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Re: Venezuela disaster?

Postby Allergic2BunnyEars » February 19th, 2016, 6:33 am

http://www.trinidadexpress.com/20160218 ... s-devalues

Economically struggling Venezuela hikes gas prices, devalues


President Nicolas Maduro announced a currency devaluation and gasoline price hike Wednesday in an attempt to shield Venezuela's oil-dependent economy from collapse and fend off mounting calls for his ouster.

Gas prices will jump more than sixtyfold — the first increase of any kind in about 20 years. Yet drivers will still be able to fill their tanks for pennies in this South American country where gasoline has long been so heavily subsidized that it is virtually free.

The price of premium gasoline will rise from 0.1 bolivar a liter to 6 bolivars per liter, and regular gasoline will jump from 0.07 bolivar to 1 bolivar per liter. In contrast, a beer costs around 300 bolivars while a basket of strawberries goes for 800 bolivars. Calculated at the widely used black market currency exchange rate, the price per gallon will be a few U.S. cents.

Maduro said the increased gasoline revenue will finance the government's social programs.

"We must charge for gas," he said. "I ask that the people welcome and support this new system."

Gasoline prices are a touchy issue in Venezuela, where memories are still vivid from 1989 riots in Caracas that erupted after the proposal of a series of austerity measures including a hike in gas prices.

Maduro also announced that the strongest of the country's official exchange rates, used for essential goods like food and medicine, would be changing from 6.30 bolivars to the U.S. dollar to 10 bolivars to the dollar. Meanwhile, the bolivar is worth about 1,000 to the dollar on the black market.

The economic measures come as Maduro fights for his political survival.

Oil accounts 95 percent of Venezuela's export earnings, and plummeting world prices have helped push its state-led economy into a deep recession, with chronic shortages, empty store shelves and soaring inflation.

Opposition leaders took control of Congress in January for the first time in more than a decade and have been on a collision course with the socialist president ever since.

Lawmakers are weighing several options for removing Maduro from office, including shortening his term, and calling a constitutional referendum. But many fear the Supreme Court, which has not ruled against the executive branch since the late President Hugo Chavez took office in 1999, would simply overturn these efforts.

Opposition leaders quickly dismissed Wednesday's measures as insufficient to right the flagging economy.

Earlier in the day, the opposition's top vote-getter, two-time opposition presidential candidate Henrique Capriles, called for a presidential recall referendum.

Maduro's approval ratings have languished in the 20 percent range for most of his term, but a recall battle would be complicated. To force a recall referendum, the opposition would need to gather nearly 4 million signatures. And if a referendum was held, the president would be removed only if the number of anti-Maduro votes exceeded the number of votes he got in the 2013 election.

A voter referendum might be a longer and more risky path than some of the other recall options, but Capriles said it was one the government would be forced to recognize.

"Now is the time," he said. "They will not be able to overturn a referendum."

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Re: Venezuela disaster?

Postby djaggs » February 19th, 2016, 11:44 am

More proof that socialism does not work. Never has, never will.

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Re: Venezuela disaster?

Postby djaggs » February 19th, 2016, 11:49 am

Very good article here:

The United Socialist Party’s high level of control over all aspects of life in Venezuela has restricted the development of a private sector. Starting a business in Venezuela, for example, is a significant undertaking. According to the World Bank, completing the required paperwork takes nearly six months, by far the longest of any country for which data is available.

http://allemergingmarkets.com/articles/ ... d-economy/

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Re: Venezuela disaster?

Postby zoom rader » February 19th, 2016, 7:25 pm

djaggs wrote:More proof that socialism does not work. Never has, never will.


It have a few clowns on here looking for proof. They most likely believe that government should be running businesses

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Re: Venezuela disaster?

Postby hydroep » April 20th, 2017, 2:09 pm

Tension is on the rise again...

http://www.bbc.com/news/world-latin-america-39645809

Venezuela crisis: Three killed at anti-government protests
At least three people have been killed in Venezuela in protests against the government of President Nicolas Maduro.

A teenager in the capital Caracas and a woman in San Cristobal, near the Colombian border, were shot dead.

A national guardsman was killed south of the capital.

