Venezuela sets 'economic emergency,' reveals depth of crisis

[muriel_volestrangler]

Source: Reuters

Venezuela's socialist government decreed an "economic emergency" on Friday and published the first data in a year showing the depth of a recession fueled by low oil prices and a sputtering state-led model.

The central bank, which has been lambasted by critics of President Nicolas Maduro's government for hiding statistics since the end of 2014, said the South American OPEC nation's economy shrank 4.5 percent in the first nine months last year.

Inflation soared in that period to an annual rate of 141.5 percent: the world's worst.
...
The government's decree, which the opposition-led assembly says it has the power to approve or reject, sets a 60-day "economic emergency" and would give Maduro wider powers to intervene in companies or limit access to currency.



Read more: http://uk.reuters.com/article/us-venezuela-economy-idUKKCN0UT2ER

[MADem]

1. It is a dictatorship now. A mockery of itself.

The only question is "Who will knock Maduro over?" Because someone will, quite possibly.

I wouldn't be surprised if one of Chavez's old buddies makes the play.

[christx30]

2. "a 60-day "economic emergency" and would give Maduro wider powers to intervene"

Because that's the one thing that Venezuela needs right now. More power for Maduro.
Honestly, what could he do in that time that he hasn't been able to do in the last 2 years?

[7962]

3. If only the CIA would leave them alone, the "revolution" could succeed!!

Because obviously 16 years isnt a long enough time frame to see if it will be a miserable failure. Like it is now. And has been.

[rwsanders]

17. I think this is why our gas prices are so low. We're trying to bankrupt

left leaning governments in central and south America and ensure they stay under our "sphere of influence". I think that is why we allowed the Saudis to tie their money to ours, to cushion the blow while we take down Venezuela.

[betterdemsonly]

19. I agree. That is what the game is.

They also want to bankrupt the move to EV cars and Putin in Russia, because he is undermining the Isis caliphate.

[Marksman_91]

20. You DO know that 7692 was being sarcastic, right?

He doesn't believe in the nutty notion that the falling oil prices are an attempt to bankrupt Russia and Venezuela. Remember that this fall affects Big Oil USA as well, and they sure as hell don't want to be selling cheap oil.

[7962]

21. And sensibility returns to the board!

[rwsanders]

24. Get back to me after the bailout. It just hasn't affected any CEOs yet.

But I'll have to say it must be nice to live in a world where everything is sunshine and puppies and there are no one scheming in OUR government.

[Travis_0004]

26. If I can fill up my SUV for 1.50 a gallon, then I'm with a few dictators also being overthrown.

[snooper2]

44. Yes, because President Obama has a fuck to give about Venezuela LOL

I know he has a number of fucks left to use over the year, but pretty sure this isn't one of them

[rwsanders]

45. Why do you think it has to be Obama? You really believe the government is so simple and monolithic

as to be entirely under the control of one man?

[Tarheel_Dem]

4. If reports are true, it doesn't sound as if Brazil is faring much better. The BRICS relied heavily..

on China to keep buying up endless supplies of raw materials & commodities, and we see where that's headed. Russia's economy sucks as well, so this is going to have a huge impact on those dependent economies who have failed to diversify. Ironically, India seems to be picking up steam.

[Archae]

5. Soon, we'll see, "For the duration of the emergency El Presidente will have sweeping powers to jail

"...anyone opposed to the glorious socialist failure...I mean revolution..."

Hello, military coup and crackdown on freedom of speech, and such.

[ripcord]

8. It is pretty sad when you are searching the horizons for a military junta.

[Archae]

9. I'm not searching, I'm expecting.

Unless Maduro first declares himself "El Presidente For Life."

Then jails and "disappears" any opposition.

[ripcord]

15. Oh I agree

Almost any change is going to be for the better, at least in the short term. I expect Maduro and his cronies to skip the country and I am sure they have already made sure large sums of cash will be available.

[scottie55]

6. The Chavistas Will Steal All They Can

On their way out.

Just like they have been stealing everything in sight for years.

Good news is someday it may be safe to visit Venezuela again....

[scottie55]

7. Maybe Maduro Will Nationalize More Companies

And put more idiot thieves in charge of them.

Just like the last ones.

[Judi Lynn]

11. Everyone knows Venezuela's natural resources by right belong to US corporate CEO's & stockholders.

Not the employees, they're just trash, poor people, born poor, without the benefits cool, well turned-out, well-connected people enjoy, but to the officials and major stockholders.

