Venezuela Meltdown

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shuize
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Re: Venezuela Meltdown

Post by shuize » Fri Sep 07, 2018 2:37 am

Giz wrote:
Fri Sep 07, 2018 2:16 am
Think that whole area has been in relative decline for a while.
Ha. Ha. If I meet a Venezuelan anytime soon, I'll be sure to tell him that.

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Re: Venezuela Meltdown

Post by Skeeve » Fri Sep 07, 2018 8:21 am

A couple of notes,
1 War helped make the Syrian migration crisis, Venezuelan's was pretty much made "in house."
2 The welfare in much of the EU (think Sweden, Germany) seems to be much better than ours,,,

Also the irony I hinted at,
Why is it the EU seems to be much more accepting of migrants than the local Islamic countries, much closer to places like Syria, Afghanistan, and South Sudan?
Then Skank Of America could start in...

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Re: Venezuela Meltdown

Post by Anaxagoras » Fri Sep 07, 2018 8:44 am

Giz wrote:
Thu Sep 06, 2018 10:09 pm
Huh, live and learn.

Central America is damn small then, no?
Indeed it is. Well, It depends what you compare it to. Central America is about 2.4 times the size of Great Britain. It's also larger than Japan (all the islands). But the total population is about 46 million, which is less than Great Britain, so actually it is somewhat sparsely populated. A bit less than 1/3rd as densely populated as Great Britain.

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Re: Venezuela Meltdown

Post by Abdul Alhazred » Fri Sep 07, 2018 1:50 pm

And except for a bit of southern Panama, part of North America.
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Re: Venezuela Meltdown

Post by ed » Fri Sep 07, 2018 1:58 pm

Anaxagoras wrote:
Fri Sep 07, 2018 8:44 am
Giz wrote:
Thu Sep 06, 2018 10:09 pm
Huh, live and learn.

Central America is damn small then, no?
Indeed it is. Well, It depends what you compare it to. Central America is about 2.4 times the size of Great Britain. It's also larger than Japan (all the islands). But the total population is about 46 million, which is less than Great Britain, so actually it is somewhat sparsely populated. A bit less than 1/3rd as densely populated as Great Britain.

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Looks like a sphincter emptying into South America
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Re: Venezuela Meltdown

Post by Grammatron » Fri Sep 07, 2018 6:40 pm

Anaxagoras wrote:
Fri Sep 07, 2018 8:44 am

Indeed it is. Well, It depends what you compare it to. Central America is about 2.4 times the size of Great Britain. It's also larger than Japan (all the islands). But the total population is about 46 million, which is less than Great Britain, so actually it is somewhat sparsely populated. A bit less than 1/3rd as densely populated as Great Britain.

Image
I wonder why the population does not grow...

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Re: Venezuela Meltdown

Post by WildCat » Fri Sep 07, 2018 8:26 pm

ed wrote:
Fri Sep 07, 2018 1:58 pm
Looks like a sphincter emptying into South America
Central America is the penis by which North America fucks South America.
Do you have questions about God?

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Re: Venezuela Meltdown

Post by shuize » Fri Sep 07, 2018 11:15 pm

WildCat wrote:
Fri Sep 07, 2018 8:26 pm
ed wrote:
Fri Sep 07, 2018 1:58 pm
Looks like a sphincter emptying into South America
Central America is the penis by which North America fucks South America.

I thought Florida was the penis by which the United States pissed on Cuba.

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Re: Venezuela Meltdown

Post by Grammatron » Fri Sep 07, 2018 11:19 pm

USA has many penises...or something

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Re: Venezuela Meltdown

Post by Witness » Fri Sep 07, 2018 11:36 pm

Ireland protests at Venezuela’s seizure of Smurfit Kappa mill

The Venezuelan authorities took control of Smurfit Kappa’s plant last month after a state agency charged the company with price speculation and destabilising the economy. The government also detained two Smurfit managers.
http://todayvenezuela.com/2018/09/03/ir ... appa-mill/

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Re: Venezuela Meltdown

Post by shuize » Fri Sep 07, 2018 11:51 pm

Witness wrote:
Fri Sep 07, 2018 11:36 pm
Ireland protests at Venezuela’s seizure of Smurfit Kappa mill

The Venezuelan authorities took control of Smurfit Kappa’s plant last month after a state agency charged the company with price speculation and destabilising the economy. The government also detained two Smurfit managers.
http://todayvenezuela.com/2018/09/03/ir ... appa-mill/
I can almost follow the government's thinking here:

"Hyperinflation is caused by runaway printing.

We must destroy the paper companies!"
Last edited by shuize on Sat Sep 08, 2018 12:03 am, edited 1 time in total.

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Re: Venezuela Meltdown

Post by Skeeve » Fri Sep 07, 2018 11:54 pm

Venezuelan bonds are a fabulous investment, if you don’t mind the starvation
YOU WOULDN’T deliberately snatch food and medicine away from malnourished people. Nor, I’m sure, would you hire somebody else with explicit instructions to deprive suffering families of their basic needs.

But what about pumping money into a ruthless government that does those things? Would you buy bonds from a nasty regime if you knew that it would get the money to repay you by cutting back on the necessities of its already desperate people, and thereby cause even more starvation and misery?

Don’t be too quick to say no. Lots of investors display no objection to propping up repressive governments by buying their debt. If you’ve put money into an emerging-market fund, chances are you’re one of them.
As long as you don't mind the chance of Nationalization....no problems... Right Ireland?
Then Skank Of America could start in...

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Re: Venezuela Meltdown

Post by shuize » Sat Sep 08, 2018 11:34 pm

Just watched a video on YouTube which included a former U.S. Ambassador to Venezuela. He said their oil production is now at the same level it was in 1947.

The video is a bit long. His statement is around the 6:45 mark.


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Re: Venezuela Meltdown

Post by shuize » Fri Sep 14, 2018 1:30 pm

Skyrocketing prices have ruined Venezuela’s economy with many people unable to afford even basic necessities — unless you are part of tight circle of politically connected elites with access to a government-controlled currency exchange that one financial expert in Miami summed up as a “perpetual money machine for insider criminals.”

https://www.miamiherald.com/news/local/ ... rylink=cpy

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Re: Venezuela Meltdown

Post by Witness » Fri Sep 14, 2018 3:50 pm

↑ Does it come with a дача on the Black Sea shores? :P

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Re: Venezuela Meltdown

Post by xouper » Fri Sep 14, 2018 5:05 pm

I didn't know that Venezuela currency was printed 90 degrees from the usual orientation.

At first it was somewhat disconcerting. :?

But then I thought, how do I hold my dollar bills when I count them?

And then it makes more sense.

Perhaps I would like it better if American dollars were printed 90 degrees from "normal".

Prolly never find out.

How many other countries print their money vertically instead of the more common horizontally?

Is this a trend or just an anomaly?

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Re: Venezuela Meltdown

Post by Witness » Sat Sep 15, 2018 1:05 am

A lesson in desperation:
Venezuela Raises Minimum Wage 3,000% and Lots of Workers Get Fired

Venezuelan workers who earned a pittance are now earning a slightly larger pittance, thanks to a big increase in the minimum wage. What they may not have are jobs.

Starting this week, 7 million employees are guaranteed 1,800 bolivars a month -- worth about $20 at the black-market rate. President Nicolas Maduro intended the mandate as political boost, but it’s having the opposite effect as companies, already hit by Venezuela’s epic economic contraction, tell workers they can’t afford to keep them.

While there have been many similar moves in the past, never has one been so disruptive, arriving amid hyperinflation, depression and devaluation. Some employers are restructuring costs, rejiggering pay scales and negotiating settlements with workers. Others are simply dismissing people. Much of the action happens secretively as companies try to avoid punishment by the government, which has been jailing those it believes are flouting the rules.
https://www.bloomberg.com/news/articles ... -venezuela

Desperate for cash, Venezuela threatens to sue its neighbors

Bogota, Colombia – As Venezuelan President Nicolás Maduro spends the weekend in China nailing down a $5 billion emergency loan, his cash-strapped administration is floating another money-making scheme: suing its neighbors.

