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Page added on June 9, 2016

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Venezuela Is at a Breaking Point

Every week, hosts Tori Stilwell, Dan Moss and Aki Ito bring you a jargon-free dive into the stories that drive the global economy.

Venezuela, home to the world’s biggest oil reserves, is in the throes of economic crisis. With inflation projected at nearly 300 percent this year, how do Venezuelans live amid six-hour lines for groceries, crumbling hospitals and growing violence? Nathan Crooks, Bloomberg’s Caracas bureau chief, walks Aki and guest co-host Catarina Saraiva through his daily life, how things got so bad and what’s next for the troubled country.

bloomberg



36 Comments on "Venezuela Is at a Breaking Point"

  1. Dustin Hoffman on Thu, 9th Jun 2016 11:32 am 

    Send in the US Marines and install some law and order….naturally by those in Capital Hill and Wall Street!
    Rinse and repeat

  2. claman on Thu, 9th Jun 2016 11:57 am 

    Too many people relying on a source that can’t be eaten. Too many people relying on on BAU without a thought of tomorrow.
    Next stop is Nigeria and KSA.
    Come on Theedrich, we hear you.

  3. HARM on Thu, 9th Jun 2016 12:24 pm 

    “Next stop is …KSA.”

    Stop getting my (false) hopes up. Last time I checked, the KSA zealots in chief were still in power, still exporting hate, extremism, and misogyny, still chopping off heads and other body parts, still wildly popular among their on-the-dole populace, and still very, very rich.

    Oh, and still benefitting from “most favored/friends and family” status with the Great Satan. Odd friendship our elites have built with one of the most oppressive and anti-American powers on earth. Realpolitik aside, the U.S.-KSA alliance is like going to bed with Lorena Bobbitt.

  4. claman on Thu, 9th Jun 2016 12:55 pm 

    Harm, if Hillary wins I don’t think Lorenas trick would have any effect 😉
    Anyway, KSA would have to reinvent them selves to change their country’s trajectory, and I don’t think that is gonna happen.
    Western Germany struggled a long time with the eastern germany mind after the reunion of the two countries. Some say they still do.
    You can’t change a population overnight, it takes generations of hard work and disciplin. Venezuelans didn’t seem to know any better.

  5. makati1 on Thu, 9th Jun 2016 7:08 pm 

    Watch the events in Venezuela carefully, Americans. That experience is coming to American shores. Are you prepared?

  6. HARM on Thu, 9th Jun 2016 8:48 pm 

    @makati1,

    Venezuela is a poor, backward, corrupt, badly governed small country that is almost wholly dependent on oil exports and >$100/BBL oil, and also imports 2/3rds(!) of its food.

    The U.S. is rich, highly developed (but also corrupt and badly governed) large country with a very diversified economy. It is also an agricultural powerhouse and the world’s #1 exporter of food. We grow so much food, in fact, our #1 health problem is obesity and obesity-related disorders, like diabetes. We also have a gigantic military that, despite being an enormous financial drain on its citizens, ensures that when the collapse comes, the U.S. will likely be the last man standing.

    I am not at all sanguine about humanity’s long-term prospects, but at least I’m living in the country most likely to survive the longest.

  7. Davy on Thu, 9th Jun 2016 9:00 pm 

    The Venezuelan experience is coming to all shores it will be the scale that differs. Timing and degree of shock will differ. It is likely in Asia the worst will be felt considering the population densities. Venezuela is lucky they are collapsing in a functioning global world. It will be much worse to be a collapsing country in a collapsing global world.

  8. In the middle on Thu, 9th Jun 2016 10:10 pm 

    Mak, as long as people (you, for instance) continue to buy American products and depend on American military for security, Americans have little to worry about. If a country such as China accumulates too much currency (dollars) causing a shortage, they will simply print more. And if for some reason they decide to dump all currency at once, what will they get in return? Nothing but loss. No worries for America.

  9. makati1 on Thu, 9th Jun 2016 10:50 pm 

    HARM ,you are drinking that government Koolaid again. The US is the most corrupt country ion earth. It is not wealthy. It is the world’s largest debtor nation with its people drowning in debt. It’s military has not won a war in 70 years. It exports chaos and war, nothing of value. It imports half of it’s energy needs and most of its necessities. Wake up to reality before that 2X$ hits you in the face.

  10. makati1 on Thu, 9th Jun 2016 10:56 pm 

    In the middle, I do NOT rely on the American military for anything and neither do you. They are for corporate protection, not yours.