Yep, it's allllll ours. Oh, the traitorous sell-out oligarchs in Venezuela get some crumbs, too.

[Marksman_91]

12. Your delusional theories invented by the Chavista propaganda BS machine are no longer credible

Understand that we're in the real world, and when an oil-rich country has the largest inflation rate in the world, it's not because of some nutty conspiracy that the CIA or the US government itself (understand that this means you're also accusing the Obama administration of also playing this game) is trying to "sabotage" the economy (despite the fact that the Ven. government controls most means of production and transportation,) it's because it's ruled by the most corrupt and kleptomanic band of thieves that that country has EVER had.

But hey, whatever makes you sleep easier at night, I guess.

[rwsanders]

18. For you I'd recommend the book "The Imperial Cruise" by James Bradley.

it shows the source of this idea that dark skinned people can't run their own country effectively. And L. Fletcher Prouty's book on JFK's assassination shows how this myth has been used to cover U.S. interference in foreign countries in the past.

[7962]

22. More conspiracy BS. And why would Venezuelans be considered "dark skinned" anyway?

That tired horse has been beat to death the past 40 yrs.
Put the blame where it belongs; the people who have been running the show for over 15 years.

[rwsanders]

25. Better than your racist BS

[7962]

27. Ahh yes, fall back on the same tired bullshit

Even though nothing I posted was remotely "racist".
Guess thats what one does when facts fail them. And the FACT is, the venezuelans have been in charge for over 15 years. But the ones in charge are more corrupt than the ones they replaced. And the country goes down the toilet without any paper to wipe.
Sorry you cant handle the truth. But the people will one day soon regain control of their country, much to your chagrin apparently.

[rwsanders]

30. You won't even look at the truth, so don't go all high and mighty.

You sound like a child trying to explain things they don't understand. Just like the folks that complain about welfare without realizing the racist source of the propaganda started by Atwater. This idea that those lesser people groups can't run their own affairs has a long racist source that is quite thoroughly documented in the James Bradley book "The Imperial Cruise" and you can read about the outcome in "Bury My Heart At Wounded Knee", "War is a Racket" by Smedley Butler, and "JFK" by L. Fletcher Prouty,
OR
you can continue to sound like a fool.

[7962]

31. You bring up Kennedy conspiracies & Wounded Knee,

when the subject is the incompetence and corruption of the Venezuelan government. Which was NOT put in place by the US or anyone else. I never said the Venezuelans couldnt run their own country, just that the current bunch is running the country into the ground. Nothing I've said is incorrect, and you resort to insults as in your other posts. Because thats all you really have.
Keep seeing that racist behind every tree and around every corner. What a sad existence for you. I see the true fool.

[rwsanders]

39. and you are ignoring the fact that there could be outside influence as you want to live in a world..

of sunshine and puppies.
So go ahead, I won't bother you any more and I don't have time for someone so fatuous.
So say what you want in your reply, I won't see it. Full ignore.

[7962]

40. Of course, use "ignore" when you cant handle the truth.

Childish, but normal for some of the weaker viewpoints around here

[Marengo]

34. The Chavistas have no responsibility whatsoever for the economic crisis?

[rwsanders]

38. I wouldn't say no responsibility, but I wouldn't put any of the other manipulations outside...

of the realm of possibility as it has happened before and it is well documented.

[Bacchus4.0]

43. They have full responsibility. All of the economic policies are their's and relying on oil 100%

has spelled disaster.

[metalbot]

41. It's not that Venezuelans are ethnically unable to run companies

The issue is that profitably running a company is really hard, and in the oil industry requires really talented logistics, engineering, and finance teams. There's no reason that people from any ethnicity can't play all of those roles. The problem is, you need to learn those roles, and not simply be dropped into them.

As an analogy, after Bush invaded Iraq, we fired and banned from government anyone who was associated with Saddam's party. This, of course, meant that everyone with any administrative skill was immediately fired. We saw the results of that in years of war, and the emergence of ISIS. Does that mean that "Iraqi's aren't capable of running their own country?" Of course not - it means that you got rid of all the people who knew how, and then paid the price.

Venezuela is going through much the same thing, and the CIA/oligarchs/illuminati/pick-your-boogeyman don't need to do a thing - Chavez set up a system that would implode all by himself.

