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Venezuela 'Nearing Collapse'

Edit: Sorry, wrong thread
(edited 6 years ago)

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Reply 1
What happened to all the oil?
But they are Socialist! How is this possible?!
that's socialism
I feel really bad for all the troubled societies in Latin America. They share the values that decent, humane cultures have, but sadly all the corruption that dogs them leads to all the poverty, the class division, and thus the violence, that has pained them for so long. We rarely hear about them on the news, and yet I feel a much greater connection with them than the religio-fascist societies that take up so much of the space for news from countries outside of the West.
Reply 5
Original post by The_Opinion
But they are Socialist! How is this possible?!


Sarcastic not.
Reply 6
Original post by Mathemagicien
A top International Monetary Fund economist says Venezuela could reach “total economic collapse” in 12-18 months

A recent IMF report predicts that Venezuela will reach a 720 percent inflation rate this year - the highest in the world. Robert K. Rennhack, deputy director of the IMF’s Western Hemisphere department, stated in an interview that Venezuela is on a path to hyperinflation, and could reach a “total collapse of the economic system” in 12 to 18 months if there are no changes in economic policies.

“Inflation in Venezuela probably entered a hyperinflationary path in 2015,” Rennhack says. He expects Venezuela’s inflation to reach 2.200 percent in 2017, and could balloon very fast to 13,000 a year, the stage that most academics define as full-blown hyper-inflation.

No Latin American government in recent memory has been able to survive a hyper-inflationary crisis. When you reach five-digit inflation rates, governments either make a dramatic political u-turn, or they fall.

Asked how he reached his 12-18 month projection for hyper-inflation in Venezuela, Rennhack said his team of economists looked at previous episodes of hyper-inflation in Bolivia (1982-1984) Argentina (1989-1990) and Brazil (1989-1990). They concluded that Venezuela is on a similar path as these countries were between 12 and 18 months before their hyper-inflationary crises.

Many Venezuelans believe the country will explode much sooner than in 12 to 18 months. Prices go up daily, supermarket shelves are near empty, there are growing electricity shortages, El nino has caused serious water shortages, hydroelectric power supply has gone into the decline, leading to huge power cuts, and government offices being run for only 3 days a week to save power, while the working week has been reduced to 4 days. Crime statistics are skyrocketing.

Since Maduro took office after a dubious election in 2013, the economy has collapsed from a 5 percent growth rate that year to an 8 percent contraction in 2016. Most importantly, poverty has ballooned from 23 percent to 73 percent of Venezuelan households over the same period, according to a joint study by the University Andres Bello, the Central University of Venezuela and the Simon Bolivar University.

Venezuela’s petro-diplomacy has lost its clout in the region with the collapse of oil prices, and Latin America’s political map is changing fast, moving away from Venezuela’s corruption-ridden socialist model. A collective regional move under the OAS Democratic Charter to demand a constitutional solution to the Venezuelan crisis would be much better than a military coup, which no matter which side it comes from would mark a return to the dark ages of Latin America’s military regimes.

http://www.miamiherald.com/news/local/news-columns-blogs/andres-oppenheimer/article73657547.html


Is there going to be another deep recession across the world soon?
Reply 7
So, Socialism doesn't work? We need more research about this. :holmes:
Socialism strikes again..............
i expect the Chinese are ogling this tasty morsel... they can snap up the future oil production at a bargain price with $billions of loans to the Govt...
Original post by The_Opinion
But they are Socialist! How is this possible?!


Original post by richpanda
that's socialism


Original post by Josb
So, Socialism doesn't work? We need more research about this. :holmes:


Original post by KimKallstrom
Socialism strikes again..............


Original post by JohnGreek
"muh equality"

Yes, you can be equal in poverty, you socialist plebs


Socialism gave us the minimum wage. the NHS, 2 days off a week, maternity leave, ...

So yes, socialism works
Original post by Multiculturalism
Socialism gave us the minimum wage. the NHS, 2 days off a week, maternity leave, ...

So yes, socialism works


So you pick out a few isolated aspects of Socialism and say it works, even though they are being operated in Capitalist societies.

Strange logic.
Original post by Multiculturalism
Socialism gave us the minimum wage. the NHS, 2 days off a week, maternity leave, ...

So yes, socialism works


Tony Blair gave the UK the minimum wage, and he's hardly Friedrich Engels.

Socialist policies work within a capitalist system.
They need the white man
Original post by TheTruthSaves
They need the white man


Please do explain.

I'm looking forward to this.
Reply 15
Original post by M14B
What happened to all the oil?


Prise of crude oil has fallen from 120 dollar per barrel a year ago to 40 dollars now. Since Venezueals economy was all about oil it is logic they have less profits and caused an economic crisis.

Venezuela should have diversified its economy before this happened.
Original post by BenC1997
Please do explain.

I'm looking forward to this.


Because they can build better housing than mudhuts
Original post by TheTruthSaves
Because they can build better housing than mudhuts


I'm afraid I shall need more solid evidence than that to convince me, come on, try again.

Unfortunately for you I have reason to believe that non white populations have created abodes of slightly higher quality than the humble mud-hut.

How, for example, do you explain any economic crisis to hit any white country?
Original post by BenC1997
I'm afraid I shall need more solid evidence than that to convince me, come on, try again.

Unfortunately for you I have reason to believe that non white populations have created abodes of slightly higher quality than the humble mud-hut.

How, for example, do you explain any economic crisis to hit any white country?


Immigrants sucking the life out our economies
Original post by TheTruthSaves
Immigrants sucking the life out our economies


Ah yes, that being despite the fact EU migrants are net contributers to our economy and non-EU immigrants make up the back bone of the NHS, whilst increasing the size of our labour force.

Let's have a look at a country that wasn't particularly fond of immigration... the Soviet Union.

Wouldn't you know it, their economy brought the entire country to destruction, and in fact entered a period of stagnation for almost the entirety of Brezhnev's rule

Now let's compare that to a country built on immigration, the USA...indeed, as suspected, their economy is still fairly strong.

Go on, try again.

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