Venezuelans protest as the country suffers hyperinflation, power cuts, and “food shortages”

[rooster59]

Venezuelans protest as the country suffers hyperinflation, power cuts, and “food shortages”

By Luke Barber



Marches in Venezuelan capital Caracas turned violent as the opposition to President Nicolas Maduro’s government continue to say the country is suffering a “food shortage”.

100 protesters charged down the main thoroughfare near the presidential palace chanting “No more talk, we want food” in reaction to the country’s crippling economic crisis.

A petition bearing 1.8 million signatures was handed to Venezuela’s National Electoral Board (CNE). It has not yet delivered a ruling on whether to accept or reject the document which endorses a recall referendum against the president.

CNE cancelled the meeting in which it would decide whether to go ahead with efforts to remove Maduro from office, although the president’s opponents say that Venezuela faces widespread unrest if the authorities do not call a referendum this year.

Opposition spokesperson, Jesus Torrealba, called on the Venezuelan people to “remain calm” as they await the decision of the board.

Parties trading blows

Maduro’s government accuses the opposition of inciting violence while they say that he has allowed the country to go short of food through poor governance.

Reports say that the country is grappling with hyperinflation, a sharply declining economy and power cuts so bad that public servants have been put on a two day week.

Venezuela is experiencing mounting violent crime as the population’s mood becomes increasing frustrated.

In April, the president personally urged Venezuelan women to stop blow drying their hair in an attempt to save on electricity.

Economic crisis

Venezuela’s economy is forecast to decline a further eight per cent this year, with a predicted inflation of 700 per cent.

Although the country has the world’s largest oil reserves, Venezuela has spiraled into decline as the cost of oil has tumbled over the last 18 months.

-- (c) Copyright Euronews 2016-06-04

[NeilSA1]

The protesters may have sound reasons for their protest, but unfortunately their “No more talk, we want food” chanting, loses impact when the photo shown is of chunky ladies..

[daveAustin]

Indeed. Who ate all the rice & beans!

[Credo]

It's easier to take candy from a baby than it is to take a ham sandwich from a chunky person.

But regardless of how they look now, many of them probably have families and children to feed. First it was people trying to get toilet paper, now it's food. It sounds like Venezuela has some big problems on the horizon.

On the brighter side, if they eat less they will need less toilet paper.

Edited June 4, 2016 by Credo

[marko kok prong]

wow,and there was me thinking of how many times Miss venezuala has won or come close to winning miss world.

[Scott]

Off-topic posts removed. The topic is about Venezuela.

[GinBoy2]

The legacy of Chavez & Maduro is finally coming to it's inevitable conclusion.

After Chavez's disastrous policies of price controls, which essentially destroyed domestic food production, he resorted to simply paying for everything, including food imports, with oil revenues. Great when oil prices were high, he essentially bought the electorate off with oil profits.

Now the chickens have come home to roost. A decimated local economy, with not enough oil money to make up the gap.

So what happens now?

The recall effort continues, where that goes remains to be seen

The other options, are probably less palatable: A palace coup or a military coup.

The military, at least the top brass seem committed to the government, but mid level officers seem to be getting restless.

The best option, in my mind at least, is that there is some palace coup, get rid of Maduro and slowly start to bring the economy back into some kind of market based balance.

Time will tell, but it's a delicate time for sure!

[bassman]

Just more examples of the fallacy of democratic socialism, remember Chavez was freely elected. Same scenario is being played out in Brazil where the democratic socialist have ruined another nation's economy.

[ExpatOilWorker]

Venezuela has everything, oil, gas, natural resources, large fertile land mass, mild climate a real El Dorado but it is full of Venezuelans. Could be a paradise country, but is is hell.

[i claudius]

Venezuela has everything, oil, gas, natural resources, large fertile land mass, mild climate a real El Dorado but it is full of Venezuelans.

Could be a paradise country, but is is hell.

Quite a few country's in the world like that ,just a shame about the people who live in them .

[NeverSure]

Socialism showing its inevitable results. "Sooner or later you run out of other people's money." - Margaret Thatcher.

[up2u2]

Just more examples of the fallacy of democratic socialism, remember Chavez was freely elected. Same scenario is being played out in Brazil where the democratic socialist have ruined another nation's economy.

Socialism showing its inevitable results. "Sooner or later you run out of other people's money." - Margaret Thatcher.

NOTHING!! to do with Socialism all to do with not diversifying an economy and relying on one singular revenue stream. Once the revenue stream is devalued your economy sinks like the Titanic. Further adding to the deep recession is the currency once strengthened on the back of the Petro Dollar income suffers massive deflation impact rendering it worthless against global currencies.

