Venezuela Meltdown

Lies, damned lies, and statistics.
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Doctor X
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Re: Venezuela Meltdown

Post by Doctor X » Tue May 09, 2017 6:26 am

Chavez said we need to blame Bush.

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Re: Venezuela Meltdown

Post by Abdul Alhazred » Tue May 09, 2017 9:13 am

Not "socialism". Communism.
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Re: Venezuela Meltdown

Post by Witness » Sat May 13, 2017 7:39 pm

BBC wrote:Venezuela has sacked Health Minister Antonieta Caporale after her department released statistics revealing a large jump in infant and maternal mortality.

Vice-Minister of Hospitals Luis López has been appointed to take over, according to state media.

The ministry's report showed the number of women dying in childbirth had risen by 65%, while child deaths were up 30%.

The national figures were released after almost two years without official data.

They also showed a jump in illnesses such as malaria and diphtheria.

The report reflects the country's deep economic crisis, which the opposition says is the result of government mismanagement.

President Nicolas Maduro argues that the health crisis is caused by medicines being hoarded to encourage a coup against him.
http://www.bbc.co.uk/news/world-latin-america-39896048

Kill the messenger! :(

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Re: Venezuela Meltdown

Post by Pyrrho » Sat May 13, 2017 7:41 pm

Abdul Alhazred wrote:Not "socialism". Communism.
More like Stalinism, without the pogroms.
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Re: Venezuela Meltdown

Post by sparks » Sat May 13, 2017 8:17 pm

Can't have a real revolution without a few good pogroms Pyrrho. Part of the triad of bullshit you know?
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Re: Venezuela Meltdown

Post by WildCat » Sun May 14, 2017 12:12 am

Pyrrho wrote:
Abdul Alhazred wrote:Not "socialism". Communism.
More like Stalinism, without the pogroms.
Yet...
Do you have questions about God?

you sniveling little right-wing nutter - jj

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Re: Venezuela Meltdown

Post by Anaxagoras » Wed May 31, 2017 5:31 am

Hot investment tip: Venezuelan bonds. No, seriously.

Probably not for Joe Sixpack, but for major hedge funds and wall street investment banks. For starters, they can buy them at 30 cents on the dollar:

Goldman Buys $2.8 Billion Worth of Venezuelan Bonds, and an Uproar Begins
Venezuelan bonds would seem to be an unlikely target for global investors.

The country is in near revolt and has barely enough ready cash to feed its people, much less pay the billions of dollars in debt that the government owes to its foreign lenders.

Yet bonds issued by Venezuela’s national oil company, Petróleos de Venezuela, or Pdvsa, have attracted some of world’s most sophisticated investors. They are betting that the government will use its dwindling supply of dollars to pay bondholders instead of importing food and medicine for its people.

Now, Goldman Sachs’ decision to snap up $2.8 billion worth of Pdvsa bonds maturing in 2022, at a 70 percent discount to the market price, has struck a nerve.
(I think what they mean here is that the market price is at a 70 percent discount to the face value.)

Of course these bonds are rated as below junk by the ratings agencies, but they figure they can still make money even if they have to take a "haircut". In the end they will compromise and agree to pay the bondholders maybe 40 cents on the dollar to settle the debt, which would be a nice profit if you buy them for 30 cents on the dollar.
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Re: Venezuela Meltdown

Post by Doctor X » Wed May 31, 2017 5:47 am

I have friends who are so liberal they were pro-Chavez. Yes . . . Chavez did not equal liberal; they just figured since he opposed Bush he must be apologized for.

Even tried to explain away his attacks on the press.






For some reason, now they would prefer I discuss SB XLIX and LI instead. . . .

--J.D.
Mob of the Mean: Free beanie, cattle-prod and Charley Fan Club!
"Doctor X is just treating you the way he treats everyone--as subhuman crap too dumb to breathe in after you breathe out."--Don
DocX: FTW.--sparks
"Doctor X wins again."--Pyrrho
"Never sorry to make a racist Fucktard cry."--His Humble MagNIfIcence
"It was the criticisms of Doc X, actually, that let me see more clearly how far the hypocrisy had gone."--clarsct
"I'd leave it up to Doctor X who has been a benevolent tyrant so far."--Grammatron
"Indeed you are a river to your people.
Shit. That's going to end up in your sig."--Pyrrho
"Try a twelve step program and accept Doctor X as your High Power."--asthmatic camel
"just like Doc X said." --gnome

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Re: Venezuela Meltdown

Post by Abdul Alhazred » Wed May 31, 2017 12:18 pm

More junk bond arbitrage?

Sounds familiar somehow.
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Re: Venezuela Meltdown

Post by Anaxagoras » Mon Jul 31, 2017 3:09 am

Now it has come to this.

Legitimacy of Venezuelan Election Comes Under Siege
BOGOTÁ, Colombia — The legitimacy of Sunday’s election to overhaul Venezuela’s Constitution was under threat as many voters avoided the ballot box, nations across the region rejected the predetermined result and the nation’s streets saw their deadliest day of civil unrest in three months.

President Nicolás Maduro had ordered a rewriting of Venezuela’s Constitution. The election on Sunday was simply to pick the members of the constituent assembly that will carry it out; there was no option to reject the process.

