Whether you want socialism or not depends on where you imagine yourself to be in this picture: the face, or the boot.
Posted on 01/01/2019 3:31:36 PM PST by Libloather
**SNIP**
Venezuela is ‘an ice cube’
The end result of the country’s decline, in terms of society, has been extreme poverty and hunger.
In 2017, the average Venezuelan citizen lost around 24 pounds in 2017, about 73 people were murdered a day. And the rule of law is also breaking down: According to the country’s Prosecutor General’s office, 98% of crimes in 2014 were not prosecuted.
Hyperinflation and the introduction of President Nicolas Maduro’s unique cryptocurrency has made the bolivar essentially worthless. The International Organization for Migration (IOM) noted that three million Venezuelans have sought refuge, hoping to find a new and safer place they can call home.
Price explained it is best to think of Venezuela “as an ice cube. … The second you get that currency in your hand, it’s going to start melting and it’s going to start losing its value because of hyperinflation.”
(Excerpt) Read more at news.yahoo.com ...
Whether you want socialism or not depends on where you imagine yourself to be in this picture: the face, or the boot.
Not all the people, but those that were miseducated and naive and thus believed that they would benefit if the government took charge of everything. The government would give them everything for free - education, healthcare, unemployment and retirement benefits, housing, you name it. They would pay for it by taxing the crap out of rich and successful people as well as large businesses and banks who are just too greedy and make (gasp!!) profits.
So where have I been hearing similar promises recently? Hmmmm ...
That suggests marketable skills in the diet and weight-loss industries. Business opportunities?
Just another day in a communist utopia...just living the life!!!!!
Too much money causes the inflation
...
Like the trillions of dollars that were used to keep the Obama economy afloat? Inflation in that sense has already happened. Choking off economic growth now with tighter money is destructive and inflationary in the long run.
It increases our interest payments on the debt and increases the trade imbalance that Trump is trying to fix as well as hurting economic growth.
Inflation is caused by printing money with nothing to back it (e.g. gold).
...
A gold peg can work on a temporary basis when a currency is in crisis. There isn’t enough gold long term, but there is enough goods and services in the economy provided that there is good economic growth not being hindered by government policy.
Look at historical cases of inflation and you’ll see that it’s triggered by a drop in productivity, not economic growth. Even the Wiemar Republic’s inflation was triggered by a massive work stoppage.
The weird thing is the US is by a large margin Venezuel’s biggest trading partner. Now that they have decided to house Russian supersonic planes on one of their islands time to create a revolution there and dump them as a trading partner at least until Maduro is hanging from a lamp post
Because they’re ignorant and stupid!
And want everything Handed to them for free!
inflation is the result of bad monetary policies.
Hyper inflation is nothing more than the govt printing money to pay tthe excess spending and or to pay debts.
In reality, it is a hidden tax. Germany in the 20’s, America in the 70’s, and now Venezuela.
No, inflation is caused by printing currency that has nothing to back it
Not doubting the message (great graphic, btw)....just curious where you came across MADuro’s weight gain stat.
:-)
The article is blaming all their problems on the price of oil dropping. Sheesh.
I think it is both, and a bit more complicated.
The hyperinflation is both a symptom and adds to the problem.
Yep, this is not one of those instances you can use Occam’s Razor to ascribe causation. A county’s economy is a complex beast with many variables working in conjunction. If it were not, we in the U.S would have been able to avoid our own economic problems. I would submit to every person using ‘oil price drop’ as the reason for Venezuela’s woes to explain why other OPEC and non-OPEC countries with oil based economies have not suffered the same ills as Venezuela? I would add, the only element that can influence, and dare I say control, many of the variables influencing a country’s economy are the government’s policies. In Venezuela’s case, these policies have been of the socialist bent for approximately 20 years. Look no further than that fact to explain why Venezuela is where it is today.
Regards.
Very much agree. The article trying to blame just the oil prices on their woes made me think of how the libs keep trying to demonize ‘big oil’.
Their demonizing of groups is very troubling. But their belief of particular groups being ‘targets’ is even more fearsome.
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