Venezuela Meltdown

Lies, damned lies, and statistics.
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Re: Venezuela Meltdown

Post by Doctor X » Fri May 04, 2018 7:11 am

I blame Bush Trump!

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Re: Venezuela Meltdown

Post by WildCat » Fri May 04, 2018 11:46 am

But Bernie will do it the right way in the USA!
Do you have questions about God?

you sniveling little right-wing nutter - jj

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Re: Venezuela Meltdown

Post by Witness » Sun May 06, 2018 4:03 am

Miami Herlad wrote:Venezuela's Maduro threatens 'armed revolution' ahead of May 20 election

Bogota, Colombia

Venezuelan President Nicolás Maduro is warning that he’ll take up arms and lead a revolution if a government comes into power that wants to hand the country’s "riches" to “imperialist” forces.

In a campaign speech Wednesday, Maduro — who is hoping to win a new six-year term in a highly questioned May 20 election — accused his nearest opposition rival, Henri Falcón, of wanting to sell the country out to “the gringos.”

“If someday a government was in power that intended to hand over [our] riches, I would be the first one to raise the alarm, grab a gun and start an armed revolution with the people, if necessary,” he told a crowd of supporters in Vargas. “I would be the first one to do it, and call the people to arms.”

His opponent, Falcón, a one-time government supporter turned dissident, is struggling to attract voters who are wary that going to the polls will legitimize a deeply flawed electoral process. And most of the major opposition groups are calling for an outright boycott of the election.
http://www.miamiherald.com/news/nation- ... 63554.html

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Accompanied by his son Nicolás, Venezuela's President Nicolás Maduro raises a fist as he arrives at a military parade in Caracas on Friday, April 13, 2018. Ariana Cubillos AP

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Re: Venezuela Meltdown

Post by Skeeve » Sun May 06, 2018 4:08 am

Ex-Venezuela Oil Boss: PDVSA Is Collapsing
The man who ran Venezuela’s state oil company PDVSA for a decade after 2004 says that the country’s oil firm is on the cusp of total collapse and expects oil production to drop by 600,000 bpd each year amid lack of investment.

Rafael Ramirez, who has long been a rival of Venezuela’s incumbent leader Nicolas Maduro within Hugo Chavez’s inner circle, told Bloomberg in a phone interview that “PDVSA may fall into an accelerated spiral downward.”

According to OPEC’s secondary sources, Venezuela’s oil production averaged 2.154 million bpd in 2016 and 1.916 million bpd in 2017. In March 2018, its production plunged to 1.488 million bpd.
Yes, a success, a flaming success....

Oh and Happy Birthday Karl Marx....
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Re: Venezuela Meltdown

Post by shuize » Sun May 06, 2018 11:50 pm

The CIA World Factbook estimates that per capital GDP (PPP) in Venezuela went from $17,300 in 2015 to $12,400 in 2017 -- an almost 30% drop in 2 years.

As I've posted before, I knew people in Japan who just loved Chavez. I really wish they were still around so I could ask them how things are working out in Venezuela these days.

https://www.cia.gov/library/publication ... os/ve.html

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Re: Venezuela Meltdown

Post by Skeeve » Mon May 07, 2018 7:17 pm

shuize wrote:The CIA World Factbook estimates that per capital GDP (PPP) in Venezuela went from $17,300 in 2015 to $12,400 in 2017 -- an almost 30% drop in 2 years.

As I've posted before, I knew people in Japan who just loved Chavez. I really wish they were still around so I could ask them how things are working out in Venezuela these days.

https://www.cia.gov/library/publication ... os/ve.html
I can only imagine what a 10-yr GDP drop would be like....

Perhaps your old/former acquaintances are on extended vacation in
(wait for iT)
...
Venezuela!


Apparently it is fairly cheep if you have a solvent currency that is.

See: I Lived Like a Baller for a Month in Venezuela on Just £75
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Re: Venezuela Meltdown

Post by Skeeve » Tue May 08, 2018 2:25 pm

'World of Warcraft' Currency Is Now Worth 7 Times as Much as Venezuela's Cash
Venezuela’s real world currency—the bolivar—long ago fell below the value of the fake gold in Azeroth, the mythical setting of World of Warcraft (WoW). What’s remarkable is how much more valuable that virtual currency has become.

