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Venezuela in “economic emergency”: Q3 inflation 141.5% and GDP down 7.1%

Saturday, January 16th 2016 - 10:58 UTC
Full article 16 comments

Venezuelan President Nicolas Maduro's government has decreed a 60-day “economic emergency” for the recession-hit OPEC nation reeling from low oil prices and a sputtering state-led economic model. The government on Friday also published the first macroeconomic data for more than a year, showing GDP dropped in the third quarter while inflation surged. Read full article

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  • ChrisR

    Terrible as these figures are, are they believable because it seems that they are on the low side given the photographic evidence?.

    What do you think, Ilsen?

    Jan 16th, 2016 - 12:39 pm - Link - Report abuse 0
  • yankeeboy

    Rumor is oil is goign to bottom around U$10.

    Famine in Venezuela is assured.

    Socialism is stealing everyone else's money and this is the perfect example of what happens when it runs out.

    Jan 16th, 2016 - 01:30 pm - Link - Report abuse 0
  • ElaineB

    'Rumor is' Ha! It has been glaringly all over the media, hardly an insider rumour. It is a political battle not an economic one.

    Venezuela is in a terrible state. Get rid of Maduro and we could see help arriving pretty quickly for the people there. No one wants to watch people starve, unless you are a heartless psychopath. Oh, wait. Sleazyboy does.

    Jan 16th, 2016 - 06:42 pm - Link - Report abuse 0
  • yankeeboy

    The majority of the people chose this gov't time and again.
    Knowing Collectivism always ends in famine and violence.

    A little mass starvation may be just what it needed to finally bring this nightmare to a close.

    Jan 16th, 2016 - 07:39 pm - Link - Report abuse 0
  • ElaineB

    So they deserve to die for it? You do know that is what starve means. It isn't you feeling a bit peckish because you haven't had your daily Big Mac and Fries.

    What about the Venezuelans who didn't vote for Chavez, do they deserve to starve? The children without a vote?

    Jan 16th, 2016 - 08:09 pm - Link - Report abuse 0
  • yankeeboy

    What about the chiiiilllldreeeeen...whaaaa whaaaa whaaa

    the progs always scream that when they've tried everything else

    emotions don't win arguments.

    https://www.youtube.com/watch?v=Qh2sWSVRrmo

    Jan 16th, 2016 - 08:13 pm - Link - Report abuse 0
  • ElaineB

    @6 You can't answer the question can you, Sleazyboy?

    Jan 16th, 2016 - 08:24 pm - Link - Report abuse 0
  • yankeeboy

    Is the question does everyone deserve misery from the disastrous Collectivist policies they voted for time and again?

    Yep.

    There are consequences for bad judgement.
    How else do you learn?

    Touch a hot stove you get burned
    You probably won't touch it again
    lesson learned

    Bitter Troll, you can't shame me for my core beliefs.
    Ya just can't....

    Jan 16th, 2016 - 08:34 pm - Link - Report abuse 0
  • ElaineB

    @8 Oh, you are rotten to the core and there is no helping you develop a conscience. I just like teeing you up so you expose your disgusting views for everyone to see.

    You jump every time I tell you to.

    Jan 16th, 2016 - 08:48 pm - Link - Report abuse 0
  • yankeeboy

    Yes Troll, As I said I answer questions truthfully every time.

    I am not embarrassed of my beliefs because I am very sure they are correct.
    They've been proven correct throughout history.
    Unlike yours

    Fraud, you pretend to care.
    but all you do is whine
    and try to shame people into your failed ideals.

    Bitter
    Fraud
    Troll

    Jan 16th, 2016 - 08:52 pm - Link - Report abuse 0
  • Great Britain

    In simple terms it's a case of cause and effect - if you oppose the cause and accept the effect as inevitable then the effect may be palatable so long as it serves to remove the cause - that is why yankee can accept catastrophic failure and its short term humanitarian effects if it serves to a) effect political change and b) make the arguments against socialism that bit more tangible to the common man for whom more examples of that system's abject failure carry more weight than abstract political arguments. Stating a systemic collapse causes humanitarian effects (such as famine) ignores the fact that the two are symbiotic elements of the same dysfunctional system - because that particular system is very good at dealing with the pervasive daily misery it causes and so requires major events to be brought to its timely end.

    In other words - there is no moral issue and no one wants to see people starve any more than the want to see more socialist governments..

    Jan 18th, 2016 - 10:53 am - Link - Report abuse 0
  • ChrisR

    @ 11 Great Britain

    Excellent post.

    Jan 18th, 2016 - 12:09 pm - Link - Report abuse 0
  • yankeeboy

    11. But Elaine thinks I mean.
    I haven't slept all weekend thinking about it and maybe having to change my CORE BELIEFS to accommodate her emotions.

    Bahahahaha

    Elaine is nothing more than a bitter troll.

    Jan 18th, 2016 - 12:56 pm - Link - Report abuse 0
  • Lucdeluc

    @11. Yes, good post

    Jan 19th, 2016 - 12:23 pm - Link - Report abuse 0
  • CapiTrollism_is_back!!

    @11

    Too bad you don't follow your own advice. You EUians and NorthAmoans keep bailing out your banks time and time again, and simultaneously keep printing cheap money via negative interest rates. Instead of biting the bullet in 2012, 2008, 2001, and before, you just let the failures survive, and inflate your way out of it.

    Well, one day there won't be enough money to bail out anyone, and certainly there is no more monetary room left. If a crisis hit today, what would the FED and ECB do to stimulate people's and business demand? Offer cheaper money? Bwahahaha.

    When the next crisis hits, it will be the accumulated neglect of all the past crises and all the times you kicked the can down the road and failed to take the bitter medicine before. When that hits, there is no salvation for Europe or North America or Japan.

    Jan 22nd, 2016 - 03:09 pm - Link - Report abuse 0
  • Great Britain

    This is the argument and while I agree that QE/ZIRP and NIRP are all abominations of a free market, there isn't going to be much difference in terms of the impact on creditor nations or debtor nations - is China honestly in a better position being almost exclusively reliant on exports? The financial engineering isn't exclusive to the West either - stimulus has been applied in virtually every nation that has a central bank to some extent and while there will be currency devaluations they are going to be so universal that the net effect is going to be a global debt write off - on paper it looks like Armageddon is coming but it will be be a zero-sum game.

    Jan 23rd, 2016 - 11:38 pm - Link - Report abuse 0

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