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Post by Deleted on Apr 28, 2016 9:20:13 GMT -5
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Post by fauxmaha on Apr 28, 2016 9:27:00 GMT -5
Wait one minute. I'm pretty sure the Venezuelans voted to have money.
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Post by Doug on Apr 28, 2016 9:34:53 GMT -5
No money to buy money. Now that's funny.
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Post by Deleted on Apr 28, 2016 9:40:43 GMT -5
Wait one minute. I'm pretty sure the Venezuelans voted to have money. Socialism! To paraphrase The Incredibles, when everyone's rich, no one is. |
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Post by brucemacneill on Apr 28, 2016 9:45:14 GMT -5
Maybe they can hire Bernie to fix their economy. Looks like he's out of a job.
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Post by RickW on Apr 28, 2016 10:38:37 GMT -5
Unbelievable.
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Post by theevan on Apr 28, 2016 10:44:41 GMT -5
With their oil riches it was going to be the first workers paradise that worked for everybody. Except it didn't. Then when oil prices took a dive, poor Venezuela fell into a black hole.
Still, they've a ways to go before they're Zimbabwe...printing 100 quadrillion notes.
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Post by Village Idiot on Apr 28, 2016 11:05:27 GMT -5
So what ultimately happens? Is it possible, in this modern day and age, for a country like Zimbabe or Venezuela to cease to exist?
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Post by Deleted on Apr 28, 2016 11:34:58 GMT -5
With their oil riches it was going to be the first workers paradise that worked for everybody. Except it didn't. Then when oil prices took a dive, poor Venezuela fell into a black hole. Still, they've a ways to go before they're Zimbabwe...printing 100 quadrillion notes. Probably cheaper and easier to give people a Sharpie and let them add zeroes to their own bills. I mean worthless is worthless. Woo hoo, I'm a quadrillionaire! |
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Post by aquaduct on Apr 28, 2016 11:38:53 GMT -5
Maybe they can hire Bernie to fix their economy. Looks like he's out of a job. Bernie work? As in have a job? Isn't that kind of the antithesis to everything Bernie's about? |
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Post by Deleted on Apr 28, 2016 11:39:29 GMT -5
So what ultimately happens? Is it possible, in this modern day and age, for a country like Zimbabe or Venezuela to cease to exist? Darn good question. Hopefully, they can get rid of the likes of Mugabe and Chavez's understudy, whatever his name is, and begin a long, slow, painful recovery. Then there's Greece and ... another country with almost 20 trillion in debt. How does any of this work? Beats me. Just keep adding zeroes and crossing your fingers? |
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Post by brucemacneill on Apr 28, 2016 12:07:09 GMT -5
Maybe they can hire Bernie to fix their economy. Looks like he's out of a job. Bernie work? As in have a job? Isn't that kind of the antithesis to everything Bernie's about? How hard can it be to be a figurehead? That's all Bernie is now. He could move to Venezuela and do the same there. |
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Post by majorminor on Apr 28, 2016 12:18:17 GMT -5
The gratuitous money quote from the article:
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Post by Marshall on Apr 28, 2016 12:28:31 GMT -5
Venezuela has more Oil than Saudi Arabia. - Wow. I know they has a lot. But more than the Saudis?
No wonder the socialists thought they could be successful, with that kind of historic cash flow. But obviously it went south. So much for central planning.
It seems as though the oil crisis of decades ago has flipped itself on it's head. And I don't think it's going to change any time soon.
Bernie is no Chavez. Not that I'm a Bernie fan.
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Post by Deleted on Apr 28, 2016 14:11:17 GMT -5
The gratuitous money quote from the article: But even if they have the wheelbarrow full of money, there are no hot dogs to buy. All they have is lots of oil and little else of export value. All their eggs in one basket. |
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Post by Chesapeake on Apr 28, 2016 14:20:51 GMT -5
So what ultimately happens? Is it possible, in this modern day and age, for a country like Zimbabe or Venezuela to cease to exist? In its entry for hyperinflation, Wikipedia says the populace begins to shun the national currency in favor of foreign money. Interesting. The free-market solution: some entrepreneur could recycle those all-but-worthless notes and make toilet paper. |
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Post by Deleted on Apr 28, 2016 14:35:33 GMT -5
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Post by Deleted on Apr 28, 2016 14:42:11 GMT -5
I'm told this one is "real" however.  |
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Post by Rob Hanesworth on Apr 28, 2016 14:44:18 GMT -5
So what ultimately happens? Is it possible, in this modern day and age, for a country like Zimbabe or Venezuela to cease to exist? In its entry for hyperinflation, Wikipedia says the populace begins to shun the national currency in favor of foreign money. Interesting. The free-market solution: some entrepreneur could recycle those all-but-worthless notes and make toilet paper. Around 2000, Ecuador stabilized its currency by switching to the U.S. dollar. When I was there that year the switch was in progress. When I went back in 2004, it was completed. I have a few 50,000 Sucre notes. Each is worth $2. |
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Post by fauxmaha on Apr 28, 2016 15:24:31 GMT -5
So what ultimately happens? Is it possible, in this modern day and age, for a country like Zimbabe or Venezuela to cease to exist? I'm sure Danny Glover, Noam Chomsky and Sean Penn will bail them out. |
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