Venezuela is teetering on the brink. Venezuela’s oil production is on the brink of collapse – Business Insider
If oil production collapses in the country, they won’t have a dime. They are already in a really bad way.
The inflation rate, according to the IMF, will balloon to 720 percent this year. Food shortages have been common for quite some time, but are deepening and wearing down the population. Three out of four people surveyed by the WSJ reported involuntary weight loss last year. Hospitals have completely broken down.
No food, no medical care. (What? I thought health care was a right. How could this happen in a socialist paradise?)
So why is oil production declining? Because the .gov used the oil money to buy and keep power, and spent none of it on maintenance. But there is a funny thing about oil equipment… it breaks down.
Crude oil production is down 18 percent since 2015 and is expected to decline 10 to 15 percent this year. Venezuelan oil refineries are also breaking down, unable to obtain spare parts.
The litany of decay goes on from there. Unpaid bills. Oil sent abroad, not kept for domestic use. The security services of the country are getting restless too. (They have families who can’t eat after all.) As Margaret Thatcher would have said, they have reached the point where they’ve run out of other people’s money.
What else is there to say?
Apparently, the .gov of Venezuela has decided to do away with civilian courts. Venezuela Tries Protesters in Military Court ‘Like We Are in a War’
Sounds like martial law has been declared. What a surprise, a Socialist
Paradise dictatorship does away with the rule of law in order to remain in power.
President Nicolás Maduro, beleaguered by a second month of protests against his rule, has prosecuted political rivals under terrorism laws and expanded his powers by emergency decrees. His backers on the Supreme Court have even tried to dissolve the national legislature, which is led by the political opposition.
I wonder why the continuing stream of Leftists (Bernie Sanders, call your office) stopped going there/saying nice things about Venezuela.
Hollywood bigwigs (and smaller wigs) were flocking to Venezuela to congratulate their socialist overlords on doing away with capitalism. Why did they stop going? Venezuela President Nicolas Maduro starts process to rewrite constitution amid deadly protests – CBS News
Thousands of protesters were met with plumes of tear gas in Venezuela’s capital Wednesday, just a short distance from where President Nicolas Maduro delivered a decree kicking off a process to rewrite the polarized nation’s constitution.
Rewriting the constitution because he doesn’t want to lose power.
The only truly amazing thing about this story is that CBS News actually called Venezuela a Socialist country. Go figure.
Venezuela is worried about people leaving, because starvation and violence. Venezuela Reopens Border With Brazil, Colombia Perimeter Still Closed
The border with Colombia had been closed on the orders of Venezuelan President Nicolás Maduro to prevent 100 Bolivars from entering the country, which he said were being hoarded by “mafias” in the border city of Cúcuta, Colombia.
The border was supposed to be closed for only 72 hours, during which time banknotes were supposed to be delivered to banks and then removed from circulation. However, the border with Colombia has remained closed.
Brazil had to work through diplomatic channels to get their citizens OUT of the country, when Venezuela closed the Brazilian border.
For conditions in the country, see my previous post on the subject.
The collapse of Venezuela continues apace. Venezuela Set for Murderous 2017
Shortages of food and medicine. Hyperinflation. Violence. Welcome to the Socialist paradise – praised by one and all from Hollywood just a few years ago.
The Venezuelan Violence Observatory (Observatorio Venezolano de Violencia – OVV) estimated 28,479 “violent deaths” during 2016, a homicide rate of 91.8 per 100,000 residents. As a point of comparison the murder rate in the United States is under five per 100,000. The count included deaths from confrontations involving security forces, a mounting number.
The numbers are expected to get worse this year.
During 2016 living conditions in the country further, hyperinflation is spiraling out of control and while the minimum wage has increased, salaries have been eroded by the rising cost of products, leading to a proliferation of the black market.
Can you say “failed state?”
So who were the Hollywood Celebs that were in love with the Venezuelan government? Danny Glover, Sean Penn, Kevin Spacey, Danny Glover, Oliver Stone, Harry Belafonte, Naomi Campbell, and Princeton University Professor Cornel West. Not to mention boxing promoter Don King.
Wonder why they aren’t down there now?
Life in a Socialist Paradise. Venezuela’s currency is in ‘free fall’ – Nov. 29, 2016
One dollar fetched 1,567 bolivars on November 1. On November 28, a dollar was worth 3,480 bolivars on the widely-used unofficial exchange rate monitored by Dolartoday.com.
It is expected to get worse, much worse next year. And it is bad enough already.
Just in November, the bolivar has lost 55% of its value.
So where is the parade of Hollywood Celebs who used to trek to Venezuela to tell the government what a great job they were doing? Maybe all those anti-Trump folks who can’t get into Canada, can head south.