Socialist Venezuela’s inflation rate is on track to hit a whopping one million percent. As if the government there hasn’t already destroyed a once thriving economy with their force and coercion flinging the population into poverty, the continual rise in inflation will only mean people will have to live in even worse conditions; if that’s possible.
As inflation rises, the standard of living goes down because your money simply doesn’t go as far as it used to. Venezuelans already live in utter poverty thanks to their enslavement by the socialist regime run by Nicolas Maduro. But things could sadly, get much worse in the near future. The government of Venezuela continues to print money to cover a growing budget hole, which will force the inflation rate up to about one million percent, the International Monetary Fund predicted on Monday.
According to Bloomberg, the economic crisis in the Latin American nation is comparable to that of Germany in 1923 or Zimbabwe in the late 2000s. Alejandro Werner, who is the head of the IMF’s Western Hemisphere department, said that he has forecast the economy of Venezuela to shrink 18 percent in 2018, which would be the third consecutive year of double-digit contractions. This comes as oil production falls significantly as well. “The collapse in economic activity, hyperinflation, and increasing deterioration in the provision of public goods as well as shortages of food at subsidized prices have resulted in large migration flows, which will lead to intensifying spillover effects on neighboring countries,” Werner wrote in a blog post.
While hundreds of thousands of Venezuelans flee hunger and surging prices, President Nicolas Maduro has maintained that the crisis is a result of an “economic war” waged by his political opponents at home and abroad. But the fault lines in the government’s control of the population and the stranglehold on the economy.
Bloomberg’s Cafe Con Leche Index, which tracks the price of a cup of coffee served at a bakery in eastern Caracas, estimates inflation was over 60,000 percent in just the past year and it is picking up speed now. Cafe Con Leche Index posted an annualized rate of almost 300,000 percent in the past three months.
There doesn’t appear to be any reprieve for those living under the thumb of the authoritarian dictator in Venezuela either. But since many have had no choice but to return to the barter system, perhaps they will at least survive the government’s horrific economic devastation.
In the US, what used to cost 10 cents in 1970, cost over one dollar today. Anybody get a 1000% raise? Not me. And we didn’t have anywhere near as many taxes back then.
And that translates as follows.
A man working blue collar in industry in 1990 paying $35,000 would have to earn $66,000 today, but in no way is this possible AND his benefits are a fraction of what they were especially due to Obammacare.
Yet the median HOUSEHOLD income (two or more breadwinners) is $55,000 today. This means two people ie a husband and wife on average earn LESS than the bluecollar guy should be making.
And this is without any raises for 28 YEARS!
People do not understand inflation. They eyes glaze over when what should happen is the scales should fall from their eyes.
By relying upon Free Trade and Chinese slave labor, they destroyed a working industrial based economy. There is NO VALID REASON for interernational trade when we can make everything in America. And before 1972, we largely did so.
When women entered the work force on mass the value of labour was halved. Hence it now takes both the husband and wife to bring home what the man was able to before. Supply and demand made it so…..thanks ladies for your participation.
After Pearl Harbor iñ 1941, there were mass sign up to enlist, but actually FDR had volunteers flying unofficial missions in Manchuria in 1937. On top of this FDR broke two major laws in 1939 and 1940 to bolster Churchill with armaments which voided our neutrality.
Pearl Harbor was hardly a sneak attack but goaded the IJA and then though Hitler was actually trying to reduce attacks on England (because pilots on both sides were exhausted and it was failing) and he was hoping not to fight England by a land invasions. After Pearl he had to declare war on the USA which again he didn’t want to do.
FDR sucked us into WW2.
Well that meant they needed a huge propaganda campaign to hire women as Rosie the Riveter.
The greedy industrialists loved it. Now they had a glut of workers if looking down the road and this is exactly what happened. Then they could mve operations overseas as “labor rates are too high for us to compete internationally”. Well duh, if you are forcing political prisoners in China to work for free then it’s impossible to compete but only if you allow free trade with China. That started in 1972 under Nixon.
Feminists are such fools. Women and ladies were far better off in the 1950’s as they were put on a pedestal and respected. Their entry into the workforce is partially responsible for families being poor and earning LESS than HALF in real wages.
Meanwhile look at the divorce rate, single moms, STDs, preponderance of Depression in their population, drinking, drug abuse, etc.
Look up the Flying Tigers in Manchuria in 1937. This and the oil embargo of the Japanese is what precipitated the Pearl Harbor attack. FDR directly went against Congress’ wishes as they wanted to stay neutral. And there was no War Powers Act until 1972 so he had no legal standing to declare war unofficially.
