Author Topic: Venezuela goes deeper into the hyperinflation abyss  (Read 1014 times)

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Offline Libertas

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Re: Venezuela goes deeper into the hyperinflation abyss
« Reply #20 on: October 27, 2016, 12:19:28 PM »
I wonder if Maduro has ever seen a certain video that was broadcast as a Christmas present to the Romanian people in 1989?

Oh jeez... Diet Dew nasal cavity cleansing!

 ::thumbsup::

Merry Christmas fothermucker!

https://www.youtube.com/watch?v=9P-JrjCRkhI

Yup.  Sometimes the right people get what they deserve.   ;)
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Offline Libertas

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Re: Venezuela goes deeper into the hyperinflation abyss
« Reply #21 on: November 01, 2016, 07:26:37 AM »
Having thrown in the towel on hyperinflation by printing banknotes with 200-times-higher denominations, Bloomberg reports that things in Venezuela have continued to get worse with the currency now so devalued (with even simple purchases requiring so many bills) that instead of counting bills, they are weighing them.

Once one of the world’s strongest currencies, the bolivar has been reduced to a nuisance. Basic purchases require hundreds of bills. Shoppers shove piles of them into gym bags before venturing into crime-plagued streets and shopkeepers stash thousands in boxes and overflowing drawers. In the absence of official data, economists are left to guess what the inflation rate is. Estimates for this year range from 200 percent to 1,500 percent.

At a delicatessen counter in eastern Caracas, Humberto Gonzalez removes slices of salty white cheese from his scale and replaces them with a stack of bolivar notes handed over by his customer.

“It’s sad," Gonzalez says. "At this point, I think the cheese is worth more.”

http://www.zerohedge.com/news/2016-10-31/i-feel-pablo-escobar-venezuelans-resort-weighing-cash-hyperinflation-builds

The fugly is about to get fuglier.

Of course the "it can never happen here" folks will fire up their refrain...

Yup, everybody thinks that way...till they don't.
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Offline Weisshaupt

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Re: Venezuela goes deeper into the hyperinflation abyss
« Reply #22 on: November 01, 2016, 07:40:17 AM »


Of course the "it can never happen here" folks will fire up their refrain...

Yup, everybody thinks that way...till they don't.

Or they define it so it hasn't...

http://www.zerohedge.com/news/2016-10-30/venezuela%E2%80%99s-inflation-%E2%80%93-zero-hedge-repeats-errors-printed-ad-nauseam-financial-press

Quote
As the accompanying chart shows, Venezuela’s inflation is not about ready to break out in hyperinflation, but has decelerated dramatically from annual rates exceeding 700 percent in 2015 to today’s still punishing rate of 74.4 percent.

By the way, for those who play fast and loose with the word “hyperinflation,” the hyperinflation threshold is 12,875 percent, year over year.

So its not "hyper-inflation" because someone picked some arbitrary high inflation rate. See, Socialism isn't a disaster :)
Sure they are weighing cash for payment but don't irresponsibility thorw around words like hyperinflation to describe it.

Obviously the Tylers thought  it was funny.

Offline Libertas

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Re: Venezuela goes deeper into the hyperinflation abyss
« Reply #23 on: November 01, 2016, 07:57:06 AM »
I'm sure those definitions impress the people on the streets trying to survive...yeah, I bet they think "Oh, so it isn't so bad?" and not "sh*t, it's gonna get worse!"!

 ::hysterical::

Even a people as bred into socialism as latter day Soviets knew the jig was up...

GOP? - Nope. No more. They made their bed, now let them die in it.*
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Online Glock32

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Re: Venezuela goes deeper into the hyperinflation abyss
« Reply #24 on: November 01, 2016, 10:03:11 PM »
Yeah defining things out of existence is one of the Left's favorite tactics.  It gets back to this idea they have that they can set reality by stating so.

Weighing stacks of currency sounds a lot like Weimar marks being used as wallpaper and firewood.
"The Fourth Estate is less honorable than the First Profession."

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Online Glock32

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Re: Venezuela goes deeper into the hyperinflation abyss
« Reply #25 on: November 01, 2016, 10:14:03 PM »
Yeah the comments are a hoot.  "What part of weighing cash instead of counting it does he not get?"  Another guy pointed out that a real world definition of hyperinflation probably includes that point when your country cannot even import toilet paper.  Though on that point it occurs to me that one of their problems presents a solution to the other.
"The Fourth Estate is less honorable than the First Profession."

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Offline Libertas

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Re: Venezuela goes deeper into the hyperinflation abyss
« Reply #26 on: November 02, 2016, 06:51:06 AM »
Just keep moving that decimal place out.

 ::hysterical::

More silly news...

https://www.washingtonpost.com/news/worldviews/wp/2016/11/01/venezuela-is-telling-hungry-city-dwellers-to-grow-their-own-food/

A bit late...and...guess those city folk just need to give up and die so others can live.  They might need help with the latter and I bet Maduro would be glad to help...if he is a true socialist looking out for the greater good...
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Offline Libertas

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Re: Venezuela goes deeper into the hyperinflation abyss
« Reply #27 on: December 05, 2016, 07:48:19 AM »
http://hosted.ap.org/dynamic/stories/L/LT_VENEZUELA_CURRENCY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2016-12-04-10-06-58

500-20,000?

Stop pussy-footing around!  Go for 50,000-100,000!  You'll be full 1B Zimbabwe soon! 

More is better, right?!

 ::hysterical::

Socialism...it's a killer!
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Offline Libertas

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Re: Venezuela goes deeper into the hyperinflation abyss
« Reply #28 on: January 10, 2017, 08:02:27 AM »
This is swell...

http://www.weaselzippers.us/318627-socialism-success-story-venezuelans-go-hungry-army-begins-selling-food-illegally/

...it should add to the scarcity, cause jealous desperate rage and bring the end closer to reality.
GOP? - Nope. No more. They made their bed, now let them die in it.*
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Offline Libertas

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Re: Venezuela goes deeper into the hyperinflation abyss
« Reply #29 on: March 02, 2017, 07:38:54 AM »
http://money.cnn.com/2017/03/01/news/economy/venezuela-cash/index.html

Shouldn't be long now...unless some fellow traveler nation throws it a bone...
GOP? - Nope. No more. They made their bed, now let them die in it.*
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