Posted on 01/23/2023 1:39:34 PM PST by dynachrome
Inflation in Venezuela hit 234% in 2022, Vice President Delcy Rodriguez said on Monday, representing a slowdown from the previous year, as the South American country struggles with a deep and lengthy economic crisis.
Rodriguez provided the inflation rate during a meeting with Turkish and Venezuelan business leaders. Venezuela's central bank infrequently publishes economic data, and has not given inflation data since October.
For months, socialist President Nicolas Maduro and his government was able to keep a lid on consumer price inflation with rigid economic policies, including anchoring the exchange rate, limiting public spending and increasing taxes.
(Excerpt) Read more at reuters.com ...
All madmanduro cares about is himself.
Maduro reminds me of Stalin. How about anyone else?
If BRICS goes through and catches on, we will be in the same boat as all that funny money comes back home to roost
It will be coming to America if we do not get our fiscal house in order.
Here is what we need to know about Venezuela:
1) There was an earthquake in Caracas a few years ago. There was footage that popped up online from there and other cities showing people pouring out of shaking buildings.
Not a single one of them looked like Jewish concentration camp photos of starvation. Not a single one. But US media for years manufactured empty grocery store pics and said people were fleeing the country because they had no food.
2) Maduro has won his elections. There is little doubt about 2015, though there was challenge and outcry. Then in 2018 there was another, scheduled for his advantage (much like ruling parties of the UK do) and amid louder outcry, he won that too. Note that most of the outcry is international, who have no say in the matter.
3) He, and before him Chavez, won those elections by pouring money into the poorest areas. The votes of peasants come to him. The pro capitalist people rage about this and say the poor can never progress because of this. But that’s where the majority vote comes from and if the majority opposes a policy, then that policy loses.
4) Venezuela’s oil is nearly all extra heavy and viscous. Orinoco heavy, named after a big river there. The latest talk of Chevron selling some oil (some of the small portion that is light) is almost certainly overhyped and meaningless, because Petrochina, Rosneft and Sinopec have poured money (as loans mostly) into Venezuela for oil field development and indeed, refineries that can process the very low API (viscous) oil. Chevron is not needed. This ongoing propaganda about spectacular technical advantages by US oil companies is just absurd. There is no expertise that cannot be bought, and generally speaking, Rosneft knows more than they do, regardless.
So there. Bottom line. Largely ignore all Venezuela stories from US media. These sanctions have been in place a long time now and all they have done is get Maduro recognized as president, after all.
Coming soon to a Bidenation near you.
Never go full Venezuelan.
it’s transitory, nothing to worry about
Both are commies with big mustaches.
They slowed down to give us a chance to catch up.
Exactly. Like Biden, he doesn’t care.
"Inflation in 2021 was more than 686%, according to the country's central bank."
PedoJoe Bidet hails Venezuela as a model for the USA!
Wow - what a relief - prices are only more than tripling now.
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