[rwsanders]

46. Maybe, but I don't ever view simple answers as complete anymore. For example let's look at where

we are in the good ole U.S. of A. We don't exactly have a functioning system right now, and there are many factors why. You could cateorize them as poorly informed electorate, corruption, foreign influence and probably add a dozen more. Many of those intersect, interact, whatever. That is if it wasn't for corruption, foreign schemes might not be so much of a factor, etc. So trying to figure out which is the biggest influence isn't as easy as putting a label of internal failure.
Even with the facts that you list, if the U.S. wasn't so concerned about the left leaning governments of central america and being excluded from the role of regional superpower, Venezuela might not have taken that step, or if they did, they may have been inclined to hire consultants to help them get up to speed. Who knows?
But sadly the view that our government continues to sell to the poorly informed populace is that all those other countries need us because they can't do things on their own. And that view does have a history in our racist past that included the view of "Manifest Destiny".
I'm sad for Venezuela though, I had a couple of friends from there, and I hope they are well.

[Marksman_91]

48. Wonder if your friends from Venezuela would agree with all your conspiracies n/t

[rwsanders]

50. Oh I'm sure of it.

You wouldn't believe how those from what we call the "developing world" think of the U.S. and other "Western" powers. I roomed with a guy from Kenya for 3 years. Guess what, they're not as ignorant as people here want to think or people here choose to be. It was these interactions that taught me to take a closer look.
By the way, 2 news items came out since this discussion-
Venezuela is trying to talk to Saudia Arabia about controlling oil prices, but Saudia Arabia is looking at INCREASING production.
I'm sure you can label anything else that bothers you as a "conspiracy theory"; hell, if it hadn't been exposed, you and others would be saying the same thing about Watergate and Iran/Contra.
So don't bother me with a reply, I'll do you the courtesy of a full ignore and you can do the same for me so we both can continue to enjoy this site.
So try again "Khan" about 50 seconds in:

Bye.

[Judi Lynn]

42. Bolivia is a prime example of out of control racism, with European descended whites

descended from the invaders, and later, as late as the 1960's, under Hugo Banzer, throwing indigenous people off their ancestral land and giving it to white settlers from South Africa.

Here's a thread posted years ago about a US Montana rancher who went to Bolivia, Ronald Larsen, as a Peace Corps "worker" and ended up owning vast land holdings and using the people who had lived on that land as slaves.

[center]

Ronald Larsen[/center]

His son, who was a fraternityboy at Wyoming, shared his exalted opinion Bolivia's first indigenous President, Evo Morales, was stupid, uneducated, shouldn't be President. Other white Bolivians refer to the majority of people, mostly Aymara, or Guarani people, as "llama abortions," and often call the President "that ####ing Indian."

[center]

Duston Larsen, Ronald Larsen's son, who
worked as a model, and was a "Mr. Bolivia."[/center]

Indigenous people were NOT allowed to walk on the sidewalks until after a revolution in 1952. They were also not allowed to vote.
Bolivia has been deemed more racist than even the US American South was, as unbelievably filthy as that would have to be.

Fascist white youth in the Santa Cruz area drive cars, trucks, etc., some emblazoned with swastikas on them, into indigenous Bolivian neighborhoods and beat the citizens wildly, just to keep them terrified, living in fear. Sometimes they kill them.

[center]













http://www.katari.org/imagenes/brad/auto



[/center]

Here is a thread someone might find helpful about the US rancher, and (shudder) former Peace Corps worker, Ronald Larsen, and his hideous presence in a country which belongs to the people of Bolivia:

Bolivia seeks charges against Montana rancher, son
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3274980

Thank you for your presence at D.U. You should know you are appreciated here by many for your clean conscience, and good heart. That's something which can't be faked, and it distinguishes you from fascists in a flash! You are respected.