Tens of thousands of people rallied to demand new presidential elections and the release of jailed opposition politicians. Mr Maduro accused the opposition of attacking police.
What happened?

Opposition groups had called on their supporters to take part in anti-government protests across the country on Wednesday.

In the capital, Caracas, tens of thousands marched towards the Ombudsman's office from different points in the city.

Some of the marches turned violent, with protesters throwing stones and members of the security forces firing tear gas and rubber bullets.

Tens of thousands of government supporters also gathered for a rival rally in Caracas at which President Maduro spoke.


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Re: Venezuela disaster?

Postby timelapse » April 20th, 2017, 2:32 pm

djaggs wrote:More proof that socialism does not work. Never has, never will.

Our system ent working for us either eh pal

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Re: Venezuela disaster?

Postby Slartibartfast » April 20th, 2017, 4:46 pm

EmilioA wrote:
VexXx Dogg wrote:Why did their economy crash? What can we learn from them?
Given that we are in such close proximity, what potential threats do we face?

I wouldn't venture into how we can help them, because our own economy is limping - we have to fix home first.



1. Venezuela is even more oil dependent than we are. For us Oil and NG contribute something like 60% of our revenue. For Venezuela it was closer to 90%. So falling prices hurt them more than us.

2. The real problem in Venezuela isnt nationalization as ZR is obsessed with, its the controls on currency, imports and prices. Take the example of toilet paper . Lets say its costs 90 cents to manufacture and market a single roll. Ok so you price it at 99 cents. Then over time thanks to a falling currency it becomes more expensive to make. Now its cost a full dollar to make and sell. ordinarily you raise your price to $1.10 but in Venezuela price controls mean you cant. Youre stuck at 99cents which is less than the cost of making it. So what do you do ? You stop making it becuase it now a loss.

Multiply that across the economy and suddenly industry seizes up. That was the situation last year with TVs and Washing machines selling for less than cost so they stopped making them.

3. Venezuela also has import controls , making it virtually impossible to import products which are also made domestically. So then cant even buy cheap Chinese sheit to offset the problem.

4. Finally the currency is fixed and overvalued ,so instead of serving as release valve its just keeps the pressure in resulting in runaway inflation as the currency becomes worthless.

There is also a quota on the amount of US you are allowed to buy which is extremely low iirc making it very difficult to import as well.

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Re: Venezuela disaster?

Postby Numb3r4 » April 20th, 2017, 9:15 pm

JTUM to the rescue!!!

They pledged support for President Maduro today.

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Re: Venezuela disaster?

Postby desifemlove » April 22nd, 2017, 6:14 am

I don't feel for them. they have hotties as women, but that's it.

But then el padre Hugo and successive leaders have screwed them over, and T&T WILL be the same if things don't chnge or alter that much.

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Re: Venezuela disaster?

Postby desifemlove » April 22nd, 2017, 6:41 am

Image

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Re: Venezuela disaster?

Postby desifemlove » April 22nd, 2017, 6:42 am

zoom rader wrote:
djaggs wrote:More proof that socialism does not work. Never has, never will.


It have a few clowns on here looking for proof. They most likely believe that government should be running businesses

It depends. China works, the state still runs more businesses there.

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Re: Venezuela disaster?

Postby desifemlove » April 22nd, 2017, 6:48 am

If I were to diagnose Vene's issues, and I'm not an economist so it may not be accurate, I just think they've relied too much on energy. They are like a South American Nigeria, or Saudi, they are not prepared much for economic activity beyond it.

Plus whilst it has been democratic for a while now, their history of revolutions and constitutional changes doesn't help. They are also next door to Colombia, and in the border states of Colombia, they does ship/produce plenty drugs.

It's a case of mismanagement, and Brazil is no longer the power it was, considering President Lula and now the female President both have been charged with corruption.

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Re: Venezuela disaster?

Postby The_Honourable » April 22nd, 2017, 8:10 pm

How Chávez and Maduro have impoverished Venezuela

IT IS hard to convey the severity of Venezuela’s unfolding crisis. Its extent is astounding: the economy shrank by 10% last year, and will be 23% smaller than in 2013 by the end of this year, according to IMF forecasts. Inflation may exceed 1,600% this year. The human details are more poignant: over the past year around three-quarters of Venezuelans have lost weight, averaging 8.7kg per person, because of a scarcity of food. No war, foreign or civil, is to blame for this catastrophe. Venezuela did this to itself. And its woes are deepening, as the regime of President Nicolás Maduro lurches towards dictatorship. Fifty years ago, Venezuela was an example to the rest of Latin America, a relatively stable democracy and not much poorer than Britain. How did this tragedy occur?