Yet even though scholars know this, American children are taught that Pearl Harbor was a sneak attack when it was anything but. FDR knew exactly what he was doing.
Yet they still have their $900 iPhones and buy lattes or crappachinos every day.
Blame the Federal Reserve.
Lies, Lies, and more Damn Lies. FAKE NEWS
Capitalism and destructive, coordinated US Economic Sanctions and Saudi Manipulated Depressed oil markets killed Venezuela’s Economy. Ignoring these KEY FACTS makes this SHTFPlan Website look like a propaganda tool of the CIA to further spread lies what the US is doing to destroy yet another nation and its people.
It is [email protected] Disgusting and every American should be ashamed and outraged of the Economic Genocide of what this is doing to Venezuela, democratically Elected President by their people. You dont like who they elected? Too bad and [email protected] Its none of your business.
One Fact in this article: “President Nicolas Maduro has maintained that the crisis is a result of an “economic war” waged by his political opponents at home and abroad.” ding ding ding…correct answer sir. He gets it, I get it. Do you? Or do you believe this horseshit article blaming it all on Communism?
This economic war by the US and its western ally chumps are creating this Crisis, Hunger, starvation, devistation. Its like getting your bank account closed and all your money freezed and you are trying to keep your business and economy afloat. Venezuela is being assraped by the West.
But if you phony propaganda shills can’t Man up to the truth, than your are just a CIA propaganda tool lying to your readers. Socialism is the only glue left to hold this country together from this economic war against them.
Go Read NDAA and all the Commie Socialist language in that USA document. Thats US policy and Law. NDAA is to Seize and Confiscate all assets in time of Crisis. Your land, your food, factories, tools, cattle, transportation, fuels, livestock, and wealth can all be Seized under NDAA.. Yep Communism right here in US Policy. And when it all collapses, Im gonna blame all you Commies for NDAA, as you let this happen on your watch. You get what you deserve for being [email protected] ignorant tools of the State.
Tell it to Bernie… he wants to Make America Venezuela.
I say let em,,,
The people who support that crap will be the ones most affected when everything falls apart.
The poor bastards cannot even fight back down there. They have no weapons but sticks. I’m all for throwing these socialist progressive scum here the fuck out of this country and make them live down there under their preferred system.
Bernie is due for a fatal heart attack.
One could only hope, and sooner the better.
Bernie as well as that flashy latino who won the primary…
What’s her name???
Ocarina Cortez something or another.
No water, no electricity, no internet. Back to the stone age.
Fiat Pirate. That’s what ive been trying to tell folks. I think its a skyrocket back to the stone age. Ive actually prepped for a stone age existence. In the Americas the stone age ended with the arrival of Europeans. So think of it as a early 1700’s lifestyle. Hunter gatherers nomads ,herders ect. Not a Alley Oop club wielding Neanderthal. If the predicted 90% die off happens. Those left after a year will be in a garden of eden setting. Plenty of room to roam and plenty of game to hunt. Of course the life span will become shorter. As soon as your teeth wear out your old and will soon perish.
I think you nailed it wise OLD GUY. Prepare to survive on your own Island for 1 full year until 90% of the Population is dead, disappeared and killed off. If you can survive 1 full year, your life expectancy goes way up. You better have 2 years of cut wood for heat. Or be a Nomad and migrate like the American natives did according to the seasons, planting, hunting and fishing seasons. Know Native American History, as it has many valuable lessons. They survived for thousands of years without electricity, cell phones, TV, coffee lattees, netflix and Facebook. Americans today are so hypnotized by flashy shiney distractions like Cable TV, when they should be teaching their children fire making skills, trapping and using hand tools. Because with en SHTF what you got is all you got. There will no longer becsafety nets like welfare EBT food stanps and free heathcare under medicade.
Free to roam? Better avoid the many many places our nuclear reactors went all China syndrome.
“Those left after a year will be in a garden of eden setting. Plenty of room to roam and plenty of game to hunt. ”
Disease will run rampant with a plague likely. Medical care would be primitive with bacterial infections being fatal. Garden of Eden? Its only a plane / boat ride away right now in the 3rd world.
It doesn’t matter if inflation hits 1 million percent or 2 or more, peoples savings, businesses, industry, infrastructure, and lives in general are already destroyed. The “currency”, the bolivar, they are using is just still around to lend credence to the govt. fiction that they HAVE a currency. The dollar we use here already has no actual value, being a “floating” currency on the world market, its value derived from a number of changing posts. During Obongos’ stay in the WH, and Bush 2, they didn’t like the posts of the GDP, so they changed them, to fit the narrative, and welfare payments of all things, were included as part of GDP. They said it was because they make the rules and they also said that it was money spent and circulating. The dollar is absolutely worthless, same a the bolivar.