To put things in perspective, last August, WoW‘s virtual gold was worth just under twice as much as the bolivar. Today, it’s worth nearly seven times as much—and possibly a lot more than that if you consider the black market value.

Here’s how the math works out.

Per Google, one U.S. dollar is worth 68,915 bolivar.
:shock:

Wow, that is going way beyond Flaming Success....were talking napalm....
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Re: Venezuela Meltdown

Post by Witness » Wed May 09, 2018 1:13 am

Bloomberg wrote:Venezuelan Soldiers Desert in Droves With Presidential Election Ahead

Military officers are joining the exodus of Venezuelans to Colombia and Brazil, fleeing barracks and forcing President Nicolas Maduro’s government to call upon retirees and militia to fill the void.

High desertion rates at bases in Caracas and the countryside are complicating security plans for the presidential election in 13 days, which by law require military custody of electoral materials and machinery at voting centers.

“The number is unknown because it used to be published in the Official Gazette. Now, it is not,” said Rocio San Miguel, director of Control Ciudadano, a military watchdog group in Caracas. She said soldiers are fleeing for the same reason citizens are: “Wages are low, the quality of food and clothing isn’t good.”

Last week, officers who rank as high as general were called in and quartered for several days at their units. Retired officials and militia members were also contacted by their superiors, according to one retired officer who asked not to be named for fear of angering the regime. Government officials are training these fill-in personnel for the election, said a second retired officer.
https://www.bloomberg.com/news/articles ... vote-ahead

And:
Reuters wrote:Exclusive: Conoco moves to take over Venezuelan PDVSA's Caribbean assets - sources

HOUSTON/CARACAS (Reuters) - U.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three sources familiar with its actions.

The U.S. firm targeted facilities on the islands of Curacao, Bonaire and St. Eustatius that accounted for about a quarter of Venezuela’s oil exports last year. The three play key roles in processing, storing and blending PDVSA’s oil for export.

The company received court attachments freezing assets at least two of the facilities, and could move to sell them, one of the sources said.

Conoco’s legal maneuvers could further impair PDVSA’s declining oil revenue and the country’s convulsing economy. Venezuela is almost completely dependent on oil exports, which have fallen by a third since its peak and its refineries ran at just 31 percent of capacity in the first quarter.
https://www.reuters.com/article/us-cono ... SKBN1I70RA

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Re: Venezuela Meltdown

Post by Skeeve » Wed May 09, 2018 11:50 am

Iran Sanctions Add to Venezuelan Collapse in Battering Oil Market
While the world ponders the fate of Iran’s exports, the oil market is exposed more than ever to the effects of Venezuela’s spectacular production collapse.

The South American nation, holder of the world’s biggest oil reserves, has seen its output fall almost 40 percent since 2015...
...
PDVSA’s decline has come as hundreds of thousands of Venezuelans flee a societal collapse, crowding into cities and makeshift camps throughout the region in the largest mass emigration in modern Latin American history. Hyperinflation has made Venezuela’s currency virtually worthless, malnutrition is endemic and medicines are in short supply -- hardships facing PDVSA workers along with the rest of the nation.

Management Purge

Maduro exacerbated matters with a purge of top management and career bureaucrats at the oil company, which was put under the oversight of a military general last year.

Rafael Ramirez, who ran PDVSA for a decade before fleeing Venezuela, told Bloomberg News last week that the company is on the brink of fiscal collapse. He predicted the conglomerate will lose 600,000 barrels a day of production per year because of a lack of investment.

The troubles have enveloped private oil companies working in the country as well. Last month, oilfield services giant Halliburton Co. wrote down the value of its entire investment in Venezuela, announcing a $312 million charge to first-quarter earnings. That came as Chevron Corp. was reportedly evacuating staff after two of its workers were arrested following a contract dispute with PDVSA.
And the $hits just keep on comin'...
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Re: Venezuela Meltdown

Post by ed » Wed May 09, 2018 11:53 am

I'd love to see how they are blaming the US for this debacle. I am trying to see how it is not entirely of their own making.
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Re: Venezuela Meltdown

Post by Skeeve » Wed May 09, 2018 11:58 am

ed wrote:I'd love to see how they are blaming the US for this debacle. I am trying to see how it is not entirely of their own making.
I'm sure someone will come up with something...but a picture is worth 1000 words so...

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Re: Venezuela Meltdown

Post by Witness » Thu May 10, 2018 3:34 am

Venezuela and Palestine Start Bi-National Bank With Petros

Newly re-elected Palestinian leader, Mahmoud Abbas landed in Caracas last night for a two-day diplomatic stay in Venezuela and already he and President Nicolas Maduro have signed an accord to create the binational bank to fund technological and industrial initiatives between the two countries.

During the same meeting Venezuelan minister of tourism Marlenys Contreras and Palestinian director general of international cooperation, Imad Zuhairi agreed to bilateral tourism and hotel projects.

Today’s session at the Miraflores Palace in Caracas also established an agreement to begin a Venezuela-Palestine business council to expand economic, banking, trade and financial cooperation among the countries.

Both countries already maintain several accords in the areas of education, trade, energy, agriculture, culture, communication, sports, defense, security and health since 2009.
https://venezuelanalysis.com/news/13798

Weeell… Sure will help them both. :crazy:

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Re: Venezuela Meltdown

Post by shuize » Fri May 11, 2018 11:03 am

Witness wrote:Both countries already maintain several accords in the areas of education, trade, energy, agriculture, culture, communication, sports, defense, security and health since 2009.
They both deserve each other.

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Re: Venezuela Meltdown

Post by Witness » Fri May 11, 2018 5:21 pm

shuize wrote:They both deserve each other.
That's harsh! :mrgreen:

From April:
Today Venazuela wrote:Venezuelan Parliament approves trial against Nicolás Maduro: What’s Next?

The Venezuelan National Assembly approved preliminary impeachment proceedings against Nicolás Maduro with 105 votes in favor (and 2 against), citing enough evidence linking him to acts of corruption regarding the Odebrecht scandal.

Although this is a step forward in the struggle against the dictatorship, there will not be immediate effects at a national level–the country’s legitimate Supreme Court (TSJ) is exiled in Bogotá, Colombia. Yet it will give further leverage to foreign governments to disavow Maduro as president of Venezuela; and if he is found guilty, he could be officially be labeled a criminal.
http://todayvenezuela.com/2018/04/19/ve ... hats-next/

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Re: Venezuela Meltdown

Post by Skeeve » Sun May 13, 2018 5:55 pm

"Funny" Marvin intoned funereally, "How just when you think it can't possibly get any worse, it suddenly does..."

Venezuela’s Oil Meltdown Is Getting Worse
Death spiral is an overused term, but it is justified when describing Venezuela’s oil industry right now. Energy consumers and investors should pay attention

Though production at national oil company Petróleos de Venezuela SA has been falling fast, investors have assumed the company could keep global markets supplied and keep hard currency flowing to the country. Those assumptions are starting to unravel.

ConocoPhillips COP 0.56% has moved to take control of PdVSA facilities in the Caribbean after winning a $2 billion legal judgment tied to Venezuela’s seizure of its assets in 2007. That move alone hurts Venezuela because that storage and refining infrastructure is needed to blend the country’s heavy crude with lighter varieties and make it suitable for sale abroad. Energy economist Philip Verleger estimates the issue could cut off exports of as much as 500,000 barrels a day out of the 1.4 million Venezuela produces.
And the $#its, just keep on coming...
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Re: Venezuela Meltdown

Post by Witness » Tue May 15, 2018 12:31 am

The True Reason© of Venezuela's woes:
Today Venezuela wrote:Venezuela: Pemon People ‘Cleanse’ Kueka Stone Before Its Return

The ritual before the sacred Kueka Stone (also known as Grandmother Kueka) marks the beginning of the repatriation process to Canaima National Park in Venezuela, after being illegally lent by the Ministry of Environment to a German sculptor almost 20 years ago.
Pemon people are certain that the stone’s absence has caused natural disasters, like the 1999 landslide that killed tens of thousands of peoples
Image

Image

More pics: http://todayvenezuela.com/2018/05/14/ve ... -8-photos/

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Re: Venezuela Meltdown

Post by ed » Tue May 15, 2018 2:09 am

Ahhhhh ... the benefits of cultural diversity. Stone cleaning. Truly excellent.
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Re: Venezuela Meltdown

Post by Skeeve » Thu May 17, 2018 1:38 am

Venezuela seizes Kellogg cereal factory after closure
It comes after the firm announced it was pulling out of the country because of the worsening economic situation.

