Venezuelans Fret Over Prices After Devaluation

The Prof · Jan 1, 2011

http://www.reuters.com/article/idUSN3012342820101231

Venezuelans worried on Friday that a second devaluation of their currency in 12 months would make life even harder as the socialist government of President Hugo Chavez struggled to turn the economy around.

Already suffering one of the world's highest inflation rates and the only major Latin American economy still in recession after the global financial crisis, they fear the New Year devaluation could hit their livelihoods more.

"It is a blow against the pockets of the workers, against the poorest people," said Robinson Calua, a 50-year-old security guard in downtown Caracas.

In the near future, [devaluation] is likely to feed an inflation rate that the central bank estimates was 26.9 percent in 2010.

The outgoing parliament gave Chavez special decree powers for the next 18 months, which he says he will soon use to increase the country's sales tax from its current 12 percent.

1. The perfect expression of the social engineering vision revealed: the little people comprising the masses, whom the socialist demagogues, are, candidly, by his view no more than bricks with which to construct that ideal Utopia.

2. Bernanke's perspective:

cnbc: fed pumps 600 billion

Fed to Buy $600 Billion of Treasurys - WSJ.com

3. What's going on in Greece, Ireland, Portugal, France?

4. All the way from Albany, New York, to Sacramento, California?

5. And from the cities and counties of the Florida Keys to the municipalities making up the Puget Sound?

6. What's gonna happen next?

7. Chavez made his move two weeks ago:

UPDATE 6-Venezuela assembly gives Chavez decree powers | Reuters

8. And Carlos and Cassandra get killed.

9. Come out of your closets, comrades, the accounting is complete.

10. It's AUSTERITY time.

The Prof

Dutch · Jan 1, 2011

You might as well stick a fork in venezuala, it's done. Now it's just another socialist paradise, just like cuba.

j-mac · Jan 1, 2011

Sounds like the same course we are on, just a tad behind....Call it coming attractions.

j-mac

Khayembii Communique · Jan 1, 2011

Only thing that will save the Venezuelan economy is complete expropriation and the transition to workers' rule.

j-mac · Jan 1, 2011

Khayembii Communique said:
Only thing that will save the Venezuelan economy is complete expropriation and the transition to workers' rule.

OK, break that down for us simpletons....What do you mean by 'workers rule'?

j-mac

Dutch · Jan 1, 2011

Khayembii Communique said:
Only thing that will save the Venezuelan economy is complete expropriation and the transition to workers' rule.

Why naturally, comrade. If a little socialism isn't workin out for ya' a lot more will be always give ya' different results. Marx rules!!

Dutch · Jan 1, 2011

j-mac said:
OK, break that down for us simpletons....What do you mean by 'workers rule'?

j-mac

Why the final stage of a communist society silly. At this point government is completely abolished and the world is run by volunteer workers commitees. Weren't you paying attention back there on the good ol' whistlestopper forum j-mac fer cryin' out loud.

Albert Di Salvo · Jan 1, 2011

Khayembii Communique said:
Only thing that will save the Venezuelan economy is complete expropriation and the transition to workers' rule.

Armed insurrection is the only way for the people of Venezuela to get rid of Chavez. Remember Ceausescu!

j-mac · Jan 1, 2011

Dutch said:
Why the final stage of a communist society silly. At this point government is completely abolished and the world is run by volunteer workers commitees. Weren't you paying attention back there on the good ol' whistlestopper forum j-mac fer cryin' out loud.

Oh yeah, I just wanted him to say it outright. I am a little slow right now, been driving all day, litterally just parked for the night.

j-mac

Dutch · Jan 1, 2011

j-mac said:
Oh yeah, I just wanted him to say it outright. I am a little slow right now, been driving all day, litterally just parked for the night.

j-mac

I'm sorry to have intruded ol' buddy but you wouldn't have enjoyed teasing him anyway. It would have been too easy. Trust me on this one. PM me sometime and tell me how you're gettin along. I would be interested in hearing.