Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Latin America
Related: About this forumA Day Out at the Black Market in Venezuela
https://panampost.com/editor/2016/04/03/a-day-out-at-the-black-market-in-venezuela/For three years in a row, Venezuela has reported the highest inflation rate in the world. The reported rate is 186 percent, though independent estimates range from 400 percent (by Johns Hopkins economist Steve Hanke) and 720 percent, a projection by the International Monetary Fund.
Single mom Noslen Ramos queues up daily outside state supermarkets in the western city of Maracaibo, which is two hours from her home. She is a mother of three and sells empanadas on the street for minimum wage.
----------
Its common to sleep in line, Ramos said. If we come at five in the morning, theres already a big line. The people in the front, they probably slept here.
------------------
They expropriate the majority of the sugar companies, and you cannot find sugar, Luis Vicente Leon said. They expropriate coffee companies in Venezuela, and you cannot find coffee. They expropriate Owens-Illinois, and we cannot find packages.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
4 replies, 839 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (1)
ReplyReply to this post
4 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
A Day Out at the Black Market in Venezuela (Original Post)
Bacchus4.0
Apr 2016
OP
Not according to Mark Weisbrot. He said inflation was halted and the black market rate
Bacchus4.0
Apr 2016
#2
COLGATE4
(14,732 posts)1. This is just a snapshot of the living hell Chavez's
Venezuela has become for most Venezuelans (except those connected with the government, of course). Without exaggeration they're rapidly approaching Zimbabwe economic statistics, rushing to become a failed state.
Bacchus4.0
(6,837 posts)2. Not according to Mark Weisbrot. He said inflation was halted and the black market rate
stabilized. Who you gonna believe? Mark Weisbrot and JL, or reality?
COLGATE4
(14,732 posts)3. Well, remember that Maduro's new Finance Minister
was on record for saying that 'inflation doesn't exist'
Bacchus4.0
(6,837 posts)4. He's gone already. Lasted a month nt