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Full Version: Socialist Venezuela Has Only $10 Billion In Reserve Left To Fund Government…
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So will Danny Glover and his fellow Hollywood leftists bail them out? They are in deep trouble now.

Quote:Amid all of Venezuela’s problems, the country is running out of time and money.

Venezuela only has $10 billion in reserves — the cash that’s intended to keep an economy stable and weather tough times.

What’s worse: most of those reserves aren’t in hard cash. About $7 billion is in gold bars, which doesn’t make it easy to make payments.

And Venezuela has a lot of bills to pay soon. It owes $6 billion in debt payments for the rest of this year. There’s also no sign that the country’s lone source of revenue — oil exports — will be able to pay down those debts.

At the end of the day, Venezuela is running the risk of defaulting on its debt this year, meaning it wouldn’t be able to get more loans to pay for basics like food and medicine, which are in scarce supply.

In 2011, Venezuela had $30 billion in the bank. As recently as 2015, it had $20 billion.

The worsening financial picture underscores Venezuela’s problems. Violent, anti-government protests killed three people Wednesday, and more protests are scheduled for the weekend. Armed forces met protesters with tear gas and shots.

Also on Wednesday, General Motors said Venezuelan authorities seized its assembly plant. Authorities later denied it was seized, saying it’s embargoed until a long-running court case is resolved, but that distinction didn’t matter to GM: it shut down operations due to the government intervention.

The IMF predicted on Tuesday that inflation in Venezuela would skyrocket 720% while unemployment would shoot up over 25%. This year will likely mark the fourth straight year of recession — entirely under socialist president Nicolas Maduro, who blames the U.S. and political opponents for the country’s problems.

http://fox40.com/2017/04/21/venezuela-on...-reserves/
#notwinning
Yet another socialist success story.
This is what happens when you put all your eggs in one basket and don't diversify your economy.
If they still have $10billion on hand after a few years, some libturds will say they simply didnt blow enough money quickly enough.
(04-25-2017 05:51 AM)hawghiggs Wrote: [ -> ]This is what happens when you put all your eggs in one basket and don't diversify your economy.

No, this is what happens when you kill the chicken...

Im sure the lower crude prices would be hurting them either way but chasing off all foreign investment and nationalizing everything in sight (along with price controls) have done more damage than a non diverse economy.
If socialism doesnt work in a nation that is oil rich, it aint going to work anywhere. No amount of money will be able to overcome a group of people who will not work and demand everything such as healthcare, a fine living wage, and retirement as a constitutional right.
more spam. How many limited comment threads are started daily?
(04-25-2017 01:52 PM)Machiavelli Wrote: [ -> ]more spam. How many limited comment threads are started daily?

[Image: pacifier.png]
(04-25-2017 01:52 PM)Machiavelli Wrote: [ -> ]more spam. How many limited comment threads are started daily?

I did not know the number of comments make it "spam"....

So eight of the same "I hate trump, he's the devil and will be impeached" in one day is not spam because it has a lot of comments..

ok.
(04-25-2017 10:40 AM)UofMstateU Wrote: [ -> ]If socialism doesnt work in a nation that is oil rich, it aint going to work anywhere. No amount of money will be able to overcome a group of people who will not work and demand everything such as healthcare, a fine living wage, and retirement as a constitutional right.

Even China and Russia found out that a solely socialist country will not work. The biggest hindrance to something like this is that there will not be foreign investment in the country if that country wants to take over every facility that comes around…or wants to run that company.
(04-25-2017 02:14 PM)olliebaba Wrote: [ -> ]
(04-25-2017 10:40 AM)UofMstateU Wrote: [ -> ]If socialism doesnt work in a nation that is oil rich, it aint going to work anywhere. No amount of money will be able to overcome a group of people who will not work and demand everything such as healthcare, a fine living wage, and retirement as a constitutional right.

Even China and Russia found out that a solely socialist country will not work. The biggest hindrance to something like this is that there will not be foreign investment in the country if that country wants to take over every facility that comes around…or wants to run that company.

And Vietnam.