Read more: http://www.economist.com/news/finance-a ... weight-how

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Re: Venezuela disaster?

Postby nos_specialist » April 23rd, 2017, 6:16 am

Sad... reall sad.

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Re: Venezuela disaster?

Postby Average » April 23rd, 2017, 7:43 am

Time to deport all the Venezualans. They making scarfy-hitler yearn to be like Venezuela.

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Re: Venezuela disaster?

Postby racedriverpro » April 23rd, 2017, 10:55 am

It sickening how these Venezuelans just eating out of our plate.

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Re: Venezuela disaster?

Postby EFFECTIC DESIGNS » April 23rd, 2017, 12:15 pm

The_Honourable wrote:How Chávez and Maduro have impoverished Venezuela

IT IS hard to convey the severity of Venezuela’s unfolding crisis. Its extent is astounding: the economy shrank by 10% last year, and will be 23% smaller than in 2013 by the end of this year, according to IMF forecasts. Inflation may exceed 1,600% this year. The human details are more poignant: over the past year around three-quarters of Venezuelans have lost weight, averaging 8.7kg per person, because of a scarcity of food. No war, foreign or civil, is to blame for this catastrophe. Venezuela did this to itself. And its woes are deepening, as the regime of President Nicolás Maduro lurches towards dictatorship. Fifty years ago, Venezuela was an example to the rest of Latin America, a relatively stable democracy and not much poorer than Britain. How did this tragedy occur?

Read more: http://www.economist.com/news/finance-a ... weight-how


Everybody knows how it occurred.

If they said that this is the results of socialism it would make Bernie Sanders look like a quack so instead of saying they ask questions like how did this occur? they won't tell you because the leaders they support would look like a bunch of quacks

UK's liberal labour Jeremy-Corbyn for example is a big fan of Maduro and Venezuela.

http://www.express.co.uk/news/world/631 ... experiment

^ Venezuela: Labour's socialist utopia is a violent, poverty-stricken failed experiment

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Re: Venezuela disaster?

Postby sMASH » April 23rd, 2017, 10:34 pm


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Re: Venezuela disaster?

Postby $h@dy » June 28th, 2017, 10:02 am

Protests, looting, gov't offices burned in Venezuela

A total of 68 stores were looted and several government offices were burned following anti-government protests late Monday and Tuesday in the city of Maracay, west of Venezuela's capital of Caracas.

Large protests against the government of President Nicolas Maduro have been regularly held in Caracas over the last three months, but significant protests have also occurred in provincial cities.

The pro-Maduro governor of Aragua state, of which Maracay is the capital, said the looting hit supermarkets, drug stores and small bakeries and liquor stores.

Gov. Caryl Bertho said a tax office, a government telephone office and ruling party headquarters were burned late Monday.

Some 216 people were arrested.

Bertho blamed protesters for the looting, but opposition activists say gangs of men on motorcycles looted without interference from authorities. Such groups are often government supporters.

Seventy-five people have been killed nationwide during almost 90 days of protests seeking Maduro's removal. Federal prosecutors confirmed that the leader of an opposition party, Yofre Rodriguez, 18, had suffered a bullet wound to the head in another city in Aragua state.

And in protests in Caracas Monday night, three members of the National Guard suffered bullet wounds during confrontations with protesters.

The current wave of unrest was triggered in late March when the Supreme Court's constitutional chamber issued a sentence dissolving the National Assembly, a decision it later reversed amid a torrent of international criticism. More recently, the chamber threw out challenges to Maduro's much-debated bid to rewrite the nation's constitution.

Hundreds of thousands of demonstrators have taken to the streets demanding new elections as the nation battles triple-digit inflation, crippling food and medical shortages and rising crime.

http://www.looptt.com/content/protests- ... enezuela-4

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Re: Venezuela disaster?

