Venezuela is inching closer to collapse

[dineshb316]

http://money.cnn.com/2018/01/09/news/economy/venezuela-oil-production/index.html

Venezuela has more oil than any other nation in the world, but it keeps pumping less and less. Oil production fell in December to one of its lowest points in three decades, further depriving the cash-strapped country of its only major source of revenue and adding to the suffering of its people.

Venezuela produced 1.7 million barrels of oil a day, according to S&P Global Platts, which polled industry officials, traders and analysts and reviewed proprietary shipping data.

That's the lowest since 2002, when a failed coup temporarily took hold of the government-run oil company, PDVSA.

Other than that, oil production is the lowest in 28 years. It's down 27% just since 2014, when the country's economic crisis took hold, according to OPEC and S&P figures.

The decline in oil production is prolonging the misery for 30 million Venezuelans.

People there are losing weight because of food shortages, and children are dying in hospitals because basic medicine and equipment aren't available.

Malaria, infant deaths and maternal deaths have all increased significantly, official figures show. The government uses money from oil exports to buy what little food and medicine actually make it in.

It's also a sign of mismanagement by the government of President Nicolas Maduro, who succeeded the late Hugo Chavez in 2013. And it couldn't come at a worse time: Venezuela has defaulted on some of its debt and owes a lot more.

In total, Venezuela has defaulted on $1.2 billion, according to Caracas Capital, a firm in Miami that tracks the country's debt. That's a relatively small sum in the world of bonds. The trouble is that it's a sign of what's to come, experts say.

Venezuela and PDVSA owe bondholders more than $60 billion. So far, Wall Street is waiting to get paid instead of fighting a long legal battle with Maduro's administration.

Experts say a default on all Venezuela's debt would spell immediate trouble for Maduro's regime. If enough investors of the defaulted debt trigger an "acceleration" clause, meaning they want immediate repayment, investors holding all other Venezuelan bonds can make the same claim.

Investors are used to late payments from Venezuela, which is notoriously behind schedule. They wait because Venezuelan bonds pay hefty returns, with rates as high as 12.75%. By comparison, a typical 10-year U.S. bond pays 2.5% interest.

But Wall Street is starting to sour on Venezuela's lucrative bonds. PDVSA's bond maturing in 2022 is trading at 25 cents on the dollar, down from 48 cents in early November, according to MarketAxess BondTicker.

If investors give up and trigger the acceleration clause, they have the right to seize Venezuelan oil that's in the United States or on tankers in the ocean as collateral.

That would cut off the government's ability to bring in what little revenue it has. And that would cause more suffering for ordinary Venezuelans struggling to live through severe shortages of food and medicine.

[foss]

http://money.cnn.com/2018/01/09/news/economy/venezuela-oil-production/index.html

Venezuela has more oil than any other nation in the world

[Redman]

So if the bonds are trading at 25 cents on the dollar.
Maduro should quietly buy them up.
I'm pretty sure they were priced below 15%.

At those numbers...that's 2 year interest.

Or buy enough to forestall the acceleration.

[toyolink]

When one looks at a population of 32 million and annual oil production (even at todays record lows) valued at approx. US $24,820 million or TT $168,528 million.........you really cant help but wonder.

[hydroep]

On Monday's "Morning Brew" Hema asked Guy Smiley if it made sense to hitch our wagon to Venezuela (regarding the Gas sharing contract) given that country's political (and economic) instability. He said that the arrangement brokered with Venezuela can "withstand scrutiny"...whatever the hell that means...regardless of the regime in power...

We shall see...

[hydroep]

Bumsie and bress to the rescue...

Venezuela's 'butt-lift' boom

The South American country is facing political and economic crises. But neighbours from the south are bringing new business in a surprising way.

11 January 2018

Brazil: home of its namesake “butt lift,” South America’s largest country has long had a thriving plastic surgery industry that has fuelled countless liposuctions, implants, nips and tucks.

But recently, the economic woes of Brazil’s northern neighbour Venezuela are prompting more Brazilians to cross the border for surgery, where cosmetic tweaks are far cheaper.

Under the administration of its president Nicolas Maduro, Venezuela has been stricken by falling oil revenues, violent anti-government protests and widespread food shortages. Inflation is rife and the value of the country’s currency – the bolivar – has dropped dramatically since early 2016.

The sudden increase in purchasing power has created a unique opportunity for Francisca Maia Vasconcelos, who has built a business ferrying patients, mostly from the city of Manaus in Brazil, across the border to the Venezuelan town of Puerto Ordaz, where surgeries are cheaper.

Though prices vary, a liposuction, breast and buttock augmentation surgery in Venezuela can cost Brazilians around 10,000 real ($3,098). In Brazil the same procedures can cost closer to 30,000 real.

http://www.bbc.com/capital/story/20180110-venezuelas-butt-lift-boom

[Numb3r4]

Bumsee tune does always work for carnival here, I don't see why it can't work there.

Latin America has a real thing for bumsee, it is about high time we capitalize on it, diversify people.

[Monkey Man]

I rel sorry fer dem. Buh the less oil on the market the better for we.

[pugboy]

Many of those docs are quacks though
I know of somebody who is in a coma still after a botched surgery there
The clinic closed up right after,

[fatboy slim]

communism is never a good thing

[TriP]

Far away from Venezuela's Capital Caracas lies a Coastal Town struggling to feed itself.

Cradled in the Gulf of Paria, the Town survives on Fishing.

But almost everything else is Smuggling to its Shores from Neighbouring Trinidad and Tobago


Mar 25, 2018

[The_Honourable]

Damn... i mean really... damn

Btw... coal for food? why coal is so valuable to Trinidad?

