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Thread: Venezuela Inflation

  1. #11
    See, the Thing is... Cow Poke's Avatar
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    Quote Originally Posted by Starlight View Post
    That is very sad for the people in Venezuela. My thoughts are with them. It must be very hard on them. Apparently they are now using other currencies for most transactions as a substitute.
    Quote Originally Posted by Starlight View Post
    The US had been their top trading partner with regard to both exports and imports, and so the recent US policy changes toward shutting down trade with Venezuela due to an ideological dislike of their government have pretty much crippled the country.
    Open with sympathy, then push full force to Blame America First.
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  3. #12
    tWebber seer's Avatar
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    Quote Originally Posted by Cow Poke View Post
    Open with sympathy, then push full force to Blame America First.
    And the fact that there were international sanctions, not just the US.
    Atheism is the cult of death, the death of hope. The universe is doomed, you are doomed, the only thing that remains is to await your execution...

  4. #13
    tWebber Mountain Man's Avatar
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    Quote Originally Posted by myth View Post
    Venezuela's economy = train wreck. Not to a good thing, especially given how the volume of natural resources they have. It's gonna be a wild ride.
    They are reaping the fruits of socialism and a government controlled economy.
    Some may call me foolish, and some may call me odd
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  6. #14
    Evolution is God's ID rogue06's Avatar
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    Considering the sudden infatuation with socialism by our youth it would be really useful if there were some historic and present day examples of just how much a failure that system is when it has been implemented.

    I'm always still in trouble again

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  8. #15
    Evolution is God's ID rogue06's Avatar
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    Quote Originally Posted by myth View Post
    Venezuela's economy = train wreck. Not to a good thing, especially given how the volume of natural resources they have. It's gonna be a wild ride.
    IIRC back in the 50s Venezuela was among the top ten richest countries in the world. It sure didn't take long for Chavez and Maduro to turn the country into an economic basket case.

    My prayers for the poor people forced to endure this.

    I'm always still in trouble again

    "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
    "Of course, human life begins at fertilization thatís not the argument." --Tassman

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  10. #16
    tWebber Starlight's Avatar
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    Quote Originally Posted by rogue06 View Post
    Considering the sudden infatuation with socialism by our youth it would be really useful if there were some historic and present day examples of just how much a failure that system is when it has been implemented.
    Like Bolivia, where the economy had been stagnant for decades, and then after a democratic socialist government came into power in 2005, the economy grew at 12% per year for the next 12 years straight?

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  12. #17
    tWebber
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    Quote Originally Posted by Mountain Man View Post
    They are reaping the fruits of socialism and a government controlled economy.
    Problem with that statement is that the US is not entirely NOT a socialist country with a central bank that doesn't control the economy for political purposes (Yellen initiating policies for Obama, and now Powell clearly doing it for Trump). The difference is the size (hence our unprecedented debt), and the fact we have the global reserve currency.
    "I was the CIA director. We lied, we cheated, we stole, it was like... we had entire training courses. It reminds you of the glory of the American experiment." - Mike Pompeo, Secretary of State (source).

  13. #18
    tWebber
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    Point of information: without the petrodollar and reserve currency system, the US would have long be in hyperinflation too with all the money-printing and conjuring.

    Quote Originally Posted by seer View Post
    And the fact that there were international sanctions, not just the US.
    Point of information: seriously? the US often initiates such sanctions in standard quid-pro-quo diplomacy.
    Trump is basically "Bruce Wayne pretending to be a foppish retarded billionaire" tier genius, in case nerds need a simpler metaphor.

  14. #19
    tWebber
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    Quote Originally Posted by demi-conservative View Post
    Point of information: without the petrodollar and reserve currency system, the US would have long be in hyperinflation too with all the money-printing and conjuring.



    Point of information: seriously? the US often initiates such sanctions in standard quid-pro-quo diplomacy.
    I don't know about hyperinflation, but without the Fed bank the stock market wouldn't be anywhere near as high as it is, the U3 employment number wouldn't be as low as it is (even though we all know the U3 doesn't accurately represent true employment or the true state of the economy), and the measly 2% average GDP number would probably be in the negative.
    "I was the CIA director. We lied, we cheated, we stole, it was like... we had entire training courses. It reminds you of the glory of the American experiment." - Mike Pompeo, Secretary of State (source).

  15. #20
    tWebber
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    Quote Originally Posted by seanD View Post
    I don't know about hyperinflation
    I take a simple approach. Suppose the US was unable to constantly borrow so much money to fund its expenditure. The amount of money conjuring needed to cover the multitrillion over-budgetary spending would result in hyperinflation.
    Trump is basically "Bruce Wayne pretending to be a foppish retarded billionaire" tier genius, in case nerds need a simpler metaphor.

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