"I have a hard time believing Vietnam ever passed through a totalitarian phase, but it’s easy to believe the phase was a brief one. Communism endured in Russia from the early 20th century until nearly the end, but it wasn’t imposed on all of Vietnam until the middle of the 1970s, and it ended in all but name before it ended in Moscow. The Vietnamese are too energetic, fearless, and naturally capitalistic to be forced for long onto an anthill."

http://www.worldaffairsjournal.org/blog/...me-vietnam
Apparently they have actually ran out of other people's money.

[Image: thatcher.png]
(04-25-2017 10:40 AM)UofMstateU Wrote: [ -> ]If socialism doesnt work in a nation that is oil rich, it aint going to work anywhere. No amount of money will be able to overcome a group of people who will not work and demand everything such as healthcare, a fine living wage, and retirement as a constitutional right.

Socialism can work, but only in cases where all basic needs are able to be provided before redistributing extras. If there's not enough to go around, people will hoard.

Sweden can try socialism...Venezuela can't.

What people don't realize is that the VAST majority of Venezuelans were very poor even when the oil economy was booming and before Chavez took over. Venezuela never attempted to provide for everyone even when they could theoretically afford it.

To be clear, I've never supported Chavez or his economic program. It wasn't really socialist or communist, but really more of a kleptocracy.

Socialism cannot work if there's not enough to go around.
(04-25-2017 06:07 PM)Tom in Lazybrook Wrote: [ -> ]
(04-25-2017 10:40 AM)UofMstateU Wrote: [ -> ]If socialism doesnt work in a nation that is oil rich, it aint going to work anywhere. No amount of money will be able to overcome a group of people who will not work and demand everything such as healthcare, a fine living wage, and retirement as a constitutional right.
Socialism can work, but only in cases where all basic needs are able to be provided before redistributing extras. If there's not enough to go around, people will hoard.
Sweden can try socialism...Venezuela can't.
What people don't realize is that the VAST majority of Venezuelans were very poor even when the oil economy was booming and before Chavez took over. Venezuela never attempted to provide for everyone even when they could theoretically afford it.
To be clear, I've never supported Chavez or his economic program. It wasn't really socialist or communist, but really more of a kleptocracy.
Socialism cannot work if there's not enough to go around.

Let socialism work for a while and there will cease to be enough to go around.
(04-25-2017 06:10 PM)Owl 69/70/75 Wrote: [ -> ]
(04-25-2017 06:07 PM)Tom in Lazybrook Wrote: [ -> ]
(04-25-2017 10:40 AM)UofMstateU Wrote: [ -> ]If socialism doesnt work in a nation that is oil rich, it aint going to work anywhere. No amount of money will be able to overcome a group of people who will not work and demand everything such as healthcare, a fine living wage, and retirement as a constitutional right.
Socialism can work, but only in cases where all basic needs are able to be provided before redistributing extras. If there's not enough to go around, people will hoard.
Sweden can try socialism...Venezuela can't.
What people don't realize is that the VAST majority of Venezuelans were very poor even when the oil economy was booming and before Chavez took over. Venezuela never attempted to provide for everyone even when they could theoretically afford it.
To be clear, I've never supported Chavez or his economic program. It wasn't really socialist or communist, but really more of a kleptocracy.
Socialism cannot work if there's not enough to go around.

Let socialism work for a while and there will cease to be enough to go around.

Not always.

There are people who think that any regulation/progressive taxation or any non-military redistributive schemes are the same as Maduro style socialism.

There are people who think that any capitalism means oligarchical abuse.

