31–40 of 82 posts
http://www.xe.com/currency/vef-venezuelan-bolivar
So I guess the situation improved in June/July?
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It always works until it doesn't. Sweden will have a particularly tough time in coming years.
Why?
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> We don't need you. Don't speak for me. Given at least half of us have no idea what 10.3$/month is, why don't one of you enlighten us and let us draw our own conclusions?
So, I'll freely concede that I'm ignorant on the issue, but Bonsanto made an extraordinary claim below (that government forbids buying non-Venezuelan currency) that despite my initial idea, turns out to appear truthful. So, According to this somewhat recent article by Bloomberg[1], "A school teacher with 25 years of experience made 9,786 bolivars a month in 2014. That's about $35 a month at the current black market e…
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The Fed doesn't "give" money to anyone. They buy treasury bonds from the US government.
You mean, instead of giving the government money directly, there's an extra step whereby the government issues bonds and the central bank buys them?
Assuming QE ever ends of course.
I wonder why there's inflation in Venezuela, and not e.g. in the EU or the US. In particular, how is the printing of money by Venezuela different from the printing that goes on in the West (Quantitative Easing). I guess the only difference is that in the West, the money goes mostly to the banks, which distribute it to the companies or invest it in the stock market and real estate. Consequently, the rich get richer an…
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It always works until it doesn't. Sweden will have a particularly tough time in coming years.
I don't think that's so clear. But even if it's true, "works until it doesn't" is probably the best thing that can be said of any political/economic system to date. Free market capitalism has its own problems and its flagship country, the US, is increasingly considered to be in decline.
Yes, it is clear. When you have a system in place that is predicated on having enough productive citizens to support the non-productive ones and your birth rates have fallen off a cliff you're in for trouble.
> Free market capitalism has its own problems and its flagship country, the US, is increasingly considered to be in decline.
Never said the US doesn't have problems. Just pointing out that socialism also has its own problems. No economic system is perfect.
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I live in Venezuela and item's prices are raising horrible, let me tell you something I am electrical engineer and computer engineer, and my salary is only 10.3$/month, ridiculous, but his is how socialism works everyone are equalized but to poverty. To buy a car in Venezuela you need to save money for 50 years without buying food supplies, to buy a house it takes 200 years, to buy dollars you need to be a friend of…
I am not in Venezuela, but I work with some guys there. Your "10.3$/month" is a blatant, and pretty absurd lie. If this account created a few minutes ago is going to be used to spread lies, please use it somewhere else, not in HN. We don't need you.
Yes you need him, dude. You need every engineer you have, if you don't want to go back to medieval times.
Add with it today's stock market collapse around the globe and we are possibly entering another recession. Indexes are down 7% in Dubai/Saudi and 3% in USA.
The US economy is actually doing quite well. Stocks are not overvalued, commodities are cheap, jobless rate is going down, and housing is at 2004 levels. Fundamentals suggest the bull market could last at least a few more years, yet cash levels are at their highest since 2009. This correct is a great buying opportunity for anyone who has stood out of the market for the past few years.
The United States has been working on a coup for Maduro, since its coup of Chavez hasn't worked out for it. This time it would really like to install Leonardo Lopez as he's willing to privatize Venezuelan oil to US companies. The US has been encouraging and organizing protests, gatherings and projecting anti-Maduro sentiment and news into the country. ( https://wikileaks.org/gifiles/releasedate/2012-06-18-08-canv...…
I don't discount American involvement but I'm not sure that oil is the great driving factor it may have been historically, the Americans are producing enough of their own.