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Latin America
Related: About this forumVenezuela Economic Crisis to Only Get Worse, Barclays Says
http://www.bloomberg.com/news/articles/2015-09-25/venezuela-economic-crisis-to-only-get-worse-barclays-saysVenezuela is suffering the deepest economic crisis in its history with output expected to contract 9.1 percent this year, Barclays Plc said Friday.
The economic contraction will likely reach 16.5 percent between 2014 and 2016, while inflation over that period will exceed 1,000 percent, Barclays wrote in a note to clients.
It is impossible to understand why the government is not reacting to this reality, why it has not taken measures to alleviate the economic distortions that are destroying the real income of Venezuelans, Barclays said.
President Nicolas Maduro will not likely announce any changes in economic policy before congressional elections Dec. 6, the bank said. With support for the ruling Socialist party at around 19 percent, the country is politically divided as it also battles low prices for oil, which accounts for 95 percent government export revenue.
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Venezuela Economic Crisis to Only Get Worse, Barclays Says (Original Post)
Bacchus4.0
Sep 2015
OP
What's your take? Will this be the year eliminates violence, inflation, shortages,
Bacchus4.0
Sep 2015
#2
Fred Sanders
(23,946 posts)1. Grow worse? As some capitalists would so fondly wish and wish.
Why do some folks hate socialism with such passion?
Bacchus4.0
(6,837 posts)2. What's your take? Will this be the year eliminates violence, inflation, shortages,
corruption, inept governance, and bring world peace?
COLGATE4
(14,732 posts)3. What's happening in Venezuela is not socialism - it's rampant
crony capitalism. And, as to "grow worse", the numbers don't lie. In a very short time Chavez and his acolytes have turned one of the richest countries in Latin America into an economic basket case exceeded only by some of the non-functioning hellholes in Africa. 1000% inflation? That's getting into Zimbabwe territory now.
Bacchus4.0
(6,837 posts)4. pero hay patria nt
COLGATE4
(14,732 posts)5. Toneladas de 'patria'. nt
Bacchus4.0
(6,837 posts)7. mas patria que comida nt
COLGATE4
(14,732 posts)8. Wouldn't take much patria at this pace...
GGJohn
(9,951 posts)6. It is growing worse by the day,
and the Ven. govt isn't socialist by any means, it's fast becoming a dictatorship.
Bacchus4.0
(6,837 posts)9. Its certainly not progressive by any means nt