Venezuela will see its economy shrink more than any other country in the world this year as lower oil prices drain government coffers, according to the International Monetary Fund.
“Venezuela is projected to experience a deep recession in 2015 and 2016,” the IMF said Tuesday in its World Economic Outlook. The country’s real gross domestic product probably will contract 10 percent this year and 6 percent in 2016, it said.
10%? That is not a recession, that is a Depression.
Why do I think the only solution they will try is More Socialism?
Sorry to say, yep!
But Sean Penn thinks the government is wonderful.
Perfect destination for the Tommunist should he fare poorly in the election. Perhaps a 3rd allegiance to add to his citizenship collection would be a priority. Then he can run for el presidente on a platform that carbon credits will resolve the financial crisis there. It truly is his calling when you think about it.
I will never forget the many Canadian lefties, including working journalists, who loudly cheered the “progressive” Venezuelan government.
You have to love the Shadenfreude! The government is in the process
of revoking Maria Conchita Alonso’s citizenship because she criticized
the communist government. This from the woman who called Sean Penn
a communist asshole during a confrontation at LAX. Venezuelas economy
is circling the bowl. Given how quickly they are wrecking the country,
Alonso may outlast the communist government there.
All of the above with special mention to frs.
Socialism works so well.
This kind of stuff should be waved in front of every silly socialist in the country and made mandatory reading. Trudeau and Mulcair would bankrupt Canada for their socialist ideals.
VOTE ABC: Anybody but Communists!!!
Prediction – Maduro won’t last long – mainly because he is holding up an economic boom waiting to happen from the European diaspora of mobile middle class looking for a place to escape the tax repression and cultural suicide happening in the EU;
An injection of Euro wealth, capital and skills could get the country back on the rails – but they have to ditch the old line D9 cat commies first.
Well if you’re too dumb to learn from the USSR, and the differences between East & West Germany, North & South Korea you’re going to have to learn the lessons for yourselves.
The question is where is Venezuela’s Lech Walesa or Vaclav Havel? Hopefully Maduro’s haven’t shot him or her.
Venezuela has a lot of very poor illiterate people.
They were the ones who, studies have shown, elected Hugo Chavez, twice.
It shouldn’t be a surprize that the people who elected Chavez knew nothing about the USSR, East Germany, North Korea, Cambodia, Zimbabwe, etc., they are largely illiterate and Chavez renamed Venezuela ‘the Bolivarian Republic of Venezuela’ because that is all these illiterate South American people know, the myth of Simón Bolívar.
Hugo Chavez essentially ran on a platform of pretending to be the new living embodiment of Simón Bolívar.
Strangely, Karl Marx, who while younger was roughly a contemporary of Simón Bolívar, was highly critical of Bolívar and yet here we see Chavez and his stooges wrapping themselves in the myth of Simón Bolívar but implementing Marxism in Venezuela.
At some point all these countries demonstrating they are not secure places to lend to, somebody is going to start making it more expensive to borrow.
This would start the domino effect of rising interest rates making it harder for government to fund its spending. Faced with having to cut spending or raise taxes or borrow more at higher interest.
Yeah sure budgets balance themselves…whatever.
Señor Manuro is the victim of wreckers, saboteurs, Jews, and America. Socialism in Venezuela has not been given a chance. On the plus side, Manuro has greatly reduced inequality in his country.