This is what a Hyper-inflated economic collapse looks like!
May 25, 2015 21:18:35 GMT -6
727sky, dirkgently, and 5 more like this
Post by Deleted on May 25, 2015 21:18:35 GMT -6
It happens a bit slowly, but the patterns as well as the causes are so consistent for the big picture thinking, I consider it a wonder of the world that we have leaders unable to grasp it for the simplicity it really is, once fail has reached THIS level.
I guess this would be a bad week to see the sights and enjoy the localhospitality hostility of Venezuela, eh?
Chavez needed driven from power, and in the end? The job required no less a fixer than the Grim Reaper himself. This goober isn't Chavez, and as he overseas the modern reincarnation of the Weimar Republic, he'd probably do well to watch his back. Idiocy isn't well tolerated in South America, unless it comes with respect...strength..or both. This one seems weak in all of the above, by what I've seen.
Source
Well, I do hope they enjoyed having an economy. They used to have a very strong one, and one could almost say robust. I recall being concerned about Venezuela managing high tech for a Missile base on their North Shore. Now it sounds like they'd be doing well just to get concrete out in quantity to build the infrastructure. (sigh) A sad thing to see, really. So unnecessary...but also, one of several in the same sinking boat of bankrupt ideas.
Source: Frustration with Latin America's left on the rise
That is the problem with "firebrands" and revolutionaries. They may fight like devils at times, and be a pain in the ass that God himself couldn't ignore...but often enough, they couldn't run a lemonade stand at a profit to stay running from one day into the next. All brawn...and no brains.
Not generally a problem in a Democratic nation, because even in 'out of power' years, either side still exists to offer their opinions...unwanted or not. Things balance a bit. Dictatorships like Venezuela just shoot anything more ambitious or intelligent than whoever is in power at the time, kinda making for an obvious long term problem. They (dictators) just seem to think short term tho, so no problems for them....unless it all falls apart.
It's still possible to buy a gleaming Ford truck in Venezuela, rent a chic apartment in Caracas, and snag an American Airlines flight to Miami. Just not in the country's official currency.
As the South American nation spirals into economic chaos, an increasing number of products are not only figuratively out of the reach of average consumers, but literally cannot be purchased in Venezuelan bolivars, which fell into a tailspin on the black market last week.
As the South American nation spirals into economic chaos, an increasing number of products are not only figuratively out of the reach of average consumers, but literally cannot be purchased in Venezuelan bolivars, which fell into a tailspin on the black market last week.
I guess this would be a bad week to see the sights and enjoy the local
Driving the shift is the crumbling value of the bolivar, which has lost more than half its value this year, plunging to 400 per dollar on the free market as Venezuelans scramble to convert their savings into a more stable currency. Desperate, people are selling bolivars for a rate 60 times weaker than the strongest of country's three official exchange rates.
It's a politically uncomfortable situation for President Nicolas Maduro, who regularly leads chants of "gringo go home" and says currency speculation is one of the main tools used by enemies to try to sow chaos and force him from power.
It's a politically uncomfortable situation for President Nicolas Maduro, who regularly leads chants of "gringo go home" and says currency speculation is one of the main tools used by enemies to try to sow chaos and force him from power.
Chavez needed driven from power, and in the end? The job required no less a fixer than the Grim Reaper himself. This goober isn't Chavez, and as he overseas the modern reincarnation of the Weimar Republic, he'd probably do well to watch his back. Idiocy isn't well tolerated in South America, unless it comes with respect...strength..or both. This one seems weak in all of the above, by what I've seen.
Meanwhile, inflation is racing so fast that ATMs have failed to keep pace. Many deliver a maximum of just $1.50 worth of bolivars per transaction. Some shoppers stay away from cash altogether, according to reports in local media, leaning more heavily on credit cards so they can pay for purchases later, when they'll cost less in dollar terms thanks to inflation.
Well, I do hope they enjoyed having an economy. They used to have a very strong one, and one could almost say robust. I recall being concerned about Venezuela managing high tech for a Missile base on their North Shore. Now it sounds like they'd be doing well just to get concrete out in quantity to build the infrastructure. (sigh) A sad thing to see, really. So unnecessary...but also, one of several in the same sinking boat of bankrupt ideas.
Venezuela's socialist government is struggling to put food on the shelves amid runaway inflation. Brazil's president is facing calls for impeachment. And even Cuba's communist government, an iconic touchstone for generations of leftists, is embracing closer ties with the U.S.
Whether it's because of corruption scandals or stagnant growth, the popularity of the crop of leftist Latin American governments that have been running the region since the start of the millennium appears to be waning. Voters who embraced what became known as the pink tide that swept away the pro-Washington, free-market policies dominant in the 1990s are increasingly turning against the populist firebrands they once rallied behind.
Whether it's because of corruption scandals or stagnant growth, the popularity of the crop of leftist Latin American governments that have been running the region since the start of the millennium appears to be waning. Voters who embraced what became known as the pink tide that swept away the pro-Washington, free-market policies dominant in the 1990s are increasingly turning against the populist firebrands they once rallied behind.
That is the problem with "firebrands" and revolutionaries. They may fight like devils at times, and be a pain in the ass that God himself couldn't ignore...but often enough, they couldn't run a lemonade stand at a profit to stay running from one day into the next. All brawn...and no brains.
Not generally a problem in a Democratic nation, because even in 'out of power' years, either side still exists to offer their opinions...unwanted or not. Things balance a bit. Dictatorships like Venezuela just shoot anything more ambitious or intelligent than whoever is in power at the time, kinda making for an obvious long term problem. They (dictators) just seem to think short term tho, so no problems for them....unless it all falls apart.