Democratic/social control of the economy is the necessary precondition for a socialist society. Venezuela doesn't have that. Greedy rich people control their economy like they do every capitalist economy and they are slowing down the Venezuelan economy intentionally to force the left government from power there.
The telescreen doesn't say that but that is what is really happening. The telescreen is largely propaganda from rich people. Educated people like me do not take it very seriously.
Trotsky on the Folly of Terrorism
“Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself.” - Mark Twain
★ Economic Update ★ Contending Economic Theories: Neoclassical, Keynesian and Marxian ★ Sociological Marxism ★ American Society ★
"Under no pretext should arms and ammunition be surrendered; any attempt to disarm the workers must be frustrated, by force if necessary." - Karl Marx
As Jill Stein and Ms Clinton demand recounts, their ideological kinsmen in Venezuela plan to solve their economic problems by printing more paper money.
On a busy road nearby, a couple of taxi drivers waited idly for their next customers. The eldest, a 70-year-old man who spoke on condition of anonymity, said that customers will sometimes hand over a stack of 100 20-bolivar notes to pay for a 2,000-bolivar fare.
The shrinking value of the currency has meant that withdrawing the equivalent of $5 from the ATM produces a fistful of at least 100 bills. Some ATMs now need to be filled every three hours, since the machines can hold only so much cash. Because of the difficulties in restocking the machines, there are often a limited number of functioning ATMs and endless lines of people waiting to withdraw money.
The hassles over cash have prompted many Venezuelans to pay their tabs with credit cards. The owner of a local cafe, who declined to give his name, said that 90 percent of his business’s earnings were paid electronically.
Electronic payment is increasingly common in the country, said Henkel Garcia, director of the Venezuelan economic think tank Econométrica. “The use of online payments is likely to have soared.”
But it is expensive for small businesses to buy and set up credit-card machines.
President Nicolás Maduro, who came to power in 2013 and has continued the socialist policies of his predecessor, Hugo Chávez, blames the country’s woes on an “economic war” waged by his opponents in the business community and in the United States. But, in a sign his government recognizes the problems with cash, authorities are planning to issue larger-denomination bills in January, according to local press reports.
The notes are reportedly set to start at 500 bolivars and reach 20,000 bolivars, or just over $10.
“They’re necessary for the economy, for the banks and for the people,” said Jose Grasso Vecchio, an economic consultant and former executive technical director of the Venezuelan Bank Association. “The move is a positive one.”
I have made my peace with Les Miles, I want him to stay. Go away Michigan. It is is not the 11 games winning seasons or the Yoda like press conferences. He eats grass and knows Tiger Stadium grass taste best! That is a special brand of crazy I want to see of years to come! GEAUX TIGERS!
The masses in Venezuela continue to benefit from generous increases in the minimum-wage from their heroic leftist leaders.
Maduro has announced a 50-percent hike in the minimum wage and pensions amid increasing inflation rate.
"To start the year, I have decided to raise salaries and pensions… Fifty percent [increase], I mean that pensions and minimum wage will account for 40, 638 bolivars [$4,070] since January, while minimum composite income will reach 104, 358 bolivars [$10,451], with 63,720 bolivars [$6,382] allocated for the purchase of the basic food basket," Maduro said Sunday on his weekly TV and radio program.
This is the fifth minimum wage increase over the last year. "In times of economic war and mafia attacks… we must protect employment and workers' income," Maduro said.
He stressed that the minimum wage increased by 536 percent, compared to January 2016 data. In January 2016, Maduro declared an economic emergency in Venezuela. The announcement came two days after Venezuela’s oil price dropped to $24 a barrel, the lowest mark in 12 years, while up to 96 percent of Venezuela’s budget depends on oil revenues. In February, Venezuela's annual inflation rate passed the historic 180-percent mark in 2015.
According to the International Monetary Fund, 2016 inflation rate in Venezuela could be over 700percent, while its GDP could drop by some 10 percent.
Of course, when the electicity goes off they just declare a national week vacation, which wouldn't be bad if they were able to buy beer & pizza.
Foreign nations continue to undermine the egalitarian policies of the wise Venezuelan leaders.
Israeli authorities said on Tuesday that nine Venezuelan Jewish converts will be allowed to move to Israel in light of the humanitarian crisis in Venezuela, reversing an earlier decision to keep them out.
Israel’s Interior Ministry had initially rejected the nine for immigration, saying they did not meet criteria to ensure they are committed Jews and do not only seek a better life in Israel.
According to an official in Israel familiar with the case, there was evidence suggesting some of the applicants had converted to Judaism in order to take advantage of Israeli social benefits, including health insurance. The official spoke on condition of anonymity because he was not authorized to discuss the converts’ personal status.
But advocates argued the converts, from the Venezuelan city of Maracay, are in mortal danger amid food shortages and violence in Venezuela. They claim the Interior Ministry, headed by an ultra-Orthodox Jewish minister, discriminated against the converts because the Conservative Movement, a liberal stream of Judaism, had converted them.
Liberal Israeli lawmakers subsequently called on immigration officials to come up with a “creative solution” to save the Jewish converts from danger in Venezuela.
The misguided Venezuelans continue to doubt their great Socialists Leaders.
Venezuelans for the first time led asylum requests to the United States as the country's middle class fled the crashing, oil-dependent economy.
Data from the U.S. government's Citizenship and Immigration Services show that 18,155 Venezuelans submitted asylum requests last year, a 150 percent increase over 2015 and six times the level seen in 2014. China was second place, with 17,745 requests coming from citizens of that country.
If they have no bread, they cannot eat cake!
Venezuela this week arrested four bakers making illegal brownies and other pastries as President Nicolas Maduro's socialist government threatens to take over bakeries in Caracas as part of a new "bread war".
Maduro has sent inspectors and soldiers into more than 700 bakeries around the capital this week to enforce a rule that 90 percent of wheat must be destined to loaves rather than more expensive pastries and cakes.
It was the latest move by the government to combat shortages and long lines for basic products that have characterized Venezuela's economic crisis over the last three years.
The socialists in Venezuela are finally punishing the evil capitalists by taking their ill-gotten assets.
[Quote]General Motors Co. has stopped doing business in Venezuela after authorities took control of its only factory there in what GM called an illegal judicial seizure of its assets
The Valencia plant was confiscated on Wednesday as anti-government protesters clashed with authorities in a country that is roiling in economic troubles such as food shortages and triple-digit inflation.
The Detroit automaker said in a statement Thursday that other assets such as vehicles were taken from the plant, causing irreparable damage to the company.
“The seizure was granted and enforced in total disregard of (General Motors Venezuela’s) right to due process, causing irreparable damage to the company,” the automaker said in a statement. The company says it will defend itself legally inside and outside of Venezuela.