    I also buy very little that is made in America. Do you know that you can live a good life and not notice if America is gone? I can count the American made item on one hand that I still buy and few of those. I prefer Philippine made items and food. And most everything else comes from Asia, South America, Europe or Africa. Not America.

    BTW: my trip to the Us is on Chinese and Japanese airlines, not American. The service is much better and the planes cleaner.

  11. Anonymous on Fri, 10th Jun 2016 2:16 am 

    Venezuela is a poor, backward, corrupt, badly governed small country that is almost wholly dependent on oil exports and >$100/BBL oil, and also imports 2/3rds(!) of its food.

    Opz, someone forget to edit that properly.

    Not to worry, I got this one.

    amerikkka is a poor, backward, corrupt, badly governed oversized country that is almost wholly dependent on oil imports and >$100/BBL oil, and also imports 2/3rds(!) of its food.

    Much betta….

  12. theedrich on Fri, 10th Jun 2016 2:42 am 

    Venezuela:  poster child for Obama/Hillarism.  Starting out with a majority low-IQ mud population (the kind the Demonic Party is importing into the U.S.), it adopted a corresponding political regime (“Chavismo,” after Hugo Chavez) amidst great hoopla.  Then, in a monoculture land dependent on oil, even though having other great resources, the usual subhuman “liberal” attacks on the goose that lays the golden eggs became all the rage.  The muddies loved it while high oil prices lasted.  They expected BAU forever.  (Sound familiar?)

    In 2002/3 the maximo lider fired over striking 20,000 employees of the state oil company, Petróleos de Venezuela, S.A. (PDVSA), so its technicians migrated elsewhere, followed by over a million middle/upper-class (i.e., higher-IQ) inhabitants — a massive brain drain.  PDVSA maintenance and technical competence suffered severely.  Next came fracking and low oil prices worldwide, and the festive party ended.

    The result?  A land awash in murders (highest rate in the world after Honduras), kidnappings and every other type of crime, not to mention serious decay of the impoverished (but free) Ø-care-like medical system.  (Of course, V’s government does make money by using the country as a transit avenue for shipping Colombian narcotics to the U.S.)  But ideal for stupido immigrants from everywhere.  The political opposition has no power, because once lefties gain supreme command anywhere, change is impossible.  For, as that glorious Chink, Mao Zedong, is said to have once explained, “power grows out of the barrel of a gun.”

    It all gives us a good idea of what to expect if the Demonics win with hellish Hillary in November 2016.

  13. Kenz300 on Fri, 10th Jun 2016 4:32 am 

    Too many people demand too many resources……yet the worlds population grows by 80 million every year…..

    How many charities are dealing with the same problems they were dealing with 10 or 20 years ago with no end in sight. Every problem is made worse by the worlds growing population.

    If you can not provide for yourself you can not provide for a child.

    Birth Control Permanent Methods: Learn About Effectiveness

    http://www.emedicinehealth.com/birth_control_permanent_methods/article_em.htm

  14. Dustin Hoffman on Fri, 10th Jun 2016 8:12 am 

    But it MY right to have as many chillins as I WANT….if you disagree, RACIST
    (Sarc)

  15. JuanP on Fri, 10th Jun 2016 8:28 am 

    Thee “… followed by over a million middle/upper-class (i.e., higher-IQ) inhabitants”
    I have never seen any correlation between intelligence and social or economic status. I have always seen a correlation between excessive ambition, greed, selfishness, psychopathy, and antisocial behavior in families and the amount of money they have. Being smarter doesn’t make you rich, being mean and selfish does. I know an awful lot of very rich people and most of them are incredibly stupid, ignorant, and mentally ill.

    My guess is, Thee, that you come from a lower social class and have no first hand experience of these matters.

  16. JuanP on Fri, 10th Jun 2016 8:41 am 

    Davy “Venezuela is lucky they are collapsing in a functioning global world. It will be much worse to be a collapsing country in a collapsing global world”
    I couldn’t agree more. I always think that people like the Cubans, who have been collapsing for decades, will have a serious advantage when things start getting really tough. They have a completely different way of experiencing life and significantly lower expectations which will make it much easier for them to adapt. The differences in character and personality between the Cubans who experienced the Special Period and those who didn’t are obvious and remarkable. The Cubans who went through the SP in Cuba during the 90s are more humble and realistic and have a whole lot more common sense in them than almost anyone else around me in Miami. Venezuelans are going through something similar today and it will help them in the future. A lot of unrealistic expectations are being crushed in Venezuela today.

