Quote:Before socialism, Venezuela was prospering and had a good economy. Now, it costs 2.6 million bolivars to buy a roll of toilet paper.

However, the country's government has come up with a solution to combat out-of-control inflation: they are planning on raising the minimum wage by 3,000 percent and continuing to raise taxes.

There are multiple reasons why the country's economy is in a downward spiral, and due to empty reserves, government officials are desperate to gain as much money from their citizens as possible.

Carlos Cardenas, head of IHS Markit, claims that one main reason for the severe lack of cash-flow is sanctions being placed on Venezuela:

“The key issue about US sanctions is they've operated in two ways. One, they've targeted top individuals of the government elite in an effort to promote regime change ... the other one, and most critical for the economy, is the sanctions prevent Venezuela from restructuring its debt.”

The government has also introduced a new currency, the “sovereign bolivar,” which takes away five zeroes. President Nicolas Maduro claims the destruction of the economy is the fault of other countries, but reports show widespread government corruption.

“Regardless of the sanctions, the key issue is the authorities are still unable to present a credible economic package or programme that would take out the economy out of the current crisis — so that and,[in] combination with US sanctions, make the economic and political situation more difficult,” Cardenas said.

“The critical point here is that oil production continues to decline, international reserves are not enough to cover any type of imports, and the government is unable to cover its debts and obtain more financing,” he added.

(08-27-2018 03:00 PM)stinkfist Wrote:  that'll fix everything....

might as well wipe your arse with a bolivar....

(08-27-2018 03:03 PM)miko33 Wrote:  

(08-27-2018 03:00 PM)stinkfist Wrote:  that'll fix everything....

might as well wipe your arse with a bolivar....

https://www.dw.com/en/venezuela-what-can-a-bolivar-buy/g-45148377

(08-27-2018 03:20 PM)stinkfist Wrote:  

(08-27-2018 03:03 PM)miko33 Wrote:  

(08-27-2018 03:00 PM)stinkfist Wrote:  that'll fix everything....

might as well wipe your arse with a bolivar....

https://www.dw.com/en/venezuela-what-can-a-bolivar-buy/g-45148377

it's insane .....

in college, it was nothing to spend 0.25 on a usa today and do the crumple thing when you ran out.....

I see no reason why you couldn't do the same on their 'bolvar'd'.....

(08-27-2018 03:20 PM)stinkfist Wrote:  

(08-27-2018 03:03 PM)miko33 Wrote:  

(08-27-2018 03:00 PM)stinkfist Wrote:  that'll fix everything....

might as well wipe your arse with a bolivar....

https://www.dw.com/en/venezuela-what-can-a-bolivar-buy/g-45148377

it's insane .....

in college, it was nothing to spend 0.25 on a usa today and do the crumple thing when you ran out.....

I see no reason why you couldn't do the same on their 'bolvar'd'.....

(08-27-2018 06:33 PM)TechRocks Wrote:  The Maduro regime is not only raising the minimum wage a few thousand percentage points, they're giving away money by the fistfulls to anyone who holds a Fatherland Card.

The masses are quite happy, much like the steers in the corral who are getting fed lots of hay and grains by that nice man who comes by twice a day.

(08-27-2018 03:25 PM)miko33 Wrote:  

(08-27-2018 03:20 PM)stinkfist Wrote:  

(08-27-2018 03:03 PM)miko33 Wrote:  

(08-27-2018 03:00 PM)stinkfist Wrote:  that'll fix everything....

might as well wipe your arse with a bolivar....

https://www.dw.com/en/venezuela-what-can-a-bolivar-buy/g-45148377

it's insane .....

in college, it was nothing to spend 0.25 on a usa today and do the crumple thing when you ran out.....

I see no reason why you couldn't do the same on their 'bolvar'd'.....

Which side has more paper for wiping?

(08-27-2018 07:23 PM)stinkfist Wrote:  

(08-27-2018 03:25 PM)miko33 Wrote:  

(08-27-2018 03:20 PM)stinkfist Wrote:  

(08-27-2018 03:03 PM)miko33 Wrote:  

(08-27-2018 03:00 PM)stinkfist Wrote:  that'll fix everything....

might as well wipe your arse with a bolivar....

https://www.dw.com/en/venezuela-what-can-a-bolivar-buy/g-45148377

it's insane .....

in college, it was nothing to spend 0.25 on a usa today and do the crumple thing when you ran out.....

I see no reason why you couldn't do the same on their 'bolvar'd'.....

Which side has more paper for wiping?

lmao....on a bad morning the one on the right is nothing more that a 'wholly roller'...

the one of left would have enough to kindle a fire that would burn down a village afterwards....

I ain' right.....

(08-27-2018 07:38 PM)Fo Shizzle Wrote:  

(08-27-2018 07:23 PM)stinkfist Wrote:  

(08-27-2018 03:25 PM)miko33 Wrote:  

(08-27-2018 03:20 PM)stinkfist Wrote:  

(08-27-2018 03:03 PM)miko33 Wrote:  https://www.dw.com/en/venezuela-what-can-a-bolivar-buy/g-45148377

it's insane .....

in college, it was nothing to spend 0.25 on a usa today and do the crumple thing when you ran out.....

I see no reason why you couldn't do the same on their 'bolvar'd'.....

Which side has more paper for wiping?

lmao....on a bad morning the one on the right is nothing more that a 'wholly roller'...

the one of left would have enough to kindle a fire that would burn down a village afterwards....

I ain' right.....

Oh...You would just be thinking the one on left might make good rolling papers.