Postby hydroep » June 28th, 2017, 10:17 am

And while the 8-ball is off improving his Golf handicap, the flow of Venezuelan "refugees" into T&T continues... :|

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Re: Venezuela disaster?

Postby Average » June 28th, 2017, 10:22 am

Venezuelans are stink. They will come here and kill us all out. Seal the f.ucking border.

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Re: Venezuela disaster?

Postby Monkey Man » June 28th, 2017, 11:24 am

DEEEEPACKKKKQUITEOOOOOOOO

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Re: Venezuela disaster?

Postby Cooloh » June 28th, 2017, 12:05 pm

http://www.bbc.com/news/world-latin-america-40426642

A helicopter has attacked Venezuela's Supreme Court in what President Nicolás Maduro called a "terrorist" incident.

Four grenades were dropped on the court and 15 shots fired at the interior ministry on Tuesday, officials said.

Ex-policeman Oscar Pérez said he had piloted the stolen helicopter to attack what he called a "criminal government". His whereabouts are unknown.

Venezuela is in the midst of a political and economic crisis that has sparked mass protests.

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Re: Venezuela disaster?

Postby airuma » June 28th, 2017, 12:07 pm

tr1ad wrote:
VexXx Dogg wrote:Why did their economy crash? What can we learn from them?
Given that we are in such close proximity, what potential threats do we face?

I wouldn't venture into how we can help them, because our own economy is limping - we have to fix home first.



learn from them?

if we people eh careful we would end up just like guyana or venezuela

granted in a very short time, guyana and suriname would be booming just as how trinidad once was

I think we have our eyes set on Jamaica status!

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Re: Venezuela disaster?

Postby airuma » June 28th, 2017, 12:12 pm

pete wrote:I read that part of the problem they faced and why they ran out of things like toilet paper is they only issued US to certain people.. black market went out of control so eventually the companies making toilet paper etc could make more money by just selling the US they were issued than buying raw materials to manufacture the toilet paper and sell.

This sounding like what some people think going on here now. Some are speculating that those with the resources are hoarding US and will sell when the value increases.... kinda like a US Dollar hedge fund....

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Re: Venezuela disaster?

Postby $h@dy » June 28th, 2017, 12:38 pm

A police helicopter fired on Venezuela's Supreme Court and Interior Ministry in what President Nicolas Maduro said was a thwarted terrorist attack aimed at ousting him from power.

The confusing incident, which may ratchet up tensions in a country already paralyzed by months of deadly anti-government protests, took place as Maduro was speaking live on state television Tuesday and as the high court handed down a series of rulings against the opposition.

He later said the helicopter had fired on the pro-government court with grenades, one of which didn't go off, helping avoid any loss of life.

Adding to the intrigue, pictures of a blue police helicopter carrying an anti-government banner appeared on social media around the same time as a video in which an apparent police pilot and budding action movie actor, identified as Oscar Perez, called for a rebellion against Maduro's "tyranny."

He said he was part of a coalition of renegade members of the country's security forces.

Authorities said they were still searching for the man.

"We have two choices: be judged tomorrow by our conscience and the people or begin today to free ourselves from this corrupt government," the man said while reading from a manifesto in front of four figures dressed in fatigues, wearing ski masks and carrying assault rifles.

There was no sign of any other police or troops taking part an uprising.

Many of Maduro's opponents took to social media to accuse the president of orchestrating an elaborate ruse to justify a crackdown against those seeking to block his plans to rewrite the constitution. Venezuela has been roiled by anti-government protests the past three months that have left at least 75 people dead and hundreds injured.

Less than two hours later, still on state TV, Maduro sounded alternately calm and angry as he told the audience about what had happened in the airspace just beyond the presidential palace.

"It could've caused a tragedy with several dozen dead and injured," he said, calling it a "terrorist attack."

Information Minister Ernesto Villegas later read a statement accusing those in the helicopter of firing 15 shots against the Interior Ministry as a reception was taking place for 80 people celebrating national journalist's day. It then flew a short distance to the court, which was in session, and launched what he said were four Israeli-made grenades of "Colombian origin," two of them against national guardsmen protecting the building.

The pro-government president of the high court said there were no injuries from the attack and there were no visible signs of damage outside either of the government buildings Wednesday morning.