  17. ghung on Fri, 10th Jun 2016 8:49 am 

    “Collapse now and avoid the rush….”

  18. Davy on Fri, 10th Jun 2016 10:01 am 

    Yea, Juan, of all the people on this earth Cubans have to get my highest admiration in regards to collapsing in place and continuity of culture. We have so much to learn from Cuba when they went through their special period post USSR. They remained whole and did not collapse even with the insane US sanctions.

    One wonders though if their current detente with the US will be their undoing. Yet, depending on the rate of global collapse Cuba may be a world leader in collapse mitigation knowledge and offer the US a kind of “reverse engineering”. We sure need it.

  19. Apneaman on Fri, 10th Jun 2016 2:54 pm 

    The SNAP of Doom

    “But you do not have to be a bleeding-heart liberal to find this problem appalling. The SNAP, or EBT, card is how we deliver food assistance to people who otherwise would be in line at some government agency, lines whose size and desperation would dwarf anything seen in the Great Depression. There is virtually no margin for error here before people start to starve. (What’s that you say? A huge government computer system with no margin for error? What could possibly go wrong?)

    And if you have no pity for the starving (because obviously if they had good character they would be successful like you), consider this: before they starve they are going to burn your country down around your hard of hearing ears.

    People who have not read history and who have no empathy and are childishly simplistic in their comprehension of the world — you know, people like Donald Trump — have no idea what has happened in the past (“Let them eat cake!”), what is happening right now (People are dying in massive riots around empty grocery stores in Venezuela.) or what could happen any minute if another lit match is thrown into that tinder box (“Drug test them!” “Reduce and restrict benefits!” “Make ‘em work for it!”)”

    http://www.dailyimpact.net/2016/06/10/the-snap-of-doom/

  20. Apneaman on Fri, 10th Jun 2016 2:57 pm 

    The Money Cult (Dmitry Orlov on Negative Interest Rates)

    “But first let us back up a bit and answer several preliminary questions:

    1. Why did zero interest rates become necessary?
    2. Why are negative interest rates now necessary? and,
    3. Why are negative interest rates a really excellent idea?*

    * if you ignore certain unintended consequences (which is what everyone does all the time, so let’s not worry about them just yet).”

    http://cluborlov.blogspot.ca/2016/06/the-money-cult.html

  21. Go Speed Racer on Fri, 10th Jun 2016 5:43 pm 

    The solution to all the problems in Venezuela, is Apple will sell them all I-phones.

  22. Survivalist on Fri, 10th Jun 2016 7:27 pm 

    Everything south of Texas is pretty much on the road to collapse. Guatemala, Honduras and El Salvador (the Northern Triangle) taken as a whole have a murder rate that exceeds Venezuela. Think 13 century England run by cocaine gangs. Mexico will collapse shortly as taxes on Pemex provide 30% of government revenue and Mexico will soon shift from oil exporter to oil importer.

    The list of failed states continues to grow.

    http://www.insightcrime.org

  23. Survivalist on Fri, 10th Jun 2016 7:41 pm 

    Soon USA shall face an influx of unregulated mass migration from the south.

    http://www.migrationpolicy.org/article/increased-central-american-migration-united-states-may-prove-enduring-phenomenon

  24. makati1 on Fri, 10th Jun 2016 9:02 pm 

    Nah! Trump will build a big smelly wall out of Washington bullshit and they will be contained. LMAO.

    Yes, Survivalist, you are correct on both counts, but as the murder rate of Detroit and Chicago spreads out, the Us will be the murder capital of the world. Number One!

    So many guns.
    So many drugs.
    So much to kill for.

  25. JuanP on Fri, 10th Jun 2016 9:21 pm 

    Survivalist “Soon USA shall face an influx of unregulated mass migration from the south.”
    I expect quite the opposite to happen based on current trends. Many migrants are leaving the USA and returning to their home countries or moving on elsewhere. I think that the USA is deteriorating faster than South America. Most of the bad news about South America are propaganda pieces or articles on the terrible destruction that the USA is sowing across the continent. The USA is back in full force in South America provoking coups, assassinating the opposition, bribing, torturing, and what not. I fuck myself on their mothers.

  26. GregT on Sat, 11th Jun 2016 1:08 am 

    “Soon USA shall face an influx of unregulated mass migration from the south.”

