will have no other option but to increase taxes, impose price controls and potentially eliminate gasoline subsidies for Venezuelans, something that will create unrest in the South American country, according to Diego Moya-Ocampos, a senior political risk analyst at IHS.
(Excerpt) Read more at mob.cnbc.com ...
The Cuban slogan of “Socialismo o muerte” was deeply embraced by Chavez and his friends in Venezuela. Now it appears to me to be becoming like the old Jack Benny sketch facing a mugger; “Your money or your life!”
I wonder how the Venezuelan’s are going to answer?
Chavez wouldn’t have cared, he got filthy rich off of socialism.
Socialism was never invented to benefit the people but always practiced to control the people.
Socialismo y muerte.
If ever a country needed a MILITARY COUP.....
Collectivism. Making everyone equal to death.
The "Venezuela" document is being prepared by Valerie right now. I want you all to study it for
our next meeting. They are doing the right things down there and we all have to be on board.
Bookmark
Pedantically, while I agree with your sentiment but for history it is 'o' (or) not 'y' (and).
Aye Cap'n..., the floggings must increase until morale improves!
I guess letting everybody vote isn’t such a good idea after all.
First they elected a communist idiot dictator and then a communist idiot bus driver.
Yes, I know it uses the ‘o’, I was merely stating what it really means.
Economic version at post #34.
“I’d bet Hugo would take Venezuela at its worst instead of his present circumstances.”
I’d like to think old Hugo is sitting there with a brand new air conditioner, but nowhere in Hell to plug it in!
They used to do their spring training in Venezuela.
White House praises Venezuelan people after Chavez victory
http://thehill.com/policy/international/260819-white-house-praises-venezuelan-people-on-election-notes-differences-with-chavez
Yep, socialism is nothing but a system of the ruling elite and the peasants. And no one would ever think that the ruling elite should live like the peasants.
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