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Something is rotten in Venezuela

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Postby coach on 01 Jul 2016 14:28

Re: Something is rotten in Venezuela

JMT wrote:To paraphrase Milton Friedman, feel free to point out the benevolent angels who can organize that society for us.

Exactly. My point being that just because someone CALLS themself a communist or a socialist or a capitalist does not mean they are.
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Postby coach on 01 Jul 2016 14:31

Re: Something is rotten in Venezuela

TechJunkie wrote:
Our mayor recently noted that stray dogs had all but disappeared from our neighborhood, and people are hunting pigeons in the main square.

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There is nothing for people to eat because of two specific socialist policies, not because Maduro and his friends ate all of the food.

1. The socialists want the people to be able to afford things, so they simply declare that the value of their currency is high. While expanding the money supply to pay for social programs.

2. The socialists want the people to be able to afford things, so they simply declare that the prices of things must be low.

Problem solved, right? It's kind of like a minimum wage hike: you want poor people to be able to eat, so you simply mandate that they should be paid more.

But policy #1 and policy #2 conflict with one another. Policy #1 of expanding the money supply causes the local currency to lose value. Importers have to spend more local currency to import food. Then importers have to charge their customers more in local currency.

But they can't do that because of policy #2. The prices are mandated by the benevolent socialist state, so that people can afford to buy things. Importers who charge market prices are accused of price gouging. Their businesses are expropriated by the state and sometimes they're arrested.

If you're an importer and you know that you have to spend more to buy food than you could sell it for after you import it, then why would you import the food in the first place?

That's why people are eating dogs and rats in Venezuela. Not because Maduro and his Chavismo friends ate all of the food. The problem the socialist policies that eliminated the financial incentives that keep an economy moving. It's not possible to steal enough money through corruption to wreck an entire country's economy on the level of Venezuela's.

Okay, so this makes it clear that you are simply denying the corruption. I mean, maybe you do understand that there is some corruption, but you are denying the depth of the impact of that corruption.
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Postby TechJunkie on 01 Jul 2016 14:34

Re: Something is rotten in Venezuela

There is corruption in the US also but we have enough food to eat. And I don't see how Maduro and his cronies could have stolen all of the food for themselves. So obviously broader economic policies have something to do with it.

Even the Bolivarian Revolution's official news outlet pins the ultimate blame for the shortages on the tiered exchange system:

teleSUR wrote:In order to keep prices for essential goods at an affordable level, the government implemented an exchange rate system that effectively subsidized the provision of dollars for imports of key goods.

A private business would request cheap dollars from the Venezuelan Central Bank with the stated aim of using them to import food or raw material for food production. The Central Bank would provide the dollars at the preferential rate reserved for essential goods of 6.3 Bolivars to one U.S. dollar.

These private business would then lie about what was imported or produced in order to allegedly stash dollars away in offshore accounts or sell the goods at the illegal black-market rate of approximately 500 bolivars to one U.S. dollar.

The Venezuelan government claims that in some cases, business that were given dollars never imported anything at all, hoarding the cash instead.

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Postby TechJunkie on 06 Feb 2017 13:27

Re: Something is rotten in Venezuela

TechJunkie wrote:A month and a half ago, one US dollar was worth 300 Venezuelan Bolivars. Today it's worth 500 Bolivars. Sucks if you get paid in Bolivars, since they import nearly everything.[

Mon Jul 06, 2015 6:56 am


Screen Shot 2017-02-06 at 12.23.08 PM.png


Over a thousand percent inflation in a year and a half!
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Postby JMT on 06 Feb 2017 15:12

Re: Something is rotten in Venezuela

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Postby Wayne S. Noches on 10 Feb 2017 16:35

Re: Something is rotten in Venezuela

Venezuelans killing flamingos and anteaters to stave off hunger amid mounting food crisis

Venezuela’s food crisis has gotten so bad that people are apparently killing pink flamingos and other protected animals in order to stave off hunger.

While flamingo hunting is both illegal and uncommon in the South American nation, investigators from Zulia University in the northwestern Venezuelan city of Maracaibo have noted at least 20 cases of bird carcasses being discovered with their breasts and torsos removed.

And flamingos aren’t the only unusual animal to become a victim of Venezuela’s worsening food crisis. Remains of everything from dogs and cats to donkeys and even giant anteaters have been found in garbage bags at city dumps around the country.
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Postby TechJunkie on 22 Feb 2017 11:35

Re: Something is rotten in Venezuela

Venezuela’s economic crisis is so dire that most people have lost an average of 19 pounds
About a third of the country is skipping meals to get by.

Venezuela’s multi-year economic crisis produces grim stories of scarcity and suffering month after month. Still, new data capturing the woes of the once well-heeled South American nation is shocking: According to new results from an annual national survey, nearly three-quarters of respondents reported losing an average of 19 pounds between 2015 and 2016.

That’s one of a number of astonishing findings from the country’s National Survey of Living Condition, which is conducted by three major Venezuelan universities and other research groups. The survey also found that the portion of respondents who said they ate two or fewer meals increased threefold, climbing from 11.3 percent in 2015 to 32.5 percent in the past year — around 9.6 million people in a country of roughly 30 million are eating at this rate.

Venezuela has been unable to pull out of an economic tailspin that began in 2014, after oil prices around the world plunged. Combined with the government’s shortsighted fiscal policy and overreliance on imports that it can’t afford to keep up, the economy has ground to a halt.

Inflation is skyrocketing — the International Monetary Fund estimates that the country’s inflation is expected to rise 1,660 percent this year and 2,880 percent next year. Shortages of food, medicine, and many basic items abound in what was once the richest country in South America per capita in the 20th century. Malaria is ravaging a country that was the first in the world to eliminate the disease in its populated areas.

Now there’s evidence that the economic chaos is translating into a malnutrition crisis, with people increasingly struggling to secure food as they wait desperately for the economy to recover.

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Postby JMT on 25 Mar 2017 22:22

Re: Something is rotten in Venezuela

TechJunkie wrote:Are you going to post Pepe The Frog next?


Venezuelans Using Bitcoin and Pepe The Frog to Fight Dismal Economy

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Postby JMT on 23 Apr 2017 19:37

Re: Something is rotten in Venezuela

Yes, this was an actual headline.

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Postby pod on 24 Apr 2017 13:40

Re: Something is rotten in Venezuela

Taking cues from ITAR-TASS.
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