Saturday, November 25, 2017

ECONOMIC CRISIS: Venezuela inflation soars to 4,000% in “Death Spiral”

ECONOMIC CRISIS: Venezuela inflation soars to 4,000% in “Death Spiral”
LATEST FROM THE ECONOMIC  WORLD....

Venezuela’s money is nearly worthless, and its cash crisis is only getting worse. The country is spiraling further into a humanitarian disaster spurred by the government’s economic policies, which have caused the currency, the bolivar, to plunge in value and prices to skyrocket. Food and medicine shortages have been reported across Venezuela.


The bolivar has lost 96% of its value this year. As of Tuesday, it took 84,000 bolivars to buy an American dollar. At the beginning of this month, a dollar was worth 41,000 bolivars. And at the start of this year, it only took 3,100 bolivars to buy a dollar, according to DolarToday, a website that tracks the unofficial exchange rate. READ MORE


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A nitro cold brew sells for $5, and a large mocha for $4.50 at a popular coffee and muffin bar in UC Berkeley’s student union. Downstairs, business is just as brisk at another food emporium. The provisions there are free. “I’m low on funds,” shrugged Christopher, a junior, as he stuffed apple juice, a half gallon of milk, a box of peanut butter Puffin cereal and two cans of organic pinto beans and sweet corn — the UC Berkeley Food Pantry’s five-item limit — into his backpack.
Christopher, who asked that his last name not be used, said he depends on the pantry’s donated groceries to make ends meet, especially during emergencies. Someone slashed his tire last week, he said, and now he’s out $110 for a new one. Without the help, he’d have to make a choice: wheels or food. Faced with such choices, students often skip the nutrition. READ MORE



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12 comments:

  1. TradCatKnightNovember 25, 2017 at 8:24 AM

    GET TO PREPPING

    ReplyDelete
  2. UnknownNovember 25, 2017 at 8:53 AM

    They sure like to paint a rosy picture though. The high stock market is just an illusion...it has to and will CRASH! Buy Gold! And, yes, ERIC get your preparations ready. I started too early with stocking on food. I do have MRE's that I think last for a billion years or so...LOL! Not sure they taste too good, but when you are starving...Unfortunately, where I live I cannot start my own garden or grow any food or herbs. So it's canned pasta and freeze-dried food for me. THE LORD WILL PROVIDE!!

    ReplyDelete
  3. AnonymousNovember 26, 2017 at 12:49 AM

    Pray for these people. They are eating zoo animals and are having a general mental health crisis. This is coming to America

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  4. AnonymousNovember 26, 2017 at 12:55 AM

    I still say the collapse will happen in2018. Look at the cover of the economist showing the one world currency. Mary

    ReplyDelete
  5. AnonymousNovember 26, 2017 at 1:40 AM

    There are a lot of Socialist projects otherwise known as nations with puppet New World Order leaders. Our Lady will destroy Socialism!

    ReplyDelete
  6. AnonymousNovember 26, 2017 at 1:46 AM

    Aren’t most college student spoor to begin with? Am I missing something?

    ReplyDelete
  7. AnonymousNovember 26, 2017 at 1:58 AM

    X22 report is a good source for economic news. They have good interviews too

    ReplyDelete