Venezuelas Economy

It doesn't start off well:
With Venezuela's economy having contracted last year (as did the vast majority of economies in the Western Hemisphere),
Click to expand...
The article fails to note that Venezuela's economy is the only one in the region that shrunk last year, all others grew. And with Chavez's policies, there doesn't appear to be much of an up side. Private foreign investment isn't going to happen.
 
With oil at about $80 a barrel, Venezuela is running a sizeable current account surplus, and has a healthy level of reserves.
Click to expand...

If this is the case then why is PDVSA still owe billions to the service companies?

According to the figures in that piece they have 6.1% of the public debt. Our companies bad debts for Venezuela are still rising quarter on quarter and another of our competitors took millions in losses this quarter due to the currency devaluation.

with its planned expansion of public investment this year, including $6bn for electricity generation.
Click to expand...

This is a good thing.
 
WildCat said:
It doesn't start off well:

The article fails to note that Venezuela's economy is the only one in the region that shrunk last year, all others grew. And with Chavez's policies, there doesn't appear to be much of an up side. Private foreign investment isn't going to happen.
Click to expand...

you got a good summary about the other South American economies from 2009?

i dont have ssen the latest 2009 numbers of the Venezuelan Private Sector, it didnt grow this year? i have heard the claim made often, but the numbers never showed that claim to be true.
 
WildCat claims :
he article fails to note that Venezuela's economy is the only one in the region that shrunk last year, all others grew.
Click to expand...

CIA claims:

Because of the global financial crisis and weakening demand for Colombia's exports, Colombia's economy grew only 2.6% in 2008, and contracted slightly in 2009.
Click to expand...
https://www.cia.gov/library/publications/the-world-factbook/geos/co.html

WC, please provide your sources to the CIA; the CIA has got it wrong.....



maybe the article didnt mention it because your claim is not true at all?
 
Last edited:
DC said:
WildCat claims :


CIA claims:


https://www.cia.gov/library/publications/the-world-factbook/geos/co.html

WC, please provide your sources to the CIA; the CIA has got it wrong.....



maybe the article didnt mention it because your claim is not true at all?
Click to expand...
Oh, sorry, you found one country that actually shrunk by a whopping 0.1% for 2009, data for which wasn't in yet last I read about it several months ago. Boy, that proves what a Great Leader Chavez is!

Except the point still stands, Venezuelas economy is underperforming, and by a wide margin, its neighbors in the region and has been for Chavez's entire tenure.

And I wonder how much of Venezuela's debt was reduced by Venezuela simply declaring they wouldn't pay it, or seizing the company it owed money to?
 
WildCat said:
Except the point still stands, Venezuelas economy is underperforming, and by a wide margin, its neighbors in the region and has been for Chavez's entire tenure.
Click to expand...

That always happens when Marxists take power for some reason. Together with the country become a dictatorship with dead Marxist leader outlawing everybody he dislikes and totally destroying any sort of foreign investment in the country.

It's almost as if Communism doesn't work or something.

Venezuela has lots of oil, but as the old joke in the USSR had it, if the Sahara were run using the communist system, it would create a sand shortage. Pretty soon, people will be standing in line for heating oil in oil-rich Venezuela, like they used to stand in line for toilet paper in Russia despite Russia's vast forests.
 
Skeptic said:
It's almost as if Communism doesn't work or something.
Click to expand...

No, no, no, you got it all wrong. It's never been tried right. The next time it will be done right and everybody will live happily ever after. Honest! Now report to your commissar for your reeducation placement.

Pretty soon, people will be standing in line for heating oil in oil-rich Venezuela
Click to expand...

Seeing their climate, I find this rather unlikely. But they're already standing in line for electricity, which isn't much better, I think?

McHrozni
 
So Greece is in trouble because:

A: They don't have oil.
B: They can't sell tomorrow's oil to China at today's prices.
C: They can't make debt magically disappear by devaluing their currency.

Yeah, that kind of behaviour bodes great for economic sustainability.
 
Seeing their devaluation schemes and nationalization of foreign company's assets, practically nobody wants to deal with them anymore, except those (Iran and China) who have an interest in sponsoring Chavez's shenanigans as a way to piss off the USA.

That's not that much, and once they are no longer interested in playing suckers, there will be nothing left -- but Chavez and his fanboys will blame "evil US economic embargo" or something, don't worry.
 
You must log in or register to reply here.

Back
Top Bottom