Brazil's political unrest is caused by government corruption not Socialism.

[halloween]

NOTHING!! to do with Socialism all to do with not diversifying an economy and relying on one singular revenue stream. Once the revenue stream is devalued your economy sinks like the Titanic. Further adding to the deep recession is the currency once strengthened on the back of the Petro Dollar income suffers massive deflation impact rendering it worthless against global currencies.

Brazil's political unrest is caused by government corruption not Socialism.

So if the massive oil income had been spent on developing local industry rather than "elect-me" hand-outs, it would have had no effect on Venezuela's current situation?

BTW it's a pity Hugo isn't still alive to see what his genius has wrought.

Edited June 5, 2016 by halloween

[up2u2]

NOTHING!! to do with Socialism all to do with not diversifying an economy and relying on one singular revenue stream. Once the revenue stream is devalued your economy sinks like the Titanic. Further adding to the deep recession is the currency once strengthened on the back of the Petro Dollar income suffers massive deflation impact rendering it worthless against global currencies.

Brazil's political unrest is caused by government corruption not Socialism.

So if the massive oil income had been spent on developing local industry rather than "elect-me" hand-outs, it would have had no effect on Venezuela's current situation?

BTW it's a pity Hugo isn't still alive to see what his genius has wrought.

No, Democratic Socialist governments do not fund industry and innovation and start ups and Industry sectors and run them that is Communism. Democratic Socialist Governments implement the environment and direction of an economy. No different to America and why it is failing the balance is set too far to Capitalism with little Socialism to balance it. Eventually it self destructs.

[Scott]

Off-topic post and reply removed.

[sirineou]

The protesters may have sound reasons for their protest, but unfortunately their “No more talk, we want food” chanting, loses impact when the photo shown is of chunky ladies..

Poor diet often promotes obesity .

[halloween]

NOTHING!! to do with Socialism all to do with not diversifying an economy and relying on one singular revenue stream. Once the revenue stream is devalued your economy sinks like the Titanic. Further adding to the deep recession is the currency once strengthened on the back of the Petro Dollar income suffers massive deflation impact rendering it worthless against global currencies.

Brazil's political unrest is caused by government corruption not Socialism.

So if the massive oil income had been spent on developing local industry rather than "elect-me" hand-outs, it would have had no effect on Venezuela's current situation?

BTW it's a pity Hugo isn't still alive to see what his genius has wrought.

No, Democratic Socialist governments do not fund industry and innovation and start ups and Industry sectors and run them that is Communism. Democratic Socialist Governments implement the environment and direction of an economy. No different to America and why it is failing the balance is set too far to Capitalism with little Socialism to balance it. Eventually it self destructs.

So you think using a country's abundant wealth to offer tax concessions/holidays to encourage private investment and promote new industry is communism? We must use different dictionaries.

OTOH I have to agree "Democratic Socialist Governments implement the environment and direction of an economy." It's just a pity it was directed into a giant toilet bowl, but did they have to flush as well?

[halloween]

The protesters may have sound reasons for their protest, but unfortunately their “No more talk, we want food” chanting, loses impact when the photo shown is of chunky ladies..

Poor diet often promotes obesity .

Isn't that the McDonalds slogan?

[up2u2]

NOTHING!! to do with Socialism all to do with not diversifying an economy and relying on one singular revenue stream. Once the revenue stream is devalued your economy sinks like the Titanic. Further adding to the deep recession is the currency once strengthened on the back of the Petro Dollar income suffers massive deflation impact rendering it worthless against global currencies.

Brazil's political unrest is caused by government corruption not Socialism.

So if the massive oil income had been spent on developing local industry rather than "elect-me" hand-outs, it would have had no effect on Venezuela's current situation?

BTW it's a pity Hugo isn't still alive to see what his genius has wrought.

No, Democratic Socialist governments do not fund industry and innovation and start ups and Industry sectors and run them that is Communism. Democratic Socialist Governments implement the environment and direction of an economy. No different to America and why it is failing the balance is set too far to Capitalism with little Socialism to balance it. Eventually it self destructs.

So you think using a country's abundant wealth to offer tax concessions/holidays to encourage private investment and promote new industry is communism? We must use different dictionaries.

OTOH I have to agree "Democratic Socialist Governments implement the environment and direction of an economy." It's just a pity it was directed into a giant toilet bowl, but did they have to flush as well?

That is the problem no direction and all too late now to diversify and attract new industries and income. No real difference than America. The Government is broke. Same with Venezuela it is effectively broke. Expenditure exceeds income. Neither have anything to do with the political system and all to do with poor economic management.