Venezuela is on the brink of complete economic collapse, inflation at 720% - Polidicks

[t]http://imgkk.com/i/g5y6.jpg[/t] [url]http://www.independent.co.uk/news/world/americas/venezuela-on-the-brink-of-complete-economic-collapse-a6850861.html[/url] [quote]The only question now is whether Venezuela's government or economy will completely collapse first. The key word there is "completely." Both are well into their death throes. Indeed, Venezuela's ruling party just lost congressional elections that gave the opposition a veto-proof majority, and it's hard to see that getting any better for them any time soon — or ever. Incumbents, after all, don't tend to do too well when, according to the International Monetary Fund, their economy shrinks 10 percent one year, an additional 6 percent the next, and inflation explodes to 720 percent. It's no wonder, then, that markets expect Venezuela to default on its debt in the very near future. The country is basically bankrupt. That's not an easy thing to do when you have the largest oil reserves in the world, but Venezuela has managed it. How? Well, a combination of bad luck and worse policies.[/quote]

Hope our Venezuelan comrades here on FP can get the hell out of dodge with their families before its too late.

[quote]That's not an easy thing to do when you have the largest oil reserves in the world[/quote] Gotta admit, I'm impressed they managed this. Takes some serious skill to fuck up THIS bad.

What's incredible is that Venezuela actually loses more money from selling oil than they would without any. They subsidize domestic consumption at a massive loss (so Venezuelans can buy cheap gas), give out loads of free oil to their neighbours, a lot of it is siphoned off in corruption, and finally the low oil prices means they aren't even making much money off oil anymore now at all.

[QUOTE=Sobotnik;49673293]What's incredible is that Venezuela actually loses more money from selling oil than they would without any. They subsidize domestic consumption at a massive loss (so Venezuelans can buy cheap gas), give out loads of free oil to their neighbours, a lot of it is siphoned off in corruption, and finally the low oil prices means they aren't even making much money off oil anymore now at all.[/QUOTE] So they've got the largest supply of one of the most wanted and sought after commodities in the world, and they're LITERALLY giving it away even though it's by far their main source of income? That explains the bankruptcy. :v:

How about that socialism huh?

[QUOTE=Sobotnik;49673293]What's incredible is that Venezuela actually loses more money from selling oil than they would without any. They subsidize domestic consumption at a massive loss (so Venezuelans can buy cheap gas), give out loads of free oil to their neighbours, a lot of it is siphoned off in corruption, and finally the low oil prices means they aren't even making much money off oil anymore now at all.[/QUOTE] My mom has a picture of someone.... I shit you not, using gas to wash their car. Taken in Venezuela.

[QUOTE=Killuah;49673410]My mom has a picture of someone.... I shit you not, using gas to wash their car. Taken in Venezuela.[/QUOTE] I don't understand, why.

[QUOTE=wystan;49673404]How about that socialism huh?[/QUOTE] I think the issue here is the massive corruption and decades of silencing any critical opinion with either money or force. [editline]4th February 2016[/editline] [QUOTE=LSK;49673416]I don't understand.[/QUOTE] Saw someone at the petrol station literally showering the car in petrol.

[QUOTE=LSK;49673416]I don't understand.[/QUOTE] Gasoline is a solvent, and a pretty good one at that.

[QUOTE=wystan;49673404]How about that socialism huh?[/QUOTE] That's retardedness, not socialism.

[QUOTE=BuffaloBill;49673438]That's retardedness, not socialism.[/QUOTE] venezuela is socialist though like, their socialist policies are directly to blame for the state that the country is in

[QUOTE=Sobotnik;49673448]venezuela is socialist though like, their socialist policies are directly to blame for the state that the country is in[/QUOTE] Better yet, Maduro is a democratic socialist.

Honestly im really hoping the economy finally collapses so this corrupted goberment finally gets fucking kicked im SICK of living in a shit hole i just want things to start to get at least somewhat better.

[QUOTE=Trebgarta;49673462]Thats the name on the plate, but everything just reeks corruption. Ideology is not what failed here, as said, retardedness, incompetitivity, and cor-rr-ruption.[/QUOTE] they're made worst (or are the result of) socialist policies in venezuela though there is an economic minister in venezuela who literally claimed that inflation doesnt exist and is a capitalist plot does anybody remember when insulated western socialists kept claiming that venezuela was an example of socialism working in practice and how chavez was getting rid of poverty and opposing the imperialist usa

[QUOTE=Sobotnik;49673480]they're made worst (or are the result of) socialist policies in venezuela though there is an economic minister in venezuela who literally claimed that inflation doesnt exist and is a capitalist plot does anybody remember when insulated western socialists kept claiming that venezuela was an example of socialism working in practice and how chavez was getting rid of poverty and opposing the imperialist usa[/QUOTE] Don't get me wrong I also think that complete and boundless socialism doesn't work just like complete and boundless capitalism doesn't work but blaming this on Socialist principles is just as stupid as blaming inflation on a Capitalist plot.

