|
Post by livinginmedellin on Apr 12, 2016 14:33:04 GMT -5
Inflation in Venezuela is projected to increase 481% this year and by a staggering 1,642% next year, according to new estimates released Tuesday by the International Monetary Fund (IMF). "Venezuela is on the precipice of hyper inflation," says Kathryn Rooney Vera, research director at BullTick Capital Markets in Miami. The IMF also forecasts that Venezuela -- which rarely publishes its own economic data -- will have an unemployment rate of 17% this year and nearly 21% next year. For some context, the last time the unemployment rate hit that high in the United States was during the Great Depression in the 1930s, when it spiked to as much as 25%. "Venezuela is experiencing a very severe economic crisis," says Francisco Rodriguez, chief Andean economist at Bank of America Merrill Lynch. "This is not a recession, this is a depression." See: money.cnn.com/2016/04/12/news/economy/venezuela-imf-economy/index.htmlThe bottom line is that Venezuela's economy is in a complete meltdown.
|
|
|
Post by barrumundi on Apr 12, 2016 15:48:31 GMT -5
Perhaps the hyper inflation is the root cause of the crime in Venezuela? How could you survive in those circumstances?
|
|
|
Post by livinginmedellin on Apr 12, 2016 16:08:21 GMT -5
And what's the cause of the hyperinflation and the economic meltdown? So many reasons, incompetency, socialism and spending too much to give away so much to the poor for almost free, plus the collapse of oil prices and total mismanagement of oil production. Venezuela has the largest oil reserves in the world, but how has Venezuela has managed it? 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. Why not? The answer is that Chávez turned the state-owned oil company from being professionally run to being barely run. People who knew what they were doing were replaced with people who were loyal to the regime, and profits came out but new investment didn't go in. That last part was particularly bad, because Venezuela's extra-heavy crude needs to be blended or refined — neither of which is cheap — before it can be sold. So Venezuela just hasn't been able to churn out as much oil as it used to without upgraded or even maintained infrastructure. Specifically, oil production fell 25 percent between 1999 and 2013 and oil prices then cratered... So what will collapse first - Venezuela's government or economy??? See more: www.washingtonpost.com/news/wonk/wp/2016/01/29/venezuela-is-on-the-brink-of-a-complete-collapse/?tid=pm_pop_b
|
|
|
Post by billyb on Apr 12, 2016 20:10:33 GMT -5
I think it goes hand in hand. If the economy collapses, i can't see the Chavistas surviving. If the gov goes first, and the army stands down and lets the opposition take over, there might be a chance to save the economy. But it won't be easy. I can see the US giving massive aid to yank it out of China's orbit, in that event.
|
|
|
Post by gallito on Apr 12, 2016 20:22:54 GMT -5
I doubt the US would climb on board anytime soon;possibly when maburro steps aside and the country rebuilds.
|
|
|
Post by tubes on Apr 12, 2016 20:45:06 GMT -5
Several countries have had hyperinflation in the past, but usually as a result of mismanagement after periods of war, worsened by printing more money. (Germany reached 29,525% in 1923!) Whatever happens, Venezuela will take a long time to recover now that it has lost much of its industrial production.
Their high criminality is very similar to the problems in Mexico, where the police and the military are poorly trained and underpaid.
|
|
|
Post by billyb on Apr 12, 2016 21:18:11 GMT -5
There is absoulutely no difference between police and criminals in Mexico.
|
|
|
Post by barrumundi on Apr 13, 2016 8:49:45 GMT -5
There is absoulutely no difference between police and criminals in Mexico. WRONG! The police have uniforms.
|
|
|
Post by barrumundi on Apr 13, 2016 8:52:21 GMT -5
Actually ...on second thoughts that previous statement may not be correct.
I seem to recall that the two Aussie surfers that were killed recently were supposedly pulled over by people in police uniforms.
|
|
flaco
New Member
Posts: 24
|
Post by flaco on Apr 15, 2016 7:14:33 GMT -5
Venezuela CNE Delays Presidential Recall ... Again
By Carlos Camacho
CARACAS -- Venezuela's electoral body, the CNE, denied again Thursday a petition to initiate a recall process against President Nicolas Maduro, closing the main democratic way out of the present Venezuelan crisis, according to the opposition.
While not approving the form that the opposition used, the CNE promised to analyze the opposition's petition carefully but without saying when will it announce a decision.
The opposition took the new delay hard.
“Agents of the PSUV (Maduro’s political party, founded by late President Hugo Chavez) inside the CNE attack the peace of the Republic,” said the opposition umbrella organization MUD in a press statement. MUD points out that the CNE has been dragging its feet for a month now.
This is the fourth time that the CNE has frustrated the Opposition's efforts to exercise its right to a recall referendum.
Maduro´s six year term ends in 2019.
If he is recalled this year, new Presidential elections are to be held within 30 days, according to the Constitution.
But if the recall takes place in 2017 or later, no elections will be held, with Vice President Aristobulo Isturiz, a founding member of the PSUV, instead serving the remainder of Maduro´s period.
"CNE keeps blocking the recall referendum," tweeted Henry Ramos Allup, the President of the legislative National Assembly, where the opposition holds a super-majority. The CNE "denies us the form to collect signatures and accuses us of subversion if we insist."
In a three to one vote, the CNE directors decided not to give the opposition a pre-approved form to collect the signatures needed to launch a vote to revoke Maduro´s rule.
Sandra Oblitas, Socorro Hernandez and Tania D'Amelio voted not to approve the form that requires 1% of voter signatures to request the recall referendum. All -- including CNE President Tibisay Lucena -- were appointed by the previously Government dominated National Assembly.
The CNE director who voted in favor of the recall, Luis Emilio Rondon, criticized the decision, saying the opposition´s patience is wearing thin and that, in essence, the CNE had become an obstacle against the free will of the people.
"This is the fourth time the opposition approaches the CNE about the recall," Rondon said during a television interview. “The electoral administration should not become an obstacle in accomplishing the political rights of any citizen.”
Rondon later tweeted that the review of the recall´s petition could have been done in one day, today “in order to provide the solicitors with a timely answer.”
The CNE´s announcement seemed to discourage and even divide the opposition.
Opposition lawmaker Delsa Solorzano said the National Assembly should sack the CNE directors, while legislator Alfonso Marquina said that signatures should be collected anyway, starting this weekend, even in a non CNE sanctioned form.
Signatures collected in a form not approved by the electoral authority can be rejected, according to the electoral law.
|
|
flaco
New Member
Posts: 24
|
Post by flaco on Apr 15, 2016 7:17:57 GMT -5
There is absoulutely no difference between police and criminals in Mexico. For a better understanding of what billyb is saying, pickup a copy of Narcoland, by Anabel Hernandez
|
|