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Venezuela is on the brink of a complete economic collapse
WaPo ^ | 01-29-2016 | Matt O'Brien

Posted on 01/29/2016 5:48:57 PM PST by NRx

The only question now is whether Venezuela's government or economy will completely collapse first.

The key word there is "completely." Both are well into their death throes. Indeed, Venezuela's ruling party just lost congressional elections that gave the opposition a veto-proof majority, and it's hard to see that getting any better for them any time soon — or ever. Incumbents, after all, don't tend to do too well when, according to the International Monetary Fund, their economy shrinks 10 percent one year, an additional 6 percent the next, and inflation explodes to 720 percent. It's no wonder, then, that markets expect Venezuela to default on its debt in the very near future. The country is basically bankrupt.

That's not an easy thing to do when you have the largest oil reserves in the world, but Venezuela has managed it. How? Well, a combination of bad luck and worse policies. The first step was when Hugo Chávez's socialist government started spending more money on the poor, with everything from two-cent gasoline to free housing. Now, there's nothing wrong with that — in fact, it's a good idea in general — but only as long as you actually, well, have the money to spend. And by 2005 or so, Venezuela didn't.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; Cuba; Foreign Affairs; Front Page News; Russia
KEYWORDS: collapse; communism; cuba; nicaragua; nicolasmaduro; russia; socialism; venezuela
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Please help make FR's voice louder.


Truth, Justice, and the American Way.

click the bottom graphic and support them

41 posted on 01/29/2016 8:10:34 PM PST by DoughtyOne (Free Republic Caucus: vote daily / watch for the thread / Starts 01/20 midnight to midnight EST)
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To: NRx

“Here’s your sign” bump for later reference.


42 posted on 01/29/2016 9:14:02 PM PST by GBA (Here in the matrix, life is but a dream.)
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To: NRx

Just raise taxes on the rich and nationalize more industries.........


43 posted on 01/29/2016 9:34:22 PM PST by Organic Panic
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To: Autonomous User

The Bern =)


44 posted on 01/29/2016 9:46:23 PM PST by Patriot Babe
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To: WildHighlander57

Bernie, Socialism? He’s a Communist!


45 posted on 01/29/2016 9:53:53 PM PST by TruthWillWin (The problem with socialism is that you eventually run out of other peoples money.)
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To: SaveFerris
Ever since I saw that photo (of wretched, starving people being electronically scanned in order to purchase meager food supplies) some months ago, I am convinced we are very close to the end. The mark of the beast has never loomed more likely and more possible than it does right now. Never before in human history have we been on this threshold.


46 posted on 01/30/2016 4:07:58 AM PST by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: Extremely Extreme Extremist

Venezuela = Cuba with oil.


47 posted on 01/30/2016 5:27:02 AM PST by elcid1970 ("The Second Amendment is more important than Islam.")
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To: NRx

48 posted on 01/30/2016 5:35:33 AM PST by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: NRx

No surprise here-The inevitable end result of Socialism.


49 posted on 01/30/2016 5:39:41 AM PST by Pajamajan ( Pray for our nation. Thank the Lord for everything you have. Don't wait. Do it today.)
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To: Lil Flower
So I guess now we’ll be taking in Venezuelan refugees.

The first wave of Cuban refugees from communism brought us a lot of productive members of society. Cuban refugees weren't a problem until Fidel emptied his prisons and Jimmy Carter took the bait.

So we might actually be able to skim the cream. Although with Barry and JFK in charge, there is a lot that could go wrong.

50 posted on 01/30/2016 5:54:38 AM PST by PAR35
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To: NRx
Now, there's nothing wrong with that; in fact, it's a good idea in general, but only as long as you actually, well, have the money to spend. And by 2005 or so, Venezuela didn't.

So it's good until you run out of other people's money? Fascio-Socialists are idiots. And that universally applies regardless of whether you are running Venezuela into the ground or writing for the Washington Post.

51 posted on 01/30/2016 8:33:03 AM PST by Hoodat (Article 4, Section 4)
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To: SkyPilot

Seems as though the Tribulation period and the Great Tribulation may not be too far off.

All the talk of dividing Israel for ‘peace and security’, the fact that the MoTB could be done rather easily and we can see Ezekiel 38 looming large on the horizon for sure.

Just wow. But, it was prophesied by the Lord and His prophets. So we know it will come to pass exactly as written.


52 posted on 01/30/2016 3:42:32 PM PST by SaveFerris (Be a blessing to a stranger today for some have entertained angels unaware)
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To: sarasmom

I was in Orlando in Oct.’13. It seemed very, ethnic.


53 posted on 01/31/2016 4:14:31 PM PST by Lil Flower (American by birth. Southern by the Grace of God. ROLL TIDE!!)
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To: PAR35

The cream is already here, it’s called out of work Americans. I understand your point, and I wish we could help and take in everyone who is trying to flee oppression and would love the chance to come and live and WORK in America. But we just can’t. Charity starts at home.


54 posted on 01/31/2016 4:18:46 PM PST by Lil Flower (American by birth. Southern by the Grace of God. ROLL TIDE!!)
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To: deweyfrank
Yep...are you watching Bernie? Better yet, are Bernie’s followers watching? The answer is probably NO!

They'll just say that the US and the CIA sabotaged the Venezuelan economy.


Being a Communist means never admitting that you're wrong.

55 posted on 01/31/2016 4:20:17 PM PST by dfwgator
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To: stocksthatgoup

Don’t forget Danny Glover .


56 posted on 01/31/2016 4:41:53 PM PST by katykelly
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To: deweyfrank

it’s down there ....... why should they give a damn


57 posted on 01/31/2016 4:52:03 PM PST by Thibodeaux (leading from behind is following)
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To: SkyPilot

Ever since I saw that photo (of wretched, starving people being electronically scanned in order to purchase meager food supplies) some months ago, I am convinced we are very close to the end. The mark of the beast has never loomed more likely and more possible than it does right now. Never before in human history have we been on this threshold.


I had no idea they were do that in Venezuela..Do you have any information on what type of identification program this is...Creepy!! And you are probably right...


58 posted on 01/31/2016 6:05:40 PM PST by Freedom56v2
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To: Lil Flower

The cream is already here, it’s called out of work Americans. I understand your point, and I wish we could help and take in everyone who is trying to flee oppression and would love the chance to come and live and WORK in America. But we just can’t. Charity starts at home.


Well said! (P.S. I like your tagline)


59 posted on 01/31/2016 6:08:15 PM PST by Freedom56v2
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To: Lil Flower

or it’s wealth and it is in Miami banks and brokerage houses


60 posted on 01/31/2016 6:10:37 PM PST by Thibodeaux (leading from behind is following)
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