Title : Venezuela's Economy Has Completely Collapsed
link : Venezuela's Economy Has Completely Collapsed
Venezuela's Economy Has Completely Collapsed
Streets of #Caracas #Venezuela empty this morning #20Ago after Socialist dictator Maduro pronounced devaluation of currency pic.twitter.com/W3fb8djqhg— Michael Welling (@WellingMichael) August 20, 2018
Monica Showalter, American Thinker: Venezuela's economy in complete collapse – and the mother of all human waves outward begins
As Brazilian troops move toward the Venezuelan border to sort that hell out, and Argentina of all places takes Venezuela to the World Court for crimes against humanity, and the U.S. sends out the USNS Comfort to aid thousands of Venezuela's starving, sick refugees desperately huddled in Colombia, there's obviously a whirlwind coming that that socialist regime is overdue to reap.
Economically, they've just committed suicide, with dictator Nicolás Maduro's socialist solution for the country's economic meltdown a simple matter of lopping five zeros off the virtually worthless currency, as if that will fix the five-digit-going-on-a-million-percent inflation, devaluing it 95%, pegging it to a made up crypto-currency that's even skeezier than bitcoin, known as the "petro," and raising the minimum wage 6,000%, a move that will shut down pretty much every private business left in Venezuela, given that businesses cannot raise prices.
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Update #1: Some Venezuelans, alarmed by Maduro's measures, speed up plans to flee (Reuters)
Update #2: Venezuela: New currency fails to curb hyperinflation (Al Jazeera)
WNU Editor: I still have one reader in Caracas who informs me on what is happening in that country. He texted me on Monday that for the first time in his lifetime there was little if any traffic on the streets that morning. I was skeptical until I saw the above tweet and clicked on the photo. There are no cars on the street. My reader also tells me that everyone is now leaving. It is now impossible to survive in Venezuela unless you are an officer in the security forces or a senior manager in government.
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