President Nicolas Maduro, who has previously accused the US of waging economic war against his government, called the closure "absolutely unconstitutional and illegal".
...
The announcement comes ahead of Sunday's presidential elections.

"We've begun judicial proceedings against the business leaders of Kellogg's because their exit is unconstitutional," Mr Maduro told cheering supporters in the central state of Carabobo.

"I've taken the decision to deliver the company to the workers in order that they can continue producing for the people."
:lol:
Image
...
Kellogg is the latest multinational to close or scale back operations in Venezuela, citing strict currency controls, a lack of raw materials and soaring inflation.
I am amazed that there are any left at all now....
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Re: Venezuela Meltdown

Post by Anaxagoras » Fri May 18, 2018 9:25 am

Apparently there will be an "election" in two days time, but it's going to be a sham election by all indications. Millions of Venezuelans have already voted with their feet, by fleeing the country.

As Venezuelans go hungry, their government holds a farcical election
IF VENEZUELA were a democracy, President Nicolás Maduro’s bid to win re-election would certainly fail. He leads a regime that has been in power for 19 years. Its economic policies have made life intolerable for most of the country’s 34m citizens. Food is in short supply, and nearly 90% of Venezuelans say they do not have enough money to eat properly. The contraction of the economy is the biggest in the history of Latin America. Prices are doubling nearly every month. At least a million people have left the country in the past four years.

Yet almost nobody thinks the president, who looks as well fed as ever, will lose the one-round election scheduled for May 20th. At rallies of loyalists and dragooned state workers held in barricaded streets, Mr Maduro talks of getting 12m votes, even more than Hugo Chávez, the charismatic founder of Venezuela’s “Bolivarian revolution”, who died in 2013. To suffering voters he promises relief. “I am ready to make a change,” he said on May 11th.

The fact that few voters believe him does not matter. The “independent” electoral commission is a puppet of the regime. After regional elections last October, it refused to investigate evidence of fraud. Smartmatic, the company based in Britain that supplied Venezuela’s voting machines, has withdrawn its staff. It said that results in a vote last July for a new “constituent assembly”, whose main purpose is to circumvent the opposition-controlled legislature, had been “manipulated”.

But Mr Maduro may not have to steal the election on the day to win it. The regime has arrested the most prominent leaders of the opposition or banned them from politics. Others are in exile, leaving the opposition leaderless, divided and demoralised. Little is left of the hope and fury that animated protests against the regime last year, in which at least 163 people died.

In last year’s regional elections the government placed booths at polling stations where voters were required to renew their electronic “fatherland cards”, which entitle them to receive subsidised food. Nearly 70% of the population gets such subsidies. Mr Maduro is again suggesting that the government will exchange food for votes. “Whoever goes to vote with their fatherland card is going to get a big prize from the country, because we give and give,” he said on May 14th.
A fool thinks himself to be wise, but a wise man knows himself to be a fool.
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Re: Venezuela Meltdown

Post by Skeeve » Mon May 21, 2018 12:54 pm

BREAKING NEWS: ELECTION RESULTS: Venezuela Election Won by Maduro ...



Well, no, not really...
CARACAS, Venezuela — President Nicolás Maduro won a second term as president of Venezuela, a country in the midst of a historic economic collapse marked by soaring prices, widespread hunger, rampant crime, a failing health system and a large-scale exodus of its citizens.
...
In the capital and around the country, the turnout was extremely low, with more than half of voters not casting ballots, reflecting both a call from many opposition leaders for a boycott of the vote and the disillusionment of longtime government supporters.

Voting centers in pro-government strongholds and opposition areas alike often had no lines — a significant change from previous presidential elections, and a sign that many Venezuelans repudiated the candidacies of both Mr. Maduro and the two opposition candidates.
Okay, in other less depressing news: Malaria rates soar in Venezuela...
Venezuela is facing an escalating malaria crisis, even as the infection rates have continued to decline across most of the rest of the planet.

The situation is a shocking reversal in a country that was once seen as a flag bearer for global malaria eradication. Once the Americas’ most malaria-infected country, the disease was almost wiped out between the 1960s and the 1980s.
Yes, a success...a flaming success...
Then Skank Of America could start in...