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Venezuela latest crisis: Running out of zeroes |
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#1 |
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Location: Edinburgh
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Venezuela latest crisis: Running out of zeroes
We haven't had a Venezuela thread for a while, but that's not because things are getting any better. The latest crisis: there aren't enough zeroes on the national currency to keep up with current hyper-inflation, so people have to carry around massive packages of notes in order to buy anything, and people weigh the notes instead of counting them.
http://www.independent.co.uk/news/wo...-a7443596.html But don't despair, Socialist Brothers & Sisters!!! The Government are going to take decisive action to fix the problem. They're going to print more, higher denomination bills. That has always worked in the past. http://www.dw.com/en/venezuela-to-in...maca=en-tco-dw Here's a roundup of some previous Venezuelan crises. The beer crisis http://www.dw.com/en/supply-shortage...ion/a-19226196 The clothes ironing crisis http://www.dw.com/en/venezuela-resor...sis/a-19214450 The surgical gloves crisis https://www.theguardian.com/world/20...celona-caracas There is some good news, though. Take the toilet paper crisis from last year - that has already been partly solved, if only they could afford glue to stick the banknotes together. Or staples would do the job nicely. But don't worry, Comrades, all will come out right in the end and Bolivarian Socialism will triumph over these wicked plots!! Jeremy Corbyn says so! https://twitter.com/jeremycorbyn/sta...992?lang=en-gb And so does Diane Abbott! https://www.youtube.com/watch?v=vBErk_QqRMo |
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#2 |
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Join Date: Nov 2016
Posts: 328
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Quote:
We haven't had a Venezuela thread for a while, but that's not because things are getting any better. The latest crisis: there aren't enough zeroes on the national currency to keep up with current hyper-inflation, so people have to carry around massive packages of notes in order to buy anything, and people weigh the notes instead of counting them.
http://www.independent.co.uk/news/wo...-a7443596.html But don't despair, Socialist Brothers & Sisters!!! The Government are going to take decisive action to fix the problem. They're going to print more, higher denomination bills. That has always worked in the past. http://www.dw.com/en/venezuela-to-in...maca=en-tco-dw Here's a roundup of some previous Venezuelan crises. The beer crisis http://www.dw.com/en/supply-shortage...ion/a-19226196 The clothes ironing crisis http://www.dw.com/en/venezuela-resor...sis/a-19214450 The surgical gloves crisis https://www.theguardian.com/world/20...celona-caracas There is some good news, though. Take the toilet paper crisis from last year - that has already been partly solved, if only they could afford glue to stick the banknotes together. Or staples would do the job nicely. But don't worry, Comrades, all will come out right in the end and Bolivarian Socialism will triumph over these wicked plots!! Jeremy Corbyn says so! https://twitter.com/jeremycorbyn/sta...992?lang=en-gb And so does Diane Abbott! https://www.youtube.com/watch?v=vBErk_QqRMo Every person I met so far with socialist values is actually pretty clued up so how the hell are the dumb and the stupid the ones that make it to the top. |
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#3 |
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Join Date: Sep 2014
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"Venezuela is a market based mixed economy" is the usual response to this
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#4 |
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Join Date: Apr 2015
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Given that hyper inflation has happened in capitalist countries, and the vast majority of socialist countries haven't suffered hyper inflation, I think it's safe to blame Venezuela's unique situation and its lousy President, rather than socialism.
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#5 |
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Join Date: Jul 2003
Location: Pimlico, central London, UK
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Is Owen Jones still praising this regime to the rooftops?
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#6 |
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Join Date: Sep 2014
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Quote:
Given that hyper inflation has happened in capitalist countries, and the vast majority of socialist countries haven't suffered hyper inflation, I think it's safe to blame Venezuela's unique situation and its lousy President, rather than socialism.
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#7 |
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Location: Leafy London
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Quote:
Given that hyper inflation has happened in capitalist countries, and the vast majority of socialist countries haven't suffered hyper inflation, I think it's safe to blame Venezuela's unique situation and its lousy President, rather than socialism.
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#8 |
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Join Date: Jun 2016
Posts: 719
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Well at least they aren't reduced to buying bread by handing the baker a note and he cuts out a shape the size of that note.
