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I don't need to Google it. I know Russia and China invest billions in Venezuela. It is you who needs to Google that Wall Street continue to buy bonds in Venezuela for billions of dollars. Sanctions do not apply to those people. If you try to sell food and medicine to Venezuela that's a different story. That's not allowed.
Yes I see US financial market bond sales to Venezuela in the millions. I also see investment from Russia and Chine in the billions. The US has already put a halt to the PDVSA bond market sales.
Thank you. Reading it confirms my initial idea. No significant change, just lip service for some reason.
It may have to do with this. This is the situation:
"The U.S.-led effort to force Venezuelan President Nicolás Maduro from office has moved into a new stage, with rising fears of military conflict between Venezuela and Colombia, and the activation of a 70-year-old mutual defense treaty among countries of the Western Hemisphere." https://www.washingtonpost.com/natio...outputType=amp
Not significant to you... inflation went down over 10 fold, and the populace is sensing some positive change.
Not their fault that you are put off because they are trying what has been proven to work in the past.
Yes I see US financial market bond sales to Venezuela in the millions. I also see investment from Russia and Chine in the billions. The US has already put a halt to the PDVSA bond market sales.
Really? you may need help googling. Try $2.8 billions from just one bank. They only paid a third of it because that's what the real gangsters in Wall Street do to corrupt countries. There are more example I'll link just this one. https://www.theguardian.com/world/20...enezuela-bonds
Quote:
Originally Posted by DRob4JC
Not significant to you... inflation went down over 10 fold, and the populace is sensing some positive change.
Not their fault that you are put off because they are trying what has been proven to work in the past.
OK. Believe whatever you like about the "free" market. The fact is that before Maduro the price of oil was about $100 in 2014, then it dropped to less than 50 and stay low until last year. It has been going up since. About $65 now if I'm not mistaken for OPEC.
The late Hugo Chavez was a true-believer socialist. He was a voracious reader who became a persuaded socialist as a young military officer.
His chosen successor Maduro was a bus driver who never went to college, and mainly became Chavez's sidekick because Maduro was willing to patiently smile and endure insults during Chavez's marathon chat sessions on state-run TV. It may be that Maduro is less ideological and thus willing to dial back socialist policies.
President Nicolás Maduro ’s authoritarian government, long a practitioner of tight state control of the economy, has quietly and cautiously begun implementing free-market policies to tame hyperinflation and correct an economic contraction worse than America’s Great Depression. So far, that approach is providing a sliver of light to the moribund economy.
In recent months, the regime has scaled back its once frenzied printing of money, nearly ended frequent salary hikes, and largely stopped enforcing the price controls that had led to dire food shortages and a thriving black market. Inflation has fallen from a peak 12-month rate of 2.6 million percent in January to 135,000% in August, the National Assembly says.
...
Retailers now frequently accept greenbacks or sell once-subsidized staples in the local currency, the bolivar, at much higher prices. Here in the capital, where food shortages and blackouts aren’t as critical as in other cities, new stores have popped up selling everything from $15 boxes of Cheerios to $3 bottles of water.
...
The new reality is welcome news for Venezuelans with dollars, which had been illegal to trade until this year without special state approval. But the lifting of exchange controls has harshly illuminated the paucity of the national minimum wage, worth less than $2 a month.
The Venezuela mess does not have much to do with Socialism. It is simply about an incompetent president and the country's dependence on the export of oil. And of course the sanctions are to blame for most of the problems now, Venezuela could already be doing fine again without those ideological, genocidal sanctions. The time when Venezuela's problems could be attributed to their leadership ended years ago.
Let's face it, the system that works best is a mixed system, i.e. some market economy, but at the same time state-run entities in crucial areas and strong regulation for the market part.
Modern Socialism came about as a possible solution for the massive problems capitalism brought about.
In one form or another, Socialism has been around for like 2 millennia or more, although it was not called by that name, of course.
Having a state-owned and run oil and gas company is fine, Norway does it, China does it, Russia does it, all of them successfully. It all depends on how it is done. After all, state-run companies are also run by managers etc. And those are not worse or incompetent just because they work for a state-run company. Nor are private companies safe from horrible management, think of all the banks and companies that go broke.
The Venezuela mess does not have much to do with Socialism. It is simply about an incompetent president and the country's dependence on the export of oil. And of course the sanctions are to blame for most of the problems now, Venezuela could already be doing fine again without those ideological, genocidal sanctions. The time when Venezuela's problems could be attributed to their leadership ended years ago.
The mess has everything to do with socialism. We've been over and over this. Venezuela has always had significant problems with corruption, and have long been dependent on oil. Yet until Chavez, an avowed socialist, came along in 1998, they were the wealthiest country in South America by most accounts.
Chavez was first elected in 1998, and started gradually implementing socialist policies. Everything from state-owned/operated farms to state-owned/operated grocery chains. By 2012, a massive diaspora of Venezuelans had started in response to economic distress. The first sanctions did not come until 2015, so it's incorrect to blame them. The blame lies with the socialist policies of Hugo Chavez.
Maduro is still in power? I thought trump was going to get rid of him?
Does EVERY thread have to turn into a TDS thread?
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How can this be?
