Venezuela how bad can it get ?

I feel for the common Venezuelans who have been under mismanagement for a few decades and no signs of any respite.
I read that Ecuador and Brazil are tightening borders. With maybe 1 Million % Inflation rate forecast for year end. All those socialist dreams went sour with the oil price decline but also lack of maintenance has fluked that up big time. I remember reading of the sad plight of Zimbabwe commoners who suffered from similar hyper inflation. What a mess for not being managed better.

www.bbc.co.uk...

A government plan to curb hyperinflation is coming into force in Venezuela amid confusion about how it will work. From Monday, new banknotes denominated in "sovereign bolivars" are legal tender, with five zeros taken off. The measures come after the International Monetary Fund predicted that inflation could reach one million per cent this year. Economists have warned that the new measures could make things worse. What's happening on Monday? The move is effectively a redenomination. President Nicolás Maduro is lobbing five zeros off the current currency, the "strong bolívar", and giving it its new name.

www.bbc.co.uk...

www.bbc.co.uk...





Fox News Business Angle. Will America intervene ?

Venezuela how bad can it get ?

1. Cannibalism.
2. Breeding ground for jihadists.

It can get a whole lot worse.

a reply to: neo96

Basically this. A cartel takeover etc

a reply to: avgguy

Drugs are a well known medium for escapism.

Cartels, and middle eastern terrorists are known to work with each other.

So yeah.

If it weren't for the oil...the country would be in ruin as Mexico...blame it on the oil cartels

Venezuela was still doing OK with low oil prices. But the government tried to cap all salaries in the interests of solidarity. Oil worker were highly paid. But they joined a national strike, and the government immediately had them fired. But they were the only people who knew the geology of the land. So when their replacements were installed, they didn't know about various problems and ended up damaging machinery which causes the loss of more oil revenue.

You mean the ones who rallied around Hugo Chavez burning our Flag chanting Death to America! How short folks memories are. The farther away from equilibrium, the stronger the correction. Broken people in a broken world...

a reply to: skywatcher44

originally posted by: skywatcher44
I read that Ecuador and Brazil are tightening borders.

I think you mean Columbia and Brazil. Ecuador doesn't border Venezuela.

You know it's bad when the nation that's synonymous with drug cartels considers them to be undesirables.

They HAD to be punished. They tried to shake off the world money order. Easy to do (the same as Greece), give them easy access to foreign money. Get them deep in debt, then tighten the noose. That ladies and gentlemen is how to take over a country without spilling your blood. Spill the blood of the populace cos they don't count, but you've got the prize.
Libya went nearly the same way but foreign blood was spilt in that debacle. But that country in now in line.

a reply to: AndyFromMichigan

Ecuador does border Columbia and is experiencing a major influx of migrants from Venezula passing thru Colombia. It could be the next great Migrant Refugee crisis. The Red Cross recently dispatched a hospital ship, hopefully more help will arrive in time.

www.google.com...

originally posted by: stormcell
Venezuela was still doing OK with low oil prices. But the government tried to cap all salaries in the interests of solidarity. Oil worker were highly paid. But they joined a national strike, and the government immediately had them fired. But they were the only people who knew the geology of the land. So when their replacements were installed, they didn't know about various problems and ended up damaging machinery which causes the loss of more oil revenue.

Boy does that story get repeated time after time in lots of countries. Next up for that...... South Aftrica and their farms.

originally posted by: AndyFromMichigan

originally posted by: skywatcher44
I read that Ecuador and Brazil are tightening borders.

I think you mean Columbia and Brazil. Ecuador doesn't border Venezuela.

You know it's bad when the nation that's synonymous with drug cartels considers them to be undesirables.

Should have added Columbia they were letting them through and pushing them towards Ecuador but Ecuador have started to ask for passports which the refugees or many of them do not have.

originally posted by: Skywatcher2011
If it weren't for the oil...the country would be in ruin as Mexico...blame it on the oil cartels

It had nothing to do with oil cartels. There president went around and nationalized all their businesses in an attempt to end poverty. Problem was the businesses could not support it. For example he tripled the number of people employed by their oil company. Yet production didn't increase. These people were hired not because they were needed but as a public works project.

When the oil prices dropped the payroll and debt was to high causing the oil company to default on loans at first. This eventually led to defaults on payroll and then it snowballed into other industries they had nationalized.

Now the government owns all kinds of businesses that can't sustain themselves and lost money. Normally to get out of this a country could raise taxes which raises revenue. Problem is they don't have anyone to tax because everything is owned by the government.

This is exactly what thatcher warned about socialism works great until you run out of other people's money.

While it's good to see Maduro and his government finally collapse, we need to start thinking of the future of Venezuela after this. It will take some time and money and effort to get get that country back on it's feet.

a reply to: skywatcher44

Truthfully, after watching some documentaries about Venezuela wherein Venezuelan's were interviewed, it became very clear that Venezuelans are nuts! Not all of course, but for the most part they are damned near bat crap crazy. They honestly don't think like everyone else. They aren't remotely rational.

The only solution is for a UN task force to move in, take over, disband the military and assume control of the country as a UN protectorate. And the first thing that needs to be done after the UN takes control is to close the borders so they crazies can't escape into surrounding countries to spread their infectious insanity.

That is truly the only answer. This business of allowing entire regions to personal fiefdoms of crazy tin pot dictators, who rob the country blind and in the process create so much human misery that they contribute their diseased populations to the refugee streams, absolutely has to stop!

And now Argentina has filed Human Rights abuses charges against Venezuela in the Hague or whatever. Fat lot of good that will do, but I think it shows plenty of other countries would support an UN intervention! And frankly, I would prefer to NOT see the US lead the effort, further draining US resources. The Chinese should lead this effort! They are ruthless, efficient and practical, I have no doubt they could handle the situation with great ease.

a reply to: pavil
Ah, that's nice. Now tell me just who is dragging all the profits of their oil? I could give you a guess and it aint them.

originally posted by: crayzeed
a reply to: pavil
Ah, that's nice. Now tell me just who is dragging all the profits of their oil? I could give you a guess and it aint them.

Let's hear your guess.

They have horribly mismanaged their Oil Industry, which was all they really had.

yeah. Autumn weather is expected by the end of the week, Looks like they're making handshakes a legal requirement for citizenship now, they just had the biggest Pride parade in history there, and 16 people were injured when a flixbus...oh wait. wrong socialist country...I was thinking Denmark. blah.

#Venezuela. Picture of a new five Bolivar-note (R) and its equivalent in old Bolivar-bills in Caracas. #AFPphoto by @federicoparra

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