    Soon there won’t be anywhere worth migrating to, at least not in the Northern hemisphere. Better off moving to New Zealand.

  27. Survivalist on Sat, 11th Jun 2016 1:19 am 

    While it is true that the number of me I ans coming to the USA is decreasing and many are returning it is not true that migration from Central America to USA is decreasing. Read the links I posted. Maybe you didn’t read the news in 2014?

    https://en.m.wikipedia.org/wiki/2014_American_immigration_crisis

    The number of migrants from Central America is going to increase due to crime and drought. A wall will not stop it. In the near future they will come by boat and by foot.

  28. GregT on Sat, 11th Jun 2016 1:24 am 

    “The number of migrants from Central America is going to increase due to crime and drought.”

    And the number of migrants in North America are going to eventually increase from the West to the East, and from the North to the South.

    Better off moving to New Zealand. At least for a while.

  29. Survivalist on Sat, 11th Jun 2016 1:34 am 

    http://www.migrationpolicy.org/research/migrants-deported-united-states-and-mexico-northern-triangle-statistical-and-socioeconomic

    Unregulated mass migration. These people aren’t coming to pick seasonal and do your landscaping fruit like the Mexican workers of the past. They are fleeing collapsed states in Central America.

    Yes Greg move to New Zealand if you like. Great idea. Thanks for the thoughtful and well referenced input. We should all take your words to heart. Thanks for sharing your boundless wisdom.

  30. GregT on Sat, 11th Jun 2016 1:35 am 

    And if I might add Survivalist. This isn’t going to be a national problem. It is going to be a human problem. Globally.

  31. GregT on Sat, 11th Jun 2016 1:43 am 

    “Thanks for sharing your boundless wisdom.”

    Glad to be of assistance Survival. If you have any more questions, please don’t hesitate to ask.

    https://2.bp.blogspot.com/-15ZsKi7MXOY/V0mCtENuf-I/AAAAAAAAUsc/Tsa0bDFAeOkYuSWmJYpUxw2kICj8DTaUgCLcB/s640/Maps.png

  32. Survivalist on Sat, 11th Jun 2016 1:44 am 

    Here is a link with info on moving to New Zealand.

    https://www.immigration.govt.nz/new-zealand-visas/options/live-permanently/explore-visa-options-for-living-permanently

    Perhaps you should consider investigating the merit of your ideas before you spew them out lest you be considered a fool with nothing of significant value to share. Shoot from the lip. I fear I have stumbled upon a comment board populated by low functioning troglodytes.

  33. GregT on Sat, 11th Jun 2016 2:04 am 

    Bummer about New Zealand’s immigration policies. I think that it should already be blatantly obvious that national immigration policies are becoming seriously problematic.

    Like I said above, it is going to be a human problem. Globally. Nowhere to run, and nowhere to hide. If you for one second believe that your locale will be spared, then it is you who is the low functioning troglodyte. The Earth doesn’t give a rat’s ass about human imaginary lines drawn in the sand.

  34. Davy on Sat, 11th Jun 2016 6:45 am 

    We have no way of knowing New Zealand is the true refuge. It is likely a refuge based on climate change speculation. Antarctica will offer moderation to the heat in the far south “maybe” but we don’t know. We just don’t know these things and to think we do is the same old thinking Mark Twain talked about when he said “”It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so”.

    The main issue is soon migrations are not going to happen as they do now for the reasons the do now. Central American’s are not going to make the journey for the same reasons when North America is in a state of economic collapse. These people will be resisted by peoples already under stress. The current reality of immigration is dated. I give it less than a decade and within this process the change will be nonlinear so in 5 years or less immigration will be transformed. The wall that can be built is the wall of reality. This reality of collapse is the journey will be worse than collapsing in place. People will still try and they will likely die.

  35. Kenz300 on Sat, 11th Jun 2016 7:14 am 

    The worlds poorest people are having the most children. They have not figured out the connection between their poverty and family size. Endless population growth is not sustainable.

    If you can not provide for yourself you can not provide for a child.

    Birth Control Permanent Methods: Learn About Effectiveness

    http://www.emedicinehealth.com/birth_control_permanent_methods/article_em.htm

  36. Kenz300 on Sat, 11th Jun 2016 7:15 am 

    Too many people demand too many resources……yet the worlds population grows by 80 million every year…..

    How many charities are dealing with the same problems they were dealing with 10 or 20 years ago with no end in sight. Every problem is made worse by the worlds growing population. If you can not provide for yourself you can not provide for a child.

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