[Zetski]

Damn... i mean really... damn

Btw... coal for food? why coal is so valuable to Trinidad?

Because we don't have any other means of generating electricity.. coal is cheaper and we already have infrastructure to burn it.

Alot of things in Trinidad is dependent on a constant supply of electricity. Nobody have time for investing in renewable energy like tidal power.. it is too costly cuz you will have to do environmental assessments, modelling, find a company with suitable technology etc etc. They should have done this 20 years ago.. they thought oil/gas/coal would last forever.

[matix]

4-5 bags of coal? Who will buy that small amount?

[shake d livin wake d dead]

bags of coal is just the view point of one person....they should show the real commodities that are traded....the dasheen bush and dairy dairy..

[xtech]

Damn... i mean really... damn

Btw... coal for food? why coal is so valuable to Trinidad?

Because we don't have any other means of generating electricity.. coal is cheaper and we already have infrastructure to burn it.

Alot of things in Trinidad is dependent on a constant supply of electricity. Nobody have time for investing in renewable energy like tidal power.. it is too costly cuz you will have to do environmental assessments, modelling, find a company with suitable technology etc etc. They should have done this 20 years ago.. they thought oil/gas/coal would last forever.

i think its coals for BBQ pits. Lots of BBQ biz around and its probably expensive to source locally because of our trini mentality if you using it to make money you automatically should pay more for it.

I Saw a boat bring couple tons of ole iron already to trade on the wharf in sando.

[EFFECTIC DESIGNS]

This is the effects of socialism, it is what Bernie Sanders and Jeremy Corbyn wants, they have praised Maduro many times

[Daran]

This is the effects of socialism, it is what Bernie Sanders and Jeremy Corbyn wants, they have praised Maduro many times

Yes ED I believe you

[Miktay]

This is the effects of socialism, it is what Bernie Sanders and Jeremy Corbyn wants, they have praised Maduro many times

Truth.

[The_Honourable]

Damn... i mean really... damn

Btw... coal for food? why coal is so valuable to Trinidad?

Because we don't have any other means of generating electricity.. coal is cheaper and we already have infrastructure to burn it.

Alot of things in Trinidad is dependent on a constant supply of electricity. Nobody have time for investing in renewable energy like tidal power.. it is too costly cuz you will have to do environmental assessments, modelling, find a company with suitable technology etc etc. They should have done this 20 years ago.. they thought oil/gas/coal would last forever.

i think its coals for BBQ pits. Lots of BBQ biz around and its probably expensive to source locally because of our trini mentality if you using it to make money you automatically should pay more for it.

I Saw a boat bring couple tons of ole iron already to trade on the wharf in sando.

Thanks Zetski and xtech.

I agree with ED... socialism is sheet.

[ruffneck_12]

This is the effects of socialism, it is what Bernie Sanders and Jeremy Corbyn wants, they have praised Maduro many times

x2

[Galvatron]

Damn... i mean really... damn

Btw... coal for food? why coal is so valuable to Trinidad?

Because we don't have any other means of generating electricity.. coal is cheaper and we already have infrastructure to burn it.

Alot of things in Trinidad is dependent on a constant supply of electricity. Nobody have time for investing in renewable energy like tidal power.. it is too costly cuz you will have to do environmental assessments, modelling, find a company with suitable technology etc etc. They should have done this 20 years ago.. they thought oil/gas/coal would last forever.

Wdf you talking bout? Trinidad's electricity generation solely utilizes natural gas! We don't use coal!

[Zetski]

Damn... i mean really... damn

Btw... coal for food? why coal is so valuable to Trinidad?

Because we don't have any other means of generating electricity.. coal is cheaper and we already have infrastructure to burn it.

Alot of things in Trinidad is dependent on a constant supply of electricity. Nobody have time for investing in renewable energy like tidal power.. it is too costly cuz you will have to do environmental assessments, modelling, find a company with suitable technology etc etc. They should have done this 20 years ago.. they thought oil/gas/coal would last forever.

Wdf you talking bout? Trinidad's electricity generation solely utilizes natural gas! We don't use coal!

Thank you for pointing that out... lmao... I thought Trinidad used coal and natural gas..... did not know it was just natural gas. ah feeling dumb like imbert now

[sMASH]

i want to think that they use coal as a stand in for cocaine or weed... just for the documentary. im racking my brain to figure out what would cause the demand for coal in trinidad. unless some thing goin on in the bush that need heat, but u cant raise suspicion with current usage or large amounts of petroleum fuels, i dont understand...


i dont understand why the country side people dont plant root crops and raise animals and trade with the others, and slowly rebuild the economy.

[paid_influencer]

i dont understand why the country side people dont plant root crops and raise animals and trade with the others, and slowly rebuild the economy.

people steal the yam

[sMASH]

^^ annansi steals yam.

[TriP]

found this on the minute, everyday news site on venezuela, seeing deals with iran and russia


http://www.newsnow.co.uk/h/World+News/L ... /Venezuela

[DVSTT]

Looking at some of those documentaries on Venezuela and can't help but wonder if we heading down the same path.

[RBphoto]

Looking at some of those documentaries on Venezuela and can't help but wonder if we heading down the same path.

Tobago is almost there.

[ruffneck_12]

A drop of dirty water in a bucket of clean water just creates another bucket of dirty water.

Do not let them come here with their problems. Desperate people resort to desperate measures, like crime.
Gang member will be coming across, and they will war with trinidad gangs. And we will be caught in the crossfire.

Accepting Refugees only makes the host country suffer more. Look at what's happening with Europe *coughrapegangscough*