[7962]

23. Even when EVERYTHINGS been seized, its STILL our fault.

For FIFTEEN years they've had control. And yet the failure is STILL our fault. Its just freakin amazing

[EX500rider]

14. You mean because what they are doing now is working so well?? lol

Venezuela’s official statistics office (INE) mostly spends its time producing reports charged with political language — but it still manages to report actual data once in a while. A few weeks ago, the statisticians published proof that one in three Venezuelans are poor, when twelve months ago the figure stood at one in four.
Roughly 6 percent of all Venezuela’s 30 million people became poor in the last year alone. The situation is even direr when one looks at extreme poverty, i.e., the number of people whose income cannot even buy a representative basket of food and drink. In the last year alone, the number of extremely poor Venezuelans rose by 730,000. They now reach close to three million people, or roughly 10 percent of the population.

http://foreignpolicy.com/2014/06/04/poverty-shoots-up-in-venezuela/

[christx30]

16. The resources belong to Venezuela.

But the equipment that was brought in (at the request of the Venezuelan government) belonged to other countries. It did belong, that is, until soldiers came and said "Your pump? No, my pump".

[enid602]

29. value of employees

So why have most employees in Venezuela been pressured to sign oaths of allegisnce to keep their jobs?

[Bacchus4.0]

37. Actually, that is exactly what he proposes to do.

http://www.bbc.com/news/world-latin-america-35329617


The Venezuelan government has announced a 60-day economic emergency to deal with the country's worsening crisis.

If passed by the National Assembly, it would give the president wider powers to intervene in companies or limit access to currency.

The edict includes tax increases and puts emergency measures in place to pay for welfare services and food import

[FLPanhandle]

10. Economy shrank by 4.5% and a 141.5% inflation are only the official Maduro numbers

True inflation was running at over 700%, and with the collapse of oil prices combined with Maduro's fixed currency exchange and nationalizing any company he wants, I bet the recession is far worse than just 4.5% too.

[Marksman_91]

13. But please let's keep blamin the US "empire" and the "war" being waged through its opposition agents

I mean, it's gotta be the cause of the country's economic crisis, right? No way that it's due to the government's excessive corruption and/or total incompetence, right? I mean, they all claim to be true socialists, there's NO WAY in hell they could be the ones responsible for the crisis.

[7962]

28. Apparently you're a racist now if you point that out.

[COLGATE4]

32. They're down to the last, feeble excuse now, since the fiction

they've been peddling (that Venezuela's economic failure is due to economic 'sabotage' from shady forces, probably the CIA and other unsavory characters) has been shown to be just that- fiction. There's no longer any plausible way to cover the fact that these clowns have been running the show for 15 years now in Venezuela, driving it from one of the richest countries in Latin America to the Latin equivalent of Zimbabwe, so they turn to the old, tried and true 'racist' canard. Anyone who dares comment on the far-too-apparent failures of Chavismo and Chavez's hand-picked successor Maduro is obviously a racist, one who doesn't believe in the nobility of the 'little brown-skinned people' to 'run their own country'. It would be laughable if it weren't so pathetic to see these people desperately clinging to the sinking ship of Chavismo as it slips beneath the economic waves thanks in no small part to the absolute incompetence of Chavez and his cronies.

[7962]

35. You're a much better wordsmith than I!

I blame TV & movies. Every year we see productions where a CIA-like shadowy agency is pulling all the strings in the backround of every bad event going on in the world or trying to destroy the ONE person whois trying to put a stop to it. They see it so many times "X Files", all the "Bourne" movies, the "Colony", "Scandal", the list is so long. So they start to believe that its really true. Look at the "truthers", any evidence showing that their theories are full of crap is dismissed as "Faked by the CIA"

[PersonNumber503602]

47. To be fair, it doesn't help that the CIA does in fact do some shady stuff...

I believe their official motto is "We do shady shit for the lulz AYY LMAO" I prefer to see real supporting evidence before I blame them though.

[7962]

49. Oh, of course they do. I'm GLAD they do. But they're not all-powerful.

Thats what I refer to regarding people falling for the movie/tv descriptions. Usually the CIA isnt even mentioned or its some other group thats way deeper than the CIA

And yes, when theres evidence they're behind something i'll hand them the blame as well

[Archae]

33. I keep seeing this, in our own ranks.

Somebody is anti-US or left wing, and he or she is the best thing since sliced bread!

I saw it with a guy who was said to be anti-Shah of Iran, his name was the Ayatollah Khomeni.
I did notice his religious fanaticism, but the cheerleaders for him ignored that.
He gets into power, lets his goons take American hostages and supports taking the Middle East back to the Dark Ages.

I saw it with Yassir Arafat, he had his opponents jailed or lynched, and stole BILLION$ of dollars in Palestinian aid.

I saw it with Zimbabwe's Mugabe.

Now I see it in the Maduro can do no wrong phanbois.

[7962]

36. +1000