Nearly all candidates were politicians close to Mr. Maduro, presumably assuring that the outcome would leave his leftist movement with complete control of the country once the assembly takes charge.
Sounds a lot Iranian "elections" where voters are allowed to pick from among candidates pre-approved by the government. Anyone not to the government's liking is barred from even standing for election.
A fool thinks himself to be wise, but a wise man knows himself to be a fool.
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Re: Venezuela Meltdown

Post by Doctor X » Mon Jul 31, 2017 3:27 am

I blame Bush.

--J.D.
Mob of the Mean: Free beanie, cattle-prod and Charley Fan Club!
"Doctor X is just treating you the way he treats everyone--as subhuman crap too dumb to breathe in after you breathe out."--Don
DocX: FTW.--sparks
"Doctor X wins again."--Pyrrho
"Never sorry to make a racist Fucktard cry."--His Humble MagNIfIcence
"It was the criticisms of Doc X, actually, that let me see more clearly how far the hypocrisy had gone."--clarsct
"I'd leave it up to Doctor X who has been a benevolent tyrant so far."--Grammatron
"Indeed you are a river to your people.
Shit. That's going to end up in your sig."--Pyrrho
"Try a twelve step program and accept Doctor X as your High Power."--asthmatic camel
"just like Doc X said." --gnome

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Re: Venezuela Meltdown

Post by Witness » Mon Jul 31, 2017 3:54 am

Anaxagoras wrote:Sounds a lot Iranian "elections" where voters are allowed to pick from among candidates pre-approved by the government. Anyone not to the government's liking is barred from even standing for election.
Add to that countries without political parties (Gulf monarchies, some territories like tribal regions in Pakistan and… Vatican! :mrgreen: ), with a unique party (China, Cuba, NorK, Vietnam…) or where some king or the military has the last word. :|

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Re: Venezuela Meltdown

Post by Pyrrho » Sat Aug 12, 2017 12:13 am

http://www.standardrepublic.com/2017/08 ... /21118.htm
Inflation in Venezuela’s crisis-wracked economy has become so bad that the country’s official currency, the Bolívar, is now worth less than the fake gold used in Azeroth, the setting of the popular online role-playing game “World of Warcraft.”

Dolar Today, a website that tracks the black market rate of the Venezuelan currency, puts the exchange rate at about 10,987 Bolívars per dollar as of Friday morning. In comparison, the current gold price of a “World of Warcraft” token is about 7,288 gold pieces per dollar.

While in reality nobody actually trades in “World of Warcraft” gold, the comparison highlights the abysmal status of the Bolívar as the country’s socialist government struggles with a crumbling economy and a drastic rise in violent crime.

Venezuela’s opposition-led congress announced on Wednesday that inflation in the country’s economy quickened to 248.6 percent in the first seven months of the year and is expected to jump to almost 700 percent by December.
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Re: Venezuela Meltdown

Post by Rob Lister » Sat Aug 12, 2017 12:31 am

Image

I need a loaf of bread.

I wonder if they accept US$

I bet they do. Of course they do.

Does that mean we win?

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Re: Venezuela Meltdown

Post by Witness » Sat Aug 12, 2017 3:42 am

Image

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Re: Venezuela Meltdown

Post by Grammatron » Sat Aug 12, 2017 3:44 am

The dude on the mark has the "are you fucking kidding me" look as he reads the text.

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Re: Venezuela Meltdown

Post by Pyrrho » Sat Aug 12, 2017 11:08 am

It's okay. Trump broached the notion of US military intervention. All will be well.
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Re: Venezuela Meltdown

Post by Abdul Alhazred » Sat Aug 12, 2017 3:27 pm

US military intervention in Venezuela?

Why would it be any worse than those other times?

At least people ate.
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Re: Venezuela Meltdown

Post by sparks » Sat Aug 12, 2017 4:18 pm

Indeed they did.

As Marie Antoinette is commonly reported to have said: "Let them eat shit!" As you'll recall, she lost her shit a short time thereafter.
You can lead them to knowledge, but you can't make them think.

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Re: Venezuela Meltdown

Post by Doctor X » Sat Aug 12, 2017 4:29 pm

"Cake."

Delicious . . . delicious . . . cake.

--J.D.
Mob of the Mean: Free beanie, cattle-prod and Charley Fan Club!
"Doctor X is just treating you the way he treats everyone--as subhuman crap too dumb to breathe in after you breathe out."--Don
DocX: FTW.--sparks
"Doctor X wins again."--Pyrrho
"Never sorry to make a racist Fucktard cry."--His Humble MagNIfIcence
"It was the criticisms of Doc X, actually, that let me see more clearly how far the hypocrisy had gone."--clarsct
"I'd leave it up to Doctor X who has been a benevolent tyrant so far."--Grammatron
"Indeed you are a river to your people.
Shit. That's going to end up in your sig."--Pyrrho
"Try a twelve step program and accept Doctor X as your High Power."--asthmatic camel
"just like Doc X said." --gnome

WS CHAMPIONS X3!!! NBA CHAMPIONS!! Stanley Cup! SB CHAMPIONS X5!!!!!
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