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Venezuela Declares an Economic Emergency and Releases Data Showing How Bad It Is

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  • Venezuela Declares an Economic Emergency and Releases Data Showing How Bad It Is

    Venezuela's socialist government decreed an "economic emergency" on Friday and published the first data in a year showing the depth of a recession fueled by low oil prices and a sputtering state-led model.

    The government's decree, which the opposition-led congress says it has the power to approve or reject, sets a 60-day "economic emergency" and would give President Nicolás Maduro wider powers to intervene in companies or limit access to currency.

    The central bank, which has been lambasted by critics of the government for hiding statistics since the end of 2014, said the South American OPEC nation's economy shrank 4.5 percent in the first nine months of last year.

    Inflation soared in that period to an annual rate of 141.5 percent: the world's worst.
    Vice - Full Article

    Sounds like another power play by the President against the opposition assembly.

  • #2
    They just raised gasoline prices about 6000% from $ .08 a gallon to $2.85 a gallon...

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    • #3
      Originally posted by T. A. Gardner View Post
      They just raised gasoline prices about 6000% from $ .08 a gallon to $2.85 a gallon...
      Damn commies with their subsidized oil prices. 8 cents a gallon for gas but where is the toilet paper?
      Flag: USA / Location: West Coast

      Prayers.

      BoRG

      http://img204.imageshack.us/img204/8757/snap1ws8.jpg

      https://www.youtube.com/watch?v=5PtsX_Z3CMU

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      • #4
        Originally posted by Salinator View Post
        Damn commies with their subsidized oil prices. 8 cents a gallon for gas but where is the toilet paper?
        That's okay... Since the government is now rationing food too people won't need as much toilet paper...

        Oh, and buying food now requires you submit to fingerprinting and ID checks along with your phone number and address taken...

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        • #5
          Originally posted by Daemon of Decay View Post
          Vice - Full Article

          Sounds like another power play by the President against the opposition assembly.
          An economic emergency that Venezuela brought onto itself; virtually everyone in that country drank the kool aid that Chavez served up, and when that deplorable man died they doubled down on the stupid by putting a former, poorly educated bus driver in his place who served up more of the same kool aid. It looks like their chickens came home to roost!
          Give me a fast ship and the wind at my back for I intend to sail in harms way! (John Paul Jones)

          Initiated Chief Petty Officer
          Hard core! Old School! Deal with it!

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          • #6
            Well, Venezuela did boast the world's tallest slum... Until the government evicted everyone and gave the building to the Chinese...




            http://foreignpolicy.com/2014/07/31/...igh-rise-slum/

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            • #7
              So how long do you think it'll be until they start asking for aid from the evil imperialist capitalists to bail them out?
              "Artillery lends dignity to what might otherwise be a vulgar brawl." - Frederick the Great

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              • #8
                Originally posted by frisco17 View Post
                So how long do you think it'll be until they start asking for aid from the evil imperialist capitalists to bail them out?
                Considering the increasing power of the opposition, they may help themselves soon enough.

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                • #9
                  Originally posted by Daemon of Decay View Post
                  Considering the increasing power of the opposition, they may help themselves soon enough.
                  The latest elections saw the Chavenista's getting slammed and the opposition now in near control of the legislature. With things continuing to go south I doubt the Socialists will hold power much longer in any case.

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                  • #10
                    Originally posted by T. A. Gardner View Post
                    The latest elections saw the Chavenista's getting slammed and the opposition now in near control of the legislature. With things continuing to go south I doubt the Socialists will hold power much longer in any case.
                    They're fighting back, though. They're trying to get some opposition kicked out, which would remove the opposition's majority.

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                    • #11
                      Originally posted by Daemon of Decay View Post
                      They're fighting back, though. They're trying to get some opposition kicked out, which would remove the opposition's majority.
                      Yea I know, and Maduro is likely trying to seize control with "emergency" powers to gain complete control over the government again too...

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                      • #12
                        Not just the economy that is wrecked

                        Recent BBC report

                        Venezuela is a country of superlatives. Many of them, alas, are not particularly desirable: the world's largest proven oil reserves; the world's highest rate of inflation; the world's worst performing economy etc.
                        The South American country now has another "title" to add to that list: that of the world's most murderous nation.
                        A recent report by the Venezuelan Observatory on Violence (OVV) calculated that the 2015 murder rate was a shocking 90 per 100,000 residents, a figure considerably higher than other "hotspots" for violence like Colombia and Mexico, and 20 times the homicide rate in the United States.
                        "The cause of the violence in Venezuela is the breakdown in the social pact," says Professor Roberto Briceno Leon, director of the OVV.
                        "The idea of the social relationship, regulated by law, has been destroyed by the government, for political reasons. In their revolution, everything has to be changed," he somewhat grimly concludes.
                        Human history becomes more and more a race between education and catastrophe (H G Wells)
                        Mit der Dummheit kaempfen Goetter selbst vergebens (Friedrich von Schiller)

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                        • #13
                          Originally posted by frisco17 View Post
                          So how long do you think it'll be until they start asking for aid from the evil imperialist capitalists to bail them out?
                          I hope we don't send them one damn dollar. They have hated us for a while now. Let them hate us for free.

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