Sean, I agree with your post. Please do not tell the sheep though. I like giving them my Federal Reserve Notes in exchange for something of value.
Since we’re not able to afford ordinary, first world kinds of accommodations, by the sweat of our brow, we are under the same, basic, business conditions as Venezuela. If you have it, in this decade, you are a derivative of crony capital or corporate welfare, also have no realistic expectations privacy or the fruits of your own labor.
Starve them into submission to the NWO, that oil belongs to the capitalists, let it go and a few crumbs will be thrown your way as in oil for food. Been reading more about Nikola Tesla, is he not the most brilliant mind in scientific history? Free energy for mankind stripped away by greedy dead pigs followed up by hyper greedy warhawks who oversee managed mayhem. There is a supposed push underway to rid the world of the Rothschild banking system. Is Trump aboard? Quit you’re making me laugh.
And when the US’s inflation hits 100 million % due to progressive spending and the ENORMOUS mountain of debt it’s built, the imbeciles on the left will blame capitalism and a republican president.
Inflation here in the USA is much higher than congress declares. Except for them of course! Check the congressional raises they have given themselves over the years and you see that their salaries have kept up well with their self-caused inflation!
As if the US economy is not also centrally planned.
Hahaha…you people kill me. You live in a socialist country. The only reason you don’t admit it is because you are brainwashed by the teevee and the schools. Because muh “capitalism”.
The .gov backstops 85% of today’s mortgages. They backstop almost all the student loans. They subsidize farmers (see Trump’s new promise to farmers) and food for the masses with SNAP programs. What about HUD? What about Social Security , Medicaid, Medicare and Unemployment? ALL are socialist programs.
The only difference is the exorbitant privilege given by the reserve currency printed out of thin air and the Military that enforces it’s use.
Yea, keep thinking you are freer than everyone else. You are as much a debt slave to the FRN as anyone else.
Maduro made the bolivar absolutely worthless. Change the name to “Maduro” and put his picture on it. They can still use it for toilet paper.
I just got off a Carnival Cruise over the weekend. On the cruise there was a casino dealer that I had a long conversation with.
He was from Venezuela.
HE said that what your see on TV, it is 1000 times worse.
I asked him how he thought the crisis would come to an end. He thinks it will be civil war, but not before mass deaths from starvation.
something else, I went to Aruba and Curacao. Aruba is only 18 miles away from Venezuela by boat.
I asked several locals if there was an influx of Venezuelans and they said no. Apparently the oceans is too treacherous between the twos countries for people to come over on small boats.
Aruba and Curacao are Dutch Netherlands protectorates. only about 1% of the population are from Venezuela.
Thank the US Government and their Banking criminals for this Humanitarian Crisis in Venezuela. Only greedy Psychopaths find pleasure in Nation Destroying and Economic Genocide.
Vacuum sealers are very cost effective. You can use them to extend the shelf life of food. They can be used to store non-food items, as well.
Toilet paper will collect dust and dust mites if not kept in airtight plastic storage bags.
Extra wash cloths.
$3.00 Home Depot buckets.
Toilet seat $10.00.
Things you can not afford not to have.
Prepared food in the grocery climbed in price, while some food items fell in price. And this is hidden as portion sizes and total package sizes were reduced to hide the infation of prepared food.
So smart pragmatic folks buy in bulk prepper-style food and rotate it. Then they are in control of portion sizes and this is frugal over a year.
The most expensive is impulse buying prepared food. People will buy meat that seems marked down when actual many are bad deals versus bulk meat. Buying a prepared pie is outrageously expensive versus what a prepper does to make a pie. Lunch meat is ridiculously expensive.
Sometime the basics of prepping discussing the cost savings are helpful to convert people’s mindset. Likewise, as many no longer cook, then articles are why you should cook to get better nutrition, save money, and find enjoyment should be emphasized.
All of my kids learned to cook and most of them still do regulary and all do it occassionally and they do so as it’s fun and gives pleasure to guests and family members.
It stimulates conversation, something that most Millennials have no skill at doing. That is an opportunity to squash the agitprop they learn in public school and at the university. Now only a fool would send their kids to public school.
Socialists refuse to believe that there is anything inherently wrong with their beloved system of wealth redistribution.
They just assume that socialism failed because they didn’t do enough of it.