Villegas said security forces were being deployed to apprehend Perez as well as recover the stolen German-built Bolkow helicopter. Photos of the pilot standing in front of the U.S. Capitol in Washington and a U.S. Coast Guard helicopter were displayed on state television to bolster the government's case that he was taking instructions from the CIA and the U.S. Embassy.

Perez, on his Instagram account, describes himself as a police investigator and tactical helicopter pilot whose passion is Venezuela. In 2015, he starred in a film called "Suspended Death" and several cinematic-like photos show him in fatigues bearing assault rifles, sky diving and standing in action poses with a German Shepard by his side.

National Assembly President Julio Borges expressed doubts about Maduro's version of events but cautioned that he and the rest of the opposition were still analyzing what happened.

"There are people who say it was a government-staged hoax, others who say it was real.... Whatever it was, it all points in the same direction: that the situation in Venezuela is unsustainable," he said in a radio interview Wednesday.

Maduro said Perez used to fly for his former interior minister, Miguel Rodriguez Torres, whom he accused of working for the CIA. Rodriguez Torres, who has been leading a campaign against Maduro made up of leftist supporters of the late Hugo Chavez, immediately dismissed the accusation as baseless.

As the drama was unfolding outside the court, inside magistrates were issuing a number of rulings further hemming in the opposition. One broadened the powers of the nation's ombudsman's office to allow it to conduct investigations that until now had been carried out exclusively by the chief prosecutor, a former loyalist who broke with Maduro over his plans to rewrite the constitution.

The helicopter incident capped a volatile 24 hours that began with widespread looting in the coastal city of Maracay on Monday night and continued Tuesday when opposition lawmakers got into a heated scuffle with security forces assigned to protect the National Assembly.

At least 68 supermarkets, pharmacies and liquor stores were looted and several government offices burned following anti-government protests in Maracay, which is about a 90 minute drive from Caracas.

Maduro condemned the violence but suggested he would fight to stay in power even if the government loses an election.

"We will never surrender. And what we couldn't accomplish through votes we will with weapons," he said in remarks that are likely to further inflame passions.

On Tuesday, opposition lawmakers got into fisticuffs with national guardsmen as they tried to enter the National Assembly. In a video circulating on social media, the commander of a national guard unit protecting the legislature aggressively shoved Borges as he's walking away from a heated discussion.

Not until after 9 p.m. did a small group of pro-government activists surrounding the congress allow a few dozen lawmakers and journalists to leave the neo-classical building.

http://www.looptt.com/content/venezuela ... ist-attack

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Re: Venezuela disaster?

Postby RedVEVO » June 28th, 2017, 4:42 pm

^^^

A suggestion .

Can you not paraphrase a section ? Then give the link.

These things so long long to read.

Just saying :D

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Re: Venezuela disaster?

Postby hong kong phooey » June 29th, 2017, 1:36 am

Dont worry rowley and the people of trinidad will send our hard earned tax money across there to help Murano out

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Re: Venezuela disaster?

Postby bluesclues » June 29th, 2017, 4:34 am

I tell you rowley want the same thing. They want dictatorship. They want to be leaders. They dont care if they are unsuitable, unknowing, unlearned and destroying the economy because they just dont understand the objectives of what they are supposed to be doing. They think leading is just being called leader.

Now you all see why God ban man from monarchy when there would be no prophets on earth. To protect allyuh from ppl like the leaders of venezuela. He give us democracy so we could kick out incompetent leaders because as man, they feel they clever but it have plenty they dont know about this world and why there are so many stringent and unavoidable guidelines and restrictions to leadership. They, the most incompetent always think that the system is obstructing them from being better at leadership and so try to find ways constantly to circumvent democratic safety systems.

But the fact of the matter is if you think that then you dont know what you're doing and should not be there. Have a heart and step down and stop destroying ppls lives. At what point does one recognize their own failure?

That is also good leadership.

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Re: Venezuela disaster?

Postby bluesclues » June 29th, 2017, 4:37 am

See imf warn them also about what imbert doing here. Venezuela started restricting imports instead of boosting export. Same thing i said imbert was doing and will drag this country downward. And it is. Oil slide a few dollars the other day everyone in central bank soil themselves... again.

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