Just How Bad is it in Venezuela?


Author Bio.

Life in the South American country of Venezuela is not good. Last summer, on July 30, 2017, Venezuelans voted in a new legislature called the Constituent Assembly. Its 545 representatives replaced the former National Assembly, controlled by those opposed to the government of President Nicolás Maduro.

The new political organization is expected to rewrite the 1999 constitution which, among other things, lengthened presidential term limits and permits indefinite re-elections. Opposition supporters say the new ruling body will erode democracy even further, and have been staging violent public protests against this legalized tyranny.

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In the past three months, at least 75 people have died in the civil unrest.

Venezuela’s National Assembly has not brought home a very good report card. Inflation spiked 454 percent after three months of the new law-making system. Reuters reported earlier this month:

“The country is undergoing a major crisis, with millions of people suffering from food shortages, hyperinflation and a currency that weakens significantly every day.”

In fact, as of the fall of 2017, the Venezuelan bolivar has lost over 99 percent of its value over the US dollar since Maduro took office in 2013.

Venezuela experienced an unbelievable 6,147 percent inflationary rate in the 12 months from February 2017 to 2018. Prices rose a staggering 80 percent in February alone.

The National Assembly indicated that the country entered a state of hyperinflation – when the prices of goods and services rise more than 50 percent a month – at the end of 2017.

Ironically, oil-rich Venezuela has seen production outputs drop dramatically since 2011. Reuters points out that the OPEC member nation has been purchasing foreign crude oil to supply its political allies “such as Cuba with oil on friendly credit terms and in exchange for goods and services instead of the cash it desperately needs.”

Maduro has been trading his country’s imported (read: expensive) crude at a loss in order to secure political alliances. Reuters quoted the insider opinion of an unidentified “former top Venezuelan government official:”

“Maduro is giving away everything he can because these countries’ backing, especially from Cuba, is all the political support he has left.”

How bad is it in Venezuela? It’s so bad that:

RESIDENTS ARE RATIONING TOOTHPASTE because one-third of them earn the minimum wage. At that pay scale, a tube of toothpaste costs half a week’s wages.

Maduro raised the national minimum wage on July 1, 2017 by 20 percent. But, with inflation increasing by thousand-folds, the new minimum wage is about $33 per month, “enough for only about six pounds of milk powder or five cartons of eggs.”

Venezuela is experiencing food and medicine shortages. People stand in line for hours to buy staples. The poverty level has risen from 48 percent to 82 percent since 2014.

Can you imagine life without beef, chicken, salad, fruit, coffee – or chocolate??

PARENTS ARE ABANDONING THEIR CHILDREN AT ORPHANAGES because they can’t feed their children. There are waiting lists for facilities to take children wanted by their families, but many applicants are turned away due to space limitations.

KELLOGG (the US cereal company) CLOSED IT OPERATIONS and this week, on May 15, 2018, as 300 workers found out when they came to work only to find a “We’re Closed” notice. The company issued this statement of explanation:

“The current economic and social deterioration in the country has now prompted the company to discontinue operations.”

Claiming victory for statism and its citizenry, the Venezuelan government immediately seized control of the manufactury.

Kellogg is only one in a tide of large multinational corporations that have left the political misery and economic volatility of Venezuela behind. Other mega-companies that have already closed up shop include “Bridgestone, Clorox, Coca-Cola, Colgate, Kimberly-Clark, General Mills, General Motors and Harvest Natural Resources.”

– Despite investment bond rates as high as 12.75% (as compared to a typical US bond paying 2.5% interest), VENEZUELA’S CREDITORS MAY EXERCISE THEIR CONTRACTUAL OPTION TO ACCELERATE THEIR LOANS if they tire of waiting for their predictably late payments. In this scenario, “they have the right to seize Venezuelan oil that’s in the United States or on tankers in the ocean as collateral.”

If the countries Venezuela owes money to force their repayments by taking the little oil the beleaguered country now produces, total economic collapse could be the consequence.

Certainly, now we can all understand why Venezuelans are fleeing their country if and when possible. The nation’s youth, polled recently, want out. They are tired of doing without, especially when they see safer, richer countries relatively close to home – in geographic miles, that is.

The gulf between the life of an average Venezuelan and a typical American is as vast as it is underestimated. Expect to hear more bad news from this poor, little country with a big, bad dictator.

  1. Post Author

    This will be The United States of America under Bernie Sanders

    • Post Author

      Your so right

    • Post Author

      Agree, except both Hilliary and Saunders would have done this!!

    • Post Author

      So true, and yet millions of our young voters think Bernie is great – things are bad here too.

  2. Post Author

    Where is Sean Penn when we need him

    • Post Author

      He is probably out partying with that other POS Oliver Stone.

  3. Post Author

    And yet we had low life’s vote for Bernie

  4. Post Author

    I think Hillary and Bernie should get a timeshare there together, …they could invite Boxer,Feinstein and Schumer for a winter get together.happy new years.dumbasses.

  5. Post Author

    The stupidity of the comment about Bernie Sanders clearly shows the brainwashed crowd that voted for Trump.

  6. Post Author

    Did anyone else see a common action in this story. That the ruler is giving away the countries riches to other countries just for political power. Doesn’t that remind anyone of what was going on under Obama. Just look at the Paris accord, the Iraq payments, the North Korea lack of nuclear agreements. China.

    Liberal / Socialism does not work, it is a utopian fairy tail and Venezuela is proof, this country had a great economy, growing population with highly educated and trained people. It was a gem in that part of the world. Now after socialism took hold it has spiraled into this.

  7. Post Author

    America will become a third world country if people don’t get behind President Trump and VOTE REPUBLICAN GODforTRUMP2016-24🕊🇺🇸🙏🏻

    • Post Author

      The sheeple’s ignorance will destroy America

  8. Post Author

    The 1st comment makes less sense than the 2nd.

  9. Post Author

    Venezuela no es un pequeño y pobre país. Venezuela es el resultado de la clase alta oprimiendo la clase baja, que en su mayoría es el pueblo de Venezuela. Este dictador caerá. No será Estados Unidos de América quien intervendrá o se las verá con America Latina. Estados Unidos de America es un lugar que da miedo, mucho miedo y va camino a ser un país socialista.
    A Sean Penn que se quede ayudando a Haití, mientras los Clinton se roban de esa pobre nación. Nosotros, los Latinos, estamos y nos haremos cargo de nuestros asuntos. Stay away USA!!

  10. Post Author

    One word, Socialism.

  11. Post Author

    Socialism at its best. Government is inefficient in all its attempts to improve the lot of the people. Thomas Jefferson warned us against democracy that once the people realize they can vote themselves benefits; the country will be doomed. That is why we are founding this country as a Republic instead of a straight democracy.

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