The truth lies somewhere in between.
(04-25-2017 06:36 PM)Tom in Lazybrook Wrote: [ -> ]
(04-25-2017 06:10 PM)Owl 69/70/75 Wrote: [ -> ]
(04-25-2017 06:07 PM)Tom in Lazybrook Wrote: [ -> ]
(04-25-2017 10:40 AM)UofMstateU Wrote: [ -> ]If socialism doesnt work in a nation that is oil rich, it aint going to work anywhere. No amount of money will be able to overcome a group of people who will not work and demand everything such as healthcare, a fine living wage, and retirement as a constitutional right.
Socialism can work, but only in cases where all basic needs are able to be provided before redistributing extras. If there's not enough to go around, people will hoard.
Sweden can try socialism...Venezuela can't.
What people don't realize is that the VAST majority of Venezuelans were very poor even when the oil economy was booming and before Chavez took over. Venezuela never attempted to provide for everyone even when they could theoretically afford it.
To be clear, I've never supported Chavez or his economic program. It wasn't really socialist or communist, but really more of a kleptocracy.
Socialism cannot work if there's not enough to go around.

Let socialism work for a while and there will cease to be enough to go around.

Not always.

There are people who think that any regulation/progressive taxation or any non-military redistributive schemes are the same as Maduro style socialism.

There are people who think that any capitalism means oligarchical abuse.

The truth lies somewhere in between.

LOL

Make it where anything that a person earns after X becomes the government and people are going to do everything in their power to make up to X and not a penny more. Absolutely nobody wants to work for free.
(04-25-2017 06:49 PM)Kaplony Wrote: [ -> ]
(04-25-2017 06:36 PM)Tom in Lazybrook Wrote: [ -> ]
(04-25-2017 06:10 PM)Owl 69/70/75 Wrote: [ -> ]
(04-25-2017 06:07 PM)Tom in Lazybrook Wrote: [ -> ]
(04-25-2017 10:40 AM)UofMstateU Wrote: [ -> ]If socialism doesnt work in a nation that is oil rich, it aint going to work anywhere. No amount of money will be able to overcome a group of people who will not work and demand everything such as healthcare, a fine living wage, and retirement as a constitutional right.
Socialism can work, but only in cases where all basic needs are able to be provided before redistributing extras. If there's not enough to go around, people will hoard.
Sweden can try socialism...Venezuela can't.
What people don't realize is that the VAST majority of Venezuelans were very poor even when the oil economy was booming and before Chavez took over. Venezuela never attempted to provide for everyone even when they could theoretically afford it.
To be clear, I've never supported Chavez or his economic program. It wasn't really socialist or communist, but really more of a kleptocracy.
Socialism cannot work if there's not enough to go around.

Let socialism work for a while and there will cease to be enough to go around.

Not always.

There are people who think that any regulation/progressive taxation or any non-military redistributive schemes are the same as Maduro style socialism.

There are people who think that any capitalism means oligarchical abuse.

The truth lies somewhere in between.

LOL

Make it where anything that a person earns after X becomes the government and people are going to do everything in their power to make up to X and not a penny more. Absolutely nobody wants to work for free.

there's that "incentive" thingy again.....

one is nothing but a simple pimple if they think socialism can survive long term.....

I'd get banned again if I said what I really wanted to say.....
(04-25-2017 06:07 PM)Tom in Lazybrook Wrote: [ -> ]To be clear, I've never supported Chavez or his economic program. It wasn't really socialist or communist, but really more of a kleptocracy.

I've heard only two takes on this lately

1) Chavez wasn't REALLY a socialist, he was more of a just a dictator
2) It's a "post-Chavez" problem. Things were great under Chavez but then got screwed up.

Truth....Chavez was a socialist....and he is responsible for the mess.
(04-25-2017 07:19 PM)ark30inf Wrote: [ -> ]
(04-25-2017 06:07 PM)Tom in Lazybrook Wrote: [ -> ]To be clear, I've never supported Chavez or his economic program. It wasn't really socialist or communist, but really more of a kleptocracy.

I've heard only two takes on this lately

1) Chavez wasn't REALLY a socialist, he was more of a just a dictator
2) It's a "post-Chavez" problem. Things were great under Chavez but then got screwed up.

Truth....Chavez was a socialist....and he is responsible for the mess.

Chavez was not a socialist in the same manner as Sweden is socialist. Chavez just took. Just a petty dictator who used massive extractive wealth to prop up a system unsustainable otherwise.

Things sucked under Chavez even when oil prices were high.
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