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Venezuela: On the Verge Of Political Turmoil
Venezuela: On the Verge Of Political Turmoil Via Stratfor, Less than a month after being sworn in, Venezuela’s new opposition-controlled National Assembly is digging in its heels for a fight with President Nicolas Maduro and the ruling United Socialist Party of Venezuela (PSUV). On Jan. 22, a parliamentary committee overruled a decree that would have granted the president […]
Maduro “Wake Up” Call For OPEC As Venezuela Crude Crashes To 13 Year Lows
Maduro “Wake Up” Call For OPEC As Venezuela Crude Crashes To 13 Year Lows Venezuela’s crude oil basket price collapsed to as low as $20.20 yesterday, according to the socialist utopia’s President Maduro. Having already “passed the point of no return,” Maduro rages that OPEC producers appear to be “finally waking up” to what they have unleashed […]
Venezuela Liquidating Assets As Economic Crisis Worsens
Venezuela Liquidating Assets As Economic Crisis Worsens Venezuela is at a political crossroads, with an all-important parliamentary election set to take place in December. Meanwhile, the Venezuelan economy continues to deteriorate as the state seeks to stave off default and a brewing financial crisis. The state-owned oil company PDVSA is looking to push off debt repayments that […]
Venezuela Default Countdown Begins: After Selling Billions In Gold, Caracas Raids $467 Million In IMF Reserves
Venezuela Default Countdown Begins: After Selling Billions In Gold, Caracas Raids $467 Million In IMF Reserves In late October, when describing Venezuela’s desperate steps to keep itself afloat for a few more months, we reported that in order to fund $3.5 billion bond payments in early November, Maduro’s government had engaged in something that is the very […]
Resisting Socialism in early 20th Century Britain
Resisting Socialism in early 20th Century Britain “The foundations of economic freedom are weakening around the world, according to the 2013 Index of Economic Freedom published by the Heritage Foundation and The Wall Street Journal. Particularly concerning are the rise of populist ‘democratic’ movements that use the coercive power of government to redistribute income and […]
Venezuela isn’t looking too hot
Venezuela isn’t looking too hot If anarcho-capitalists should move to Somalia, then socialists – especially, “social democrats” — should move to Venezuela. The country is a complete disaster. But don’t take my word for it, read what a Caracas homemaker said after she tried to buy three cans of sardines and was ordered to put one back […]
Why Did Oil Prices Just Jump By 27 Percent In 3 Days?
Why Did Oil Prices Just Jump By 27 Percent In 3 Days? Oil prices have posted their strongest rally in years, jumping an astounding 27 percent in the last three trading days of August. While much of the recent price movement defies reason and is enormously magnified by speculativemovements by traders to take and cover their […]
Low Oil Prices Could Break The “Fragile Five” Producing Nations
Low Oil Prices Could Break The “Fragile Five” Producing Nations Persistently low oil prices have already inflicted economic pain on oil-producing countries. But with crude sticking near six-year lows, the risk of political turmoil is starting to rise. There are several countries in which the risks are the greatest – Algeria, Iraq, Libya, Nigeria, and […]
Brain-Drained
Brain-Drained Venezuela: Real Wages Collapse amid Continuing Crack-Up Boom While the crack-up boom in Venezuela continues, real wages in the country have have utterly collapsed. The bolivar is still trading close to 700 to the US dollar on the black market, and the Caracas stock index keeps making new all time highs in nominal terms […]
Venezuela Increasingly Looks Like A War Zone
Venezuela Increasingly Looks Like A War Zone Over the years, we have repeatedly poked fun at the transformation of Venezuela into a “socialist utopia” – an economy in a state of terminal collapse, where the destruction of the currency (one black market Bolivaris now worth 107 times less than the official currency’s exchange rate) and the […]
The South American Financial Crisis Of 2015
The South American Financial Crisis Of 2015 Most nations in South America are either already experiencing an economic recession or are right on the verge of one. In general, South American economies are very heavily dependent on exports, and right now they are being absolutely shredded by the twin blades of a commodity price collapse and a […]
Government of Venezuela Forces Farmers to Hand Over Food
Government of Venezuela Forces Farmers to Hand Over Food The government of Venezuela is playing Monopoly, but it isn’t the kind with those little plastic hotels. They’re controlling essential goods like food, and putting the retail establishments of the country out of business. According to a UK Telegraph report, the government is now forcing farmers and […]
Deflation Is Winning – Beware!
Deflation Is Winning – Beware! Expect the ride to get even rougher Deflation is back on the front burner and it’s going to destroy all of the careful central planning and related market manipulation of the past 6 years. Clear signs from the periphery indicate that a destructive deflationary pulse has been unleashed. Tanking commodity […]
