Customers walk carrying oil among empty shelves inside a Makro supermarket in Caracas. Consumer prices in Venezuela rose 64 percent in the 12 months to November.
Coming to a Costco near you compliments of Obama.
Posted on 01/12/2015 12:24:06 PM PST by Kartographer
Venezuela, mired in a recession and with the highest inflation rate in the Americas, is suffering from chronic shortages of goods ranging from diapers to flour that have worsened this year due to an ebb in deliveries during Christmas.
The scarcity of goods has forced many shoppers across the OPEC nation to queue up in front of supermarkets before dawn. The inflation rate hit 63.6 percent in the 12 months to November.
The MUD accused National Guard troops posted to maintain order outside shops of banning photos and videos of the lines that sometimes snake around blocks.
"Not only is the government forcing people to get into humiliating queues... it also wants the lines to be 'Cuban-style,' silent and terrified," said MUD chief Jesus Torrealba.
(Excerpt) Read more at ca.news.yahoo.com ...
Preppers’ PING!!
Awwwww, the wonders of socialism!
“Not only is the government forcing people to get into humiliating queues... it also wants the lines to be ‘Cuban-style,’ silent and terrified,”
Fear is what socialism works on.
Every time, every freakin’ time, socialism is tried, shortages like this happen. Every mother loving time. And yet, it still continues to be tried. Amazing.
What do you expect from an economic system that wants everything to be free. Hugo Chavez promised them that. Too bad he dead and he’ll miss the wreckage he brought upon his people.
Socialism - It’s Fantastic!
I was going to ask who would buy those rights from a nation that has a history of welching on deals ... But then I remembered that blue water navy that China is building.
How do you spell “Guido” in Chinese?
Obviously free markets (I prefer this phrase to Marx’s ‘capitalism’) have failed and they need more socialism. And I have several relatives that actually, completely, believe that.
They depend on Oil and the price of Oil is falling.
The current exchange rate is 190 Bolivars for 1 U.S. Dollar.
The current rate of inflation is about 1 Bolivar a day.
The former Bus Driver that is now Dictator is on world tour to beg for money and help.
Hopefully Chavez has a ringside view from his seat in Hell.
Venezuela, in a Quiet Shift, Gives Foreign Partners More Control in Oil Ventures
http://www.nytimes.com/2014/10/10/world/venezuela-in-a-quiet-shift-gives-foreign-partners-more-control-in-oil-ventures.html
OCT. 9, 2014
...the company has been discreetly moving to give more control to foreign oil companies that participate with it in joint ventures, according to five people familiar with recent agreements it negotiated....
In the hopes of jump-starting stagnant production through increased investment, the company has signed or is negotiating financing agreements with numerous foreign oil companies operating here. These agreements give the companies greater say over how drilling operations are run and how they buy supplies and equipment, as well as greater control over spending and profits, according to those familiar with them, some of whom asked not to be identified to preserve relations with Pdvsa....
One of the first agreements was signed with the American company Chevron in May 2013. The deal included a $2 billion loan by Chevron to Pdvsa to cover the state oil company’s portion of investment in an oil field across Lake Maracaibo from Mene Grande.
But it also included provisions sought by Chevron to guarantee that the new loan, as well as millions of dollars in unpaid dividends from past operations, would be paid promptly from oil revenues...
From what I have read from many sources the price of a bbl of oil is going to remain down thru at least 2015.
This is a big reason Venezuela, and Russia are on the economic ropes.
This is going to be an interesting and explosive year between the actions of the Muslim Fundamentalists and the economic problems of many oil producing countries worldwide. -Tom
You don’t fail to fulfil an obligation with the Chinese.
And those two in the picture probably voted for th commie, because he was going to gibdemfreestuff
the lovely fruits of socialism---get in the damn line
They’re nothing thinking. Grab a cart like that person in the background. Load it up with anything they can grab. Barter what they don’t need for what they do need.
Coming soon to an Obamanation near you.
Algeria, Iran, Nigeria and Libya are also in extreme pain at these prices.
http://graphics.wsj.com/lists/opec-meeting
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