In recent days, Maduro and his cabinet have said they might sue Colombia, Ecuador and Perú for their “xenophobic” treatment of Venezuelan migrants. And on Tuesday, Maduro ordered his justice department to sue Colombia to claw back money he says his administration has spent providing social services to millions of Colombians living in Venezuela.

The legal threats come as Venezuela seems increasingly desperate for cash. Once wealthy, the country is being slammed with chronic food and medicine shortages. Its foreign cash reserves are at their lowest levels since the 1980s. And oil output, the country’s lifeblood, is down to levels not seen since a 2002 oil-worker strike. In addition, U.S. sanctions have been keeping the country from finding fresh funds.

That could change this weekend, with Maduro in Beijing finalizing a $5 billion loan the government says it will use to boost crude production.
https://www.miamiherald.com/news/nation ... 24270.html

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Re: Venezuela Meltdown

Post by shuize » Sat Sep 15, 2018 2:25 am

Witness wrote:
Sat Sep 15, 2018 1:05 am
A lesson in desperation:
Venezuela Raises Minimum Wage 3,000% and Lots of Workers Get Fired

Venezuelan workers who earned a pittance are now earning a slightly larger pittance, thanks to a big increase in the minimum wage. What they may not have are jobs.

Starting this week, 7 million employees are guaranteed 1,800 bolivars a month -- worth about $20 at the black-market rate. President Nicolas Maduro intended the mandate as political boost, but it’s having the opposite effect as companies, already hit by Venezuela’s epic economic contraction, tell workers they can’t afford to keep them.

While there have been many similar moves in the past, never has one been so disruptive, arriving amid hyperinflation, depression and devaluation. Some employers are restructuring costs, rejiggering pay scales and negotiating settlements with workers. Others are simply dismissing people. Much of the action happens secretively as companies try to avoid punishment by the government, which has been jailing those it believes are flouting the rules.
https://www.bloomberg.com/news/articles ... -venezuela

Desperate for cash, Venezuela threatens to sue its neighbors

Bogota, Colombia – As Venezuelan President Nicolás Maduro spends the weekend in China nailing down a $5 billion emergency loan, his cash-strapped administration is floating another money-making scheme: suing its neighbors.

In recent days, Maduro and his cabinet have said they might sue Colombia, Ecuador and Perú for their “xenophobic” treatment of Venezuelan migrants. And on Tuesday, Maduro ordered his justice department to sue Colombia to claw back money he says his administration has spent providing social services to millions of Colombians living in Venezuela.

The legal threats come as Venezuela seems increasingly desperate for cash. Once wealthy, the country is being slammed with chronic food and medicine shortages. Its foreign cash reserves are at their lowest levels since the 1980s. And oil output, the country’s lifeblood, is down to levels not seen since a 2002 oil-worker strike. In addition, U.S. sanctions have been keeping the country from finding fresh funds.

That could change this weekend, with Maduro in Beijing finalizing a $5 billion loan the government says it will use to boost crude production.
https://www.miamiherald.com/news/nation ... 24270.html
First of all, that's impossible. We've been assured by American leftists that no harm can ever come from raising the minimum wage.

Second of all, that's impossible. We've been assured by Venezuelan leftists that there is no refugee crisis for them to sue over.

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Re: Venezuela Meltdown

Post by Doctor X » Sat Sep 15, 2018 2:42 am

You mean you cannot create something from nothing?

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Re: Venezuela Meltdown

Post by gnome » Sat Sep 15, 2018 5:36 pm

shuize wrote:
Sat Sep 15, 2018 2:25 am

First of all, that's impossible. We've been assured by some American stupid leftists that no harm can ever come from raising the minimum wage.
Fixed that for you. Straw is too easy a target.

Obviously it is possible to raise the minimum wage too high. You can probably find some dumbos that literally do not think so, but why only debate them?

In this case, money is so meaningless that pay in currency is meaningless, so minimum wage even more so. Don't you wind up having to pay people in supplies and durable goods at a time like this? Otherwise they're basically working for free. Chasing the hyperinflation with wages is a waste of time.
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