Probably because they haven't got any bread either. |
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#9 |
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Join Date: Sep 2014
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Quote:
Given that hyper inflation has happened in capitalist countries, and the vast majority of socialist countries haven't suffered hyper inflation, I think it's safe to blame Venezuela's unique situation and its lousy President, rather than socialism.
It's therefore refreshing to find a socialist who seems to believe that there are-have been socialist states in the world. And not only that, but enough such states to qualify for a "vast majority" for comparison purposes. So in order to expand debate on this interesting topic do you care to elaborate as to which socialist states (country and time period) you believe have avoid hyperinflation? It is the vast majority after all. |
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#10 |
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Join Date: Nov 2016
Posts: 216
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Using people's suffering for political point scoring.
Classy. |
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#11 |
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Join Date: Sep 2014
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Using people's suffering for political point scoring.
Classy. Truth. |
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#12 |
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Join Date: Nov 2016
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Like you care about their suffering. Probably grinning like a child in a sweet shop every time a Venezuela story pops up on your news feed.
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#13 |
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Join Date: Aug 2000
Location: Edinburgh
Posts: 23,319
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Quote:
Given that hyper inflation has happened in capitalist countries, and the vast majority of socialist countries haven't suffered hyper inflation, I think it's safe to blame Venezuela's unique situation and its lousy President, rather than socialism.
Us right-wing knuckle-draggers knew as long as fifteen years ago that the brave Bolivarian Socialist Revolution was only being sustained by artificially high oil prices and that the whole country would end up like a cross between The Walking Dead and 1984 about a week after oil prices went down, so how come no Socialist realised it? |
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#14 |
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Is Owen Jones still praising this regime to the rooftops?
https://venezuelanalysis.com/analysis/10430 |
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#15 |
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Like you care about their suffering. Probably grinning like a child in a sweet shop every time a Venezuela story pops up on your news feed.
Travelling to Caracas to organise a soup kitchen? Raising awareness of the human rights abuses of the brutal repressive Socialist regime? Raising money for the poor? (How much so far?) Or caring..... |
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#16 |
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Quote:
Using people's suffering for political point scoring.
. |
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#17 |
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Join Date: Jan 2011
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The crisis is nothing to do with socialism.
Oil revenues made up 95% of the countries exports. The price of oil collapsed and the government started printing money in response, causing the hyper inflation. The system of government is irrelevant. The problem is having an economy so reliant on a single product. |
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#18 |
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I think that's mainly because there's nothing to buy. Where are all these socialist countries, btw?
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#19 |
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Quote:
Oil revenues made up 95% of the countries exports. The price of oil collapsed and the government started printing money in response, causing the hyper inflation. The system of government is irrelevant. The problem is having an economy so reliant on a single product. |
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#20 |
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Well Norway, Sweden, Denmark, and Finland all spring to mind. They all score very highly in lots of inter-country league tables especially on quality of life.
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#21 |
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They've been in control for 18 years. At any time during that period when oil revenues were high, they could have reinvested the profits into other enterprises. Instead they used them to buy themselves short-term popularity with the urban working classes. In fact, they didn't even save enough money to keep the oil infrastructure in good nick, so now they have the quadruple crisis of declining prices, declining yields, more expensive extraction costs and people in charge who are utterly pig-ignorant of the basic principles of real world economics. And who suffers the most? The very urban working classes they pretend to be so concerned about.
Norway is a largely socialist country and they saved a massive fund from their oil wealth. |
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#22 |
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Wait a second, you are just after saying that socialism can't be blamed for Venezuela's failure because it is so heavily dependent on oil. Isn't Norway, which you are now holding up as an example of successful socialism, also heavily dependent on oil?
The difference is Norway has used its oil wealth wisely. Again its not really to do with socialism, just economic competence. |
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#23 |
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The difference is Norway has used its oil wealth wisely. Again its not really to do with socialism, just economic competence.
What does it say about the cream of western Socialists that they all so completely misunderstood what was in fact a slowly-unfolding humanitarian disaster? |
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#24 |
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What does it say about the cream of western Socialists that they all so completely misunderstood what was in fact a slowly-unfolding humanitarian disaster?
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#25 |
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Well Norway, Sweden, Denmark, and Finland all spring to mind.
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