[QUOTE=wystan;49673404]How about that socialism huh?[/QUOTE] there are so, so, sooooooo many other reasons for this other than just "socialism"

[QUOTE=Killuah;49673506]Don't get me wrong I also think that complete and boundless socialism doesn't work just like complete and boundless capitalism doesn't work but blaming this on Socialist principles is just as stupid as blaming inflation on a Capitalist plot.[/QUOTE] venezuela has been ruled by a party composed entirely of socialists, who have been working for years using socialist policies directly adapted from socialist thought with the goal of creating a socialist society. as soon as venezuela finally begins falling to bits, suddenly it is no longer the fault of the party and its ideology which has been in power for an entire generation, but due to the more nebulous concepts of corruption and incompetence, which in themselves stem from the failings of the socialist party and its policies there is cause and effect here, and it's patently obvious that the socialist policies in venezuela caused all of the problems now afflicting the nation

[QUOTE=Sobotnik;49673537]venezuela has been ruled by a party composed entirely of socialists, who have been working for years using socialist policies directly adapted from socialist thought with the goal of creating a socialist society. as soon as venezuela finally begins falling to bits, suddenly it is no longer the fault of the party and its ideology which has been in power for an entire generation, but due to the more nebulous concepts of corruption and incompetence, which in themselves stem from the failings of the socialist party and its policies there is cause and effect here, and it's patently obvious that the socialist policies in venezuela caused all of the problems now afflicting the nation[/QUOTE] are you saying socialism is inherently corrupt but capitalism isn't? Sometimes you interject the most unsolicited and useless opinions in the middle of reasonable posts.

Venezuela, get your shit together NOW. :/ [QUOTE=Killuah;49673410]My mom has a picture of someone.... I shit you not, using gas to wash their car. Taken in Venezuela.[/QUOTE] I wouldn't go as far as to use pump gas, but I've seen people using kerosene mixed with water on power washers, for degreasing super nasty cars and trucks. It works like a charm. [editline]4th February 2016[/editline] [QUOTE=werewolf0020;49673472]Honestly im really hoping the economy finally collapses so this corrupted goberment finally gets fucking kicked im SICK of living in a shit hole i just want things to start to get at least somewhat better.[/QUOTE] Agreed. :/

[QUOTE=wystan;49673451]Better yet, Maduro is a democratic socialist.[/QUOTE]Oh stop, it's clearly obvious what you're trying to get at with this.

[QUOTE=wystan;49673451]Better yet, Maduro is a democratic socialist.[/QUOTE] Venezuelan socialism and American socialism are two completely different things. But yeah, a lot of it has to do with corruption, stupid planning and spending, and just their economic system in general.

[QUOTE=Sobotnik;49673480]they're made worst (or are the result of) socialist policies in venezuela though there is an economic minister in venezuela who literally claimed that inflation doesnt exist and is a capitalist plot does anybody remember when insulated western socialists kept claiming that venezuela was an example of socialism working in practice and how chavez was getting rid of poverty and opposing the imperialist usa[/QUOTE] Social democracy uses capitalism as a mechanism though, which is why this is confusing me.

[QUOTE=HumanAbyss;49673593]are you saying socialism is inherently corrupt but capitalism isn't? Sometimes you interject the most unsolicited and useless opinions in the middle of reasonable posts.[/QUOTE] im saying these socialist policies are failures. i dont get why this should translate into support for "capitalism" which isn't even a political ideology in itself

[QUOTE=Sobotnik;49673537]venezuela has been ruled by a party composed entirely of socialists, who have been working for years using socialist policies directly adapted from socialist thought with the goal of creating a socialist society. as soon as venezuela finally begins falling to bits, suddenly it is no longer the fault of the party and its ideology which has been in power for an entire generation, but due to the more nebulous concepts of corruption and incompetence, which in themselves stem from the failings of the socialist party and its policies there is cause and effect here, and it's patently obvious that the socialist policies in venezuela caused all of the problems now afflicting the nation[/QUOTE] Yea. Just like the country working before was not the result of the ideology.

[QUOTE=HumanAbyss;49673593]are you saying socialism is inherently corrupt but capitalism isn't? Sometimes you interject the most unsolicited and useless opinions in the middle of reasonable posts.[/QUOTE] Capitalism isn't inherently tied to governmental power like socialism is. So, sure, both will have corruption, but at least the government can work as a third party oversight body for capitalistic corruption whereas there is no oversight above the government to keep its corruption under control.

[QUOTE=sgman91;49673655]Capitalism isn't inherently tied to governmental power like socialism is. So, sure, both will have corruption, but at least the government can work as a third party oversight body for capitalistic corruption whereas there is no oversight above the government to keep its corruption under control.[/QUOTE] Sure I'm not arguing with the concept that's being implied here, I agree with you on the oversight issue. Just from the way it's phrased, it's a ridiculous statement to me.

[QUOTE=JoeSkylynx;49673268]Hope our Venezuelan comrades here on FP can get the hell out of dodge with their families before its too late.[/QUOTE] I wish I could but getting enough money to leave is fucking difficult since bolivares are worth less and less every day, and I can only get paid in bolivares here, that coupled with my university education being interrupted by constant strikes is really starting to ruin my goal of moving abroad. I've been applying for outsourced jobs but the market is really competitive. [QUOTE=BuffaloBill;49673271]Gotta admit, I'm impressed they managed this. Takes some serious skill to fuck up THIS bad.[/QUOTE] And there's still people who support them.

[QUOTE=HumanAbyss;49673691]Sure I'm not arguing with the concept that's being implied here, I agree with you on the oversight issue. Just from the way it's phrased, it's a ridiculous statement to me.[/QUOTE] well ultimately it's still the main reason that venezuela is in the state that it is in right now a more sensible party in the center would still undoubtedly have corruption as is usual in such nations (not to mention general incompetence and the like), but at least the economy would be functioning, there would be less poverty, healthcare would be better, less hunger and malnutrition, much less crime, etc. a lot of people still wouldn't be wealthy and you'd have large inequality, but that's not much different from the case right now anyways

[QUOTE=Killuah;49673647]Yea. Just like the country working before was not the result of the ideology.[/QUOTE] It wasn't working before. The system flat out doesn't work if its heyday and lowest point coincide exactly with the highest and lowest market valuation of oil prices. The economic crisis that Venezuela is facing has everything to do with the government seemingly wanting to ignore markets exist...While still embracing the fact that oil prices fluctuate because of supply and demand.