Devaluation ups stakes in Venezuela election year -> reuters.com/article/idUSN096521320100109
CARACAS, Jan 9 (Reuters) - Venezuelans rushed to the shops on Saturday, fearful of price rises after a currency devaluation that will let President Hugo Chavez boost government spending ahead of an election but feeds opposition charges of economic mismanagement.
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I still have about 40,000 bolivars somewhere…
HCMh
January 12, 2010, 10:23am
#3
Old or new? Ithink the exchange rate for the old ones is 4000 to the dollar or something.
Ah, they are 2006 vintage but 20,000 notes! Which you couldn’t exchange in the airport but you needed to keep some moula for a possible bribe, double jeopardy!
Ah, they are 2006 vintage but 20,000 notes! Which you couldn’t exchange in the airport but you needed to keep some moula for a possible bribe, double jeopardy!
Welcome to the socialist paradise
Did you hear me defending Chavez or Venezuela? Go back under your rock…
Sweet socialism, it create opportunities unknown in capitalist world.
Buy 10k$ worth of food for 26k bolivares
Barter food for 10k$ worth of car in other country
Sell car for 36k bolivares (well below 43k bolivares worth)
Spend 10k bolivares
Go to 1
Of course there would be some cost of moving food, bribes etc
How socialists could solve this problem? Deploy more clerks to make sure no imported food is exported.
September:
Sweet socialism
Sweet Bolivarianism you mean of course…
Hugo Chavez Close to Crushing Venezuela’s Economy -> english.pravda.ru/world/americas … o_chavez-0
Venezuela is suffering from a serious crisis in the energy industry. The crisis made the nation’s President Hugo Chavez refuse from the scheduled participation in the summit of the Union of South American Nations, which currently takes place in Ecuador to help the survivors of Haiti earthquake.
Chavez now has a much bigger problem. In his new “Suddenly Chavez” radio show, which debuted on February 8, the president of the Latin American nation stated that he declared a state of energy emergency due to a draught. The state of emergency will stay in effect for 60 days, but it can be prolonged afterwards.
Venezuelan President believes that it will be most efficient to punish those who do not save electric power. The natural persons, who overuse electricity, will have to pay twice as much for the consumption of electric power.
Enterprises will have to have a 20-percent reduction in the consumption of electricity, or they will be shut down. To crown it all, Venezuelan newspapers will be publishing shameful lists of those people who cause damage to the revolutionary economy of the nation.
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15000 Irishmen fought under Simon Bolivar. Bit of useless information for y,all.
Alot of what he says on his radio programmes / tv shows tends not to go ahead, he’s a bit like the Iranian chap in that respect and Barack Obama.
@truth.ie
Thanks for quoting a post that is a calendar month old!
And you’re still in an awful mood, imagine
I was wondering how long it would take this to happen…
thanks…
damn those weather based renewables…and those imperialist yanks causing for climate change
rock3r
February 12, 2010, 9:56pm
#16
According to this poll, Chávez is in trouble, the opposition are in worse trouble and the Independents are going to run away with it.
angus-reid.com/polls/view/35 … candidates
Looks like supporting a coup in 2002 hasn’t been forgotten. The fact that Chávez is a clown isn’t enough to make them want a Quisling instead.
Chavez is still hugely popular with the poor and disadvantaged, who unfortunately are still the majority there. Their lives have improved, since their oil money can now be seen being used in the Nation, rather than the profits being syphoned by foreign States.
https://blog.erlingsson.com/wp-content/uploads/2009/09/patria_socialismo_o_muerte.jpg
Truth.ie:
Chavez is still hugely popular with the poor and disadvantaged, who unfortunately are still the majority there. Their lives have improved, since their oil money can now be seen being used in the Nation, rather than the profits being syphoned by foreign States.
That’s not actually the case, you have to look beyond the monetary aggregates to realise more money is just inflation, that does not rise the standard of living of poor people and disproportionately weakens their standard of living. How does wrecking the economy help the poor?
The Unfulfilled Promises of Hugo Chávez -> foreignaffairs.com/articles/ … revolution
Poverty and inequality statistics, of course, tell only part of the story. There are many aspects of the well-being of the poor not captured by measures of money income, and this is where Chávez’s supporters claim that the government has made the most progress – through its missions, which have concentrated on the direct provision of health, education, and other basic public services to poor communities. But again, official statistics show no signs of a substantial improvement in the well-being of ordinary Venezuelans, and in many cases there have been worrying deteriorations. The percentage of underweight babies, for example, increased from 8.4 percent to 9.1 percent between 1999 and 2006. During the same period, the percentage of households without access to running water rose from 7.2 percent to 9.4 percent, and the percentage of families living in dwellings with earthen doors multiplied almost threefold, from 2.5 percent to 6.8 percent. In Venezuela, one can see the missions everywhere: in government posters lining the streets of Caracas, in the ubiquitous red shirts issued to program participants and worn by government supporters at Chávez rallies, in the bloated government budget allocations. The only place where one will be hard-pressed to find them is in the human development statistics.
Remarkably, given Chávez’s rhetoric and reputation, official figures show no significant change in the priority given to social spending during his administration . The average share of the budget devoted to health, education, and housing under Chávez in his first eight years in office was 25.12 percent, essentially identical to the average share (25.08 percent) in the previous eight years. And it is lower today than it was in 1992, the last year in office of the “neoliberal” administration of Carlos Andrés Pérez – the leader whom Chávez, then a lieutenant colonel in the Venezuelan army, tried to overthrow in a coup, purportedly on behalf of Venezuela’s neglected poor majority.
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