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"Venezuela is down to its last $10 billion"
03-03-2017, 11:25 AM
Post: #1
"Venezuela is down to its last $10 billion"
Looks like Venezuela's brand of socialism is bringing the country to the ground???!!!

"Caracas is running out of cash.

Venezuela only has $10.5 billion in foreign reserves left, according to its most recent central bank data.

For rest of the year, Venezuela owes roughly $7.2 billion in outstanding debt payments. .."

http://money.cnn.com/2017/03/01/news/eco...index.html

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03-03-2017, 11:30 AM
Post: #2
RE: "Venezuela is down to its last $10 billion"
But they have the resources to be a rich country: "Venezuela has the largest oil reserves, and the eighth largest natural gas reserves in the world..."
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03-03-2017, 12:08 PM
Post: #3
RE: "Venezuela is down to its last $10 billion"
(03-03-2017 11:30 AM)ba_dass Wrote:  But they have the resources to be a rich country: "Venezuela has the largest oil reserves, and the eighth largest natural gas reserves in the world..."

Absolutely meaningless right now. Oil reserves are at all time highs. They have to compete on the world market, which is already flooded. Their economy is corrupt and has nothing of merit outside the oil and gas industry. That is one fucked country.

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03-03-2017, 12:26 PM (This post was last modified: 03-03-2017 12:27 PM by Dagwood.)
Post: #4
RE: "Venezuela is down to its last $10 billion"
Less to do with socialism and more to do with economic sabotage by the US. See: Cuba.

China and Vietnam are not failng. Vietnam's doing alright and forecasted for 6.4% economic growth this year.

Neither is most of the socialist EU failing economically.
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03-03-2017, 12:32 PM
Post: #5
RE: "Venezuela is down to its last $10 billion"
+1
....
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03-03-2017, 12:33 PM
Post: #6
RE: "Venezuela is down to its last $10 billion"
Maduro and Chavez are trying to emulate Chairman Mao and not Xi Jinping. If their IQ were just a little bit higher Venezuelans wouldn't be starving right now.
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03-03-2017, 01:25 PM (This post was last modified: 03-03-2017 01:28 PM by Rako.)
Post: #7
RE: "Venezuela is down to its last $10 billion"
What Dagwood said.
(03-03-2017 12:33 PM)CTsar Wrote:  If they were more amenable to certain "foreign policy issues" their IQ were just a little bit higher Venezuelans wouldn't be starving right now.

You think the Saudis are economic 'geniuses', CTSar?

The Ummah ideology demands 0% interest lending, requiring different "workarounds".
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03-03-2017, 01:50 PM
Post: #8
RE: "Venezuela is down to its last $10 billion"
they are smart enough to play ball with the West to an extent, as is the current ccp in China.
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03-03-2017, 03:13 PM
Post: #9
RE: "Venezuela is down to its last $10 billion"
Chavez Socialism or Chinese/Vietnamese-style Capitalism or American Capitalism can't help Venezuela now---their government is corrupt and guilty of individuals who are misusing their offices to make money illegally...it's like ivory poachers who don't care if they kill all the elephants and rhinos on earth...
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03-04-2017, 02:54 AM
Post: #10
RE: "Venezuela is down to its last $10 billion"
(03-03-2017 12:26 PM)Dagwood Wrote:  Less to do with socialism and more to do with economic sabotage by the US. See: Cuba.

China and Vietnam are not failng. Vietnam's doing alright and forecasted for 6.4% economic growth this year.

Neither is most of the socialist EU failing economically.

Totally agree

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03-04-2017, 03:37 AM
Post: #11
RE: "Venezuela is down to its last $10 billion"
(03-04-2017 02:54 AM)PUG-THUG Wrote:  
(03-03-2017 12:26 PM)Dagwood Wrote:  Less to do with socialism and more to do with economic sabotage by the US. See: Cuba.

China and Vietnam are not failng. Vietnam's doing alright and forecasted for 6.4% economic growth this year.

Neither is most of the socialist EU failing economically.

Totally agree

Big difference between Mestizo nations and European/Asian nations.

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03-04-2017, 05:20 AM (This post was last modified: 03-04-2017 05:20 AM by Winnson.)
Post: #12
RE: "Venezuela is down to its last $10 billion"
(03-03-2017 11:30 AM)ba_dass Wrote:  But they have the resources to be a rich country: "Venezuela has the largest oil reserves, and the eighth largest natural gas reserves in the world..."

Yeah they had all that oil. Huge bank! Refine it ourselves? Oh no fuck that. That costs money and we need all our oil money for social programs! All for one and one for all!

Now, even with all that oil they can't refine themselves they're dirt poor, because refining their crude is too expensive.

That's ok though. All for one and one for all! Amirite guys? Look at all our crude oil reserves that no one wants because we can't refine it because we didn't want to spend money on that. We'll just get rich off the crude and everyone gets everything they need!

Will these fucking idiots ever learn? Socialism and Communism are never going to work. Never.

If there is no incentive for ability, humanity is done, in the simplest terms.

Everyone gets a trophy yayyyy! No losers in this game!

And then, we all starve.

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03-04-2017, 02:44 PM
Post: #13
RE: "Venezuela is down to its last $10 billion"
If IQ was such a critical predictor of state success, then Asian countries would have long ago been running the world; North Korea would not be such a basket-case of an economy; and European peoples would not be descending down a path of self annihilation.

IQ, whilst an important predictor, isn't the be all and end of all of a country's relative success or failings.

That countries that were previously the refuge of Bedouin dessert dwellers are currently amongst the most prosperous and powerful on the planet speaks to my point.
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03-04-2017, 03:01 PM
Post: #14
RE: "Venezuela is down to its last $10 billion"
(03-04-2017 03:37 AM)johan Wrote:  
(03-04-2017 02:54 AM)PUG-THUG Wrote:  
(03-03-2017 12:26 PM)Dagwood Wrote:  Less to do with socialism and more to do with economic sabotage by the US. See: Cuba.

China and Vietnam are not failng. Vietnam's doing alright and forecasted for 6.4% economic growth this year.

Neither is most of the socialist EU failing economically.

Totally agree

Big difference between Mestizo nations and European/Asian nations.

Cuba has a sizeable European population, as well as a long history of experiencing foreign military 'meddling'.

Despite its volatile history (with both the Spanish and the U.S. having 'intervened' there numerous times), it was a relatively prosperous Caribbean island up until the Castro Revolution.

I'm not aware of Asian economies performing particularly well under periods of economic blockades, puppet occupation, or military conflict, either.
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03-04-2017, 03:36 PM
Post: #15
RE: "Venezuela is down to its last $10 billion"
(03-04-2017 02:44 PM)BRIC Countries Wrote:  If IQ was such a critical predictor of state success, then Asian countries would have long ago been running the world; North Korea would not be such a basket-case of an economy; and European peoples would not be descending down a path of self annihilation.

IQ, whilst an important predictor, isn't the be all and end of all of a country's relative success or failings.

That countries that were previously the refuge of Bedouin dessert dwellers are currently amongst the most prosperous and powerful on the planet speaks to my point.

Success is not based on dominance over others. East asian societies are far more well functioning than just about any western society. Lower crime, lower drug abuse, higher education

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