Posted: Thu Feb 20, 2014 1:13 pm
Anonymous just posted this on Twitter claiming it's Venezuela and not the Ukraine:
They say the media is being held out by force?
They say the media is being held out by force?
Venezuela gets about 95% of its money from selling oil from its abundant reserves. The country basically depends completely on oil money to continue functioning.
So when oil prices drop, it may be good for gas prices in the US, but it’s very bad for the people of Venezuela.
Prices are currently around $50 per barrel. For Venezuela, that’s not good—they would need the price to grow to $121 per barrel to balance their budget.
It might not have been so bad if former president Hugo Chávez hadn’t chosen his oil company leaders based on their loyalty to him and his party. The employees took money from the company, but didn’t re-invest the cash to improve the country’s processes, causing oil production to actually fall in the 2000s.
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Due to the lower oil prices — again, oil accounts for 95% of Venezuela’s income — the country is losing money.
Inflation is also ridiculously high in Venezuela. Shortages of goods have resulted in sky-high prices and a complicated exchange rate system, which gives preferential rates to those importing essential items, hasn’t helped.
The president has accused Venezuelans of smuggling goods to Colombia for profit and shopkeepers of withholding stock to drive up prices.
Experts say the economy will fall 8% this year, with inflation growing to over 700%. The government has very little cash on hand even though it owes tons of money.
Guess that plant wont be making cars any time soon.Leisher wrote: Venezuela seizes GM plant.
There's a complete news blackout here in Venezuela. The only TV channels left are those controlled by the fucking government. Even CNN was shut down a few weeks ago.
Imagine that the only way to stay informed about a revolution in your country is twitter, WhatsApp and Facebook.
People dying in the streets, and the government plays a paragliding documentary on tv...
That's my country today... you may not care... but think if this shit happened to you... wouldn't you ask for an up vote to create awareness? Help us! Please
The media hasn't yet figured out how to blame it on Trump, yet.