Results 1 to 2 of 2

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

  1. #1
    Senior Member JohnDoe2's Avatar
    Join Date
    Aug 2008
    Location
    PARADISE (San Diego)
    Posts
    96,180

    Venezuela: How paradise got lost


    [COLOR=rgba(38, 38, 38, 0)]A demonstrator stands in front of an armored riot police vehicle during a rally against Venezuelan President Nicolas Maduro on April 19, 2017.
    [/COLOR]
    Venezuela: How paradise got lost

    By Ray Sanchez, CNN
    Updated 2:34 PM ET, Fri April 21, 2017

    (CNN)From its Caribbean beaches to the snow-capped Andes, Venezuela is a place of astonishing natural beauty. It also possesses the largest proven oil reserves in the world.

    Many in a thriving professional class left the country when the late Hugo Chavez took power in 1999, but the early years of his rule saw a massive reduction in poverty, more children in school, and greater access to clean drinking water.

    Today, however, Venezuelans are dealing with the highest rate of inflation in the world, bloody street protests and a climate of chaos. How did a potential paradise become so lost? Here are a few answers:


    Plummeting oil prices put economy in reverse


    Oil revenue fueled Venezuela's economy under Chavez. When oil was $100 a barrel, billions flowed through the state-owned petroleum company and were siphoned off for social programs and food subsidies. But when oil prices fell dramatically, those massive subsidies became unsustainable.

    5 reasons why Venezuela's economy is in a 'meltdown'


    The flow of dollars slowed to a trickle


    Crashing oil prices also left the government with less foreign currency to buy goods from other countries. Venezuela's imports are down 50% from a year ago, according to Ecoanalitica, a national research firm. Now there are critical shortages of essential imports, including vital medicines.



    Venezuela asks UN for help as medicine shortages grow severe

    Price controls are just another problem




    Venezuela government refuses international aid 02:01

    Under Chavez, the prices of key items were slashed so that everyone could afford them. The official price for a bag of corn flour, used in the national staple dish arepas, is 639 bolivares. That's affordable for many people -- but the price of flour is below the cost of production. Domestic producers have stopped making corn flour. And even with the official price being low, there aren't any bags of flour to be bought.


    People line up to buy bread in Caracas amid shortages and skyrocketing prices on all types of goods.

    Country down to its last $10 billion




    Venezula only has $10.5 billion in foreign reserves left, according to recent data from the Central Bank of Venezuela. For the rest of the year, it will owe roughly $7.2 billion in outstanding debt payments. The financial clock is ticking.

    The 'Maduro diet'


    Rampant inflation has meant more people are skipping meals and the percentage of malnourished Venezuelans is growing rapidly, according to an annual national survey by three of the country's major universities and other research groups.

    Many have dubbed this phenomenon the "Maduro diet," a reference to embattled President Nicolas Maduro, who has said that doing without "makes you tough."


    GM isn't only company in crisis in Venezuela


    Pain turns to rage -- and protest


    The country has been riven by violent protests in recent weeks as opposition leaders face off with Maduro supporters.

    Anti-government protesters want Maduro to step down, accusing him of eroding democracy. Maduro, meanwhile, has sent the Venezuelan military onto the streets to maintain order.





    Photos: Anti-government protests in Venezuela

    A demonstrator stands in front of an armored vehicle during protests Wednesday, April 19, in Caracas, Venezuela. Opposition leaders called protesters to the streets of the capital on the national holiday that marks the beginning of the struggle for Venezuela's independence from Spain. President Nicolas Maduro and his supporters called for a countermarch on the same day. Several people were killed when protests turned violent.


    What's the government doing?


    Former President Hugo Chavez, President Nicholas Maduro and opposition leader Henrique Capriles.


    Many who blame Maduro for the crisis took to the streets after the administration barred opposition leader Henrique Capriles from running for any political office for 15 years. The Supreme Court dissolved parliament, transferring legislative powers to itself. That left the two remaining branches of government controlled by Maduro's ruling United Socialist Party. The opposition said it was a coup. The court's decision was reversed, but protests had already erupted against Maduro.

    What's it like to live like this?





    The impact of the country's problems are all too obvious to most Venezuelans.

    • Shortages of food and home staples like milk, flour and toilet paper
    • Shortages of medicine
    • Rolling blackouts
    • Rising unemployment
    • Soaring violent crime
    • Even malaria, once almost eradicated, is back on the rise.


    http://www.cnn.com/2017/04/21/americ...sis-explained/

    NO AMNESTY

    Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.


    Sign in and post comments here.

    Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn

  2. #2
    Senior Member JohnDoe2's Avatar
    Join Date
    Aug 2008
    Location
    PARADISE (San Diego)
    Posts
    96,180
    NO AMNESTY

    Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.


    Sign in and post comments here.

    Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn

Similar Threads

  1. Venezuela's Middle Class Flees Venezuela for Miami
    By AirborneSapper7 in forum General Discussion
    Replies: 1
    Last Post: 03-09-2014, 12:18 AM
  2. One man's war zone is another's paradise
    By JohnDoe2 in forum illegal immigration News Stories & Reports
    Replies: 0
    Last Post: 12-14-2009, 02:16 AM
  3. A Little Paradise in Europe
    By FedUpinFarmersBranch in forum Other Topics News and Issues
    Replies: 1
    Last Post: 02-02-2009, 11:18 PM
  4. Paradise lost
    By FedUpinFarmersBranch in forum illegal immigration News Stories & Reports
    Replies: 7
    Last Post: 06-18-2008, 12:32 PM
  5. Teachers in Paradise?
    By crazybird in forum Other Topics News and Issues
    Replies: 0
    Last Post: 05-02-2006, 03:23 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •