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zoom rader wrote:EmilioA wrote:zoom rader wrote:VexXx Dogg wrote:Why did their economy crash? What can we learn from them?
Given that we are in such close proximity, what potential threats do we face?
I wouldn't venture into how we can help them, because our own economy is limping - we have to fix home first.
Nationalisation help it. that's why governments should be running businesses
PDVSA was always nationalized. You have to come up with a different reason.
Again you prove you are a dumb fcuk.
Factbox: Venezuela's nationalizations under ChavezVenezuelan President Hugo Chavez was re-elected on Sunday to another six-year term, potentially extending his rule to two decades and cementing his status as a dominant figure in modern Latin American history.
In 14 years in office, Chavez has nationalized major swaths of the OPEC nation's economy as part of a socialist agenda.
Venezuelans expect more takeovers to come, possibly in the banking, health and food sectors.
Below are the main nationalizations under Chavez:
OIL
* In 2007, Chavez's government took a majority stake in four oil projects in the vast Orinoco heavy crude belt worth an estimated $30 billion in total.
Exxon Mobil Corp and ConocoPhillips quit the country as a result and filed arbitration claims. Late last year, an arbitration panel ordered Venezuela to pay Exxon $908 million, though a larger case is still ongoing.
France's Total SA and Norway's StatoilHydro ASA received about $1 billion in compensation after reducing their holdings. Britain's BP Plc and America's Chevron Corp remained as minority partners.
* In 2008, Chavez's administration implemented a windfall tax of 50 percent for prices over $70 per barrel, and 60 percent on oil over $100. Oil reached $147 that year, but soon slumped.
* In 2009, Chavez seized a major gas injection project belonging to Williams Cos Inc and a range of assets from local service companies. This year, the energy minister said the government would pay $420 million to Williams and one of its U.S. partners, Exterran Holdings, for the takeover.
* In June 2010, the government seized 11 oil rigs from Oklahoma-based Helmerich & Payne Inc.
AGRICULTURE
* In 2009, Chavez nationalized a rice mill operated by a local unit of U.S. food giant Cargill Inc.
* In October 2010, Venezuela nationalized Fertinitro, one of the world's biggest producers of nitrogen fertilizer, as well as Agroislena, a major local agricultural supply company. It also said it would take control of nearly 200,000 hectares (494,000 acres) of land owned by British meat company Vestey Foods.
* Vestey had already filed for arbitration over the earlier takeover of a ranch. Chavez said the latest deal with Vestey was a "friendly agreement."
* In 2005, Chavez began implementing a 2001 law letting the state expropriate unproductive farms or seize land without proper titles. He has redistributed millions of acres deemed idle to boost food production and ease rural poverty.
* Chavez's government has repeatedly threatened to seize Empresas Polar, Venezuela's biggest employer and largest brewer and food processor.
FINANCE
* In June 2010, Venezuela took over the mid-sized bank Banco Federal, citing liquidity problems and risk of fraud. The bank was closely linked to anti-government TV station Globovision.
* In 2009, Chavez paid $1 billion for Banco de Venezuela, a division of Spanish bank Grupo Santander.
* The government has closed a dozen small banks since November 2009 for what it said were operational irregularities. Some were reopened as state-run firms. Brokerages have also been closed and some employees jailed. Chavez has vowed to nationalize any bank that fails to meet government lending guidelines or is in financial trouble.
INDUSTRY
* In October 2010, Chavez ordered the takeover of the local operations of Owens Illinois Inc, which describes itself as the world's largest glass container maker.
* Chavez in April 2008 announced the government takeover of the cement sector, targeting Switzerland's Holcim Ltd, France's Lafarge SA, and Mexico's Cemex SAB de CV.
GOLD
* Chavez has considered bringing mining more firmly into state hands, and in 2009 the mining ministry seized Gold Reserve Inc's Brisas project, which sits on one of Latin America's largest gold veins. Gold Reserve immediately filed for arbitration with ICSID.
* In August 2011, Chavez said he was nationalizing the gold industry. Toronto-listed Rusoro Mining Ltd, owned by Russia's Agapov family, was the only large gold miner operating in Venezuela, and this year it filed for arbitration.
STEEL
* The government paid $2 billion in 2009 for Argentine-led Ternium SA's stake in Venezuela's largest steel mill.
TELECOMMUNICATIONS
* In 2007, the nation's largest telecommunications company CANTV was nationalized after the government bought out the U.S.-based Verizon Communications Inc's 28.5 percent stake for $572 million. Analysts said Verizon received fair compensations for its assets.
POWER
* In 2007, Venezuela expropriated the assets of U.S.-based AES Corp in Electricidad de Caracas, the nation's largest private power producer. The government paid AES $740 million for its 82 percent stake in the company. Analysts described the deal as fair for AES.
TRANSPORT
* In September 2011, the government nationalized a local ferry company, Conferry, which operates from the mainland to the resort island of Margarita. Conferry is owned by a wealthy family and began operating in 1959.
TOURISM
* In October 2011, Chavez said his government would seize private homes on the Los Roques archipelago in the Caribbean and use them for state-run tourism. The islands are among the nation's favorite and most expensive tourist spots, with pristine white beaches and coral reefs that teem with sea life.
(Reporting by Caracas newsroom; Editing by David Brunnstrom)
http://www.reuters.com/article/us-venez ... 1X20121008
zoom rader wrote:EmilioA wrote:This why I engage ZR . It forces him to do some work.
Mind you he hasnt yet linked nationalization to the economic hard times. Things were going fine until oil fell.
No !
We have too many lazy fcuks on truner that know jack chit.
Nationalization encourages a lazy non producing workforce, think Wasa, Caroni, public servants. Trade Unions to blame for this aswell. USSR had the same chit going on.
The UK was in the same situation in the 1970 and early 1980s and Thatcher got rid of useless Nationalise boards, such as British Rail, Steel, Coal mines, British Airways, Post office Telecoms, British Leyland, Council housing and many others.
pete wrote:I read that part of the problem they faced and why they ran out of things like toilet paper is they only issued US to certain people.. black market went out of control so eventually the companies making toilet paper etc could make more money by just selling the US they were issued than buying raw materials to manufacture the toilet paper and sell.
BRZ wrote:zoom rad[list]er wrote:EmilioA wrote:zoom rader wrote:VexXx Dogg wrote:Why did their economy crash? What can we learn from them?
Given that we are in such close proximity, what potential threats do we face?
I wouldn't venture into how we can help them, because our own economy is limping - we have to fix home first.
Nationalisation help it. that's why governments should be running businesses
PDVSA was always nationalized. You have to come up with a different reason.
Again you prove you are a dumb fcuk.
For an aged educated fart you disappoint me in your creative descrition of me.
zoom rader wrote:EmilioA wrote:This why I engage ZR . It forces him to do some work.
Mind you he hasnt yet linked nationalization to the economic hard times. Things were going fine until oil fell.
No !
We have too many lazy fcuks on truner that know jack chit.
Nationalization encourages a lazy non producing workforce, think Wasa, Caroni, public servants. Trade Unions to blame for this aswell. USSR had the same chit going on.
The UK was in the same situation in the 1970 and early 1980s and Thatcher got rid of useless Nationalise boards, such as British Rail, Steel, Coal mines, British Airways, Post office Telecoms, British Leyland, Council housing and many others.
antlind wrote:zoom rader wrote:EmilioA wrote:This why I engage ZR . It forces him to do some work.
Mind you he hasnt yet linked nationalization to the economic hard times. Things were going fine until oil fell.
No !
We have too many lazy fcuks on truner that know jack chit.
Nationalization encourages a lazy non producing workforce, think Wasa, Caroni, public servants. Trade Unions to blame for this aswell. USSR had the same chit going on.
The UK was in the same situation in the 1970 and early 1980s and Thatcher got rid of useless Nationalise boards, such as British Rail, Steel, Coal mines, British Airways, Post office Telecoms, British Leyland, Council housing and many others.
Hate to say it......but like ZR actually making a valid point here.
VexXx Dogg wrote:I wouldn't venture into how we can help them, because our own economy is limping - we have to fix home first.
shogun wrote:VexXx Dogg wrote:I wouldn't venture into how we can help them, because our own economy is limping - we have to fix home first.
And secure our borders. immigrant influx imminent.
EmilioA wrote:Take the example of toilet paper
noshownogo wrote:Time to lock down our coastal boarders
shogun wrote:VexXx Dogg wrote:I wouldn't venture into how we can help them, because our own economy is limping - we have to fix home first.
And secure our borders. immigrant influx imminent.
EmilioA wrote:zoom rader wrote:EmilioA wrote:This why I engage ZR . It forces him to do some work.
Mind you he hasnt yet linked nationalization to the economic hard times. Things were going fine until oil fell.
No !
We have too many lazy fcuks on truner that know jack chit.
Nationalization encourages a lazy non producing workforce, think Wasa, Caroni, public servants. Trade Unions to blame for this aswell. USSR had the same chit going on.
The UK was in the same situation in the 1970 and early 1980s and Thatcher got rid of useless Nationalise boards, such as British Rail, Steel, Coal mines, British Airways, Post office Telecoms, British Leyland, Council housing and many others.
SO how come the Venezuelan private sector also in trouble ? They should be making a killing with they high productivity.
pete wrote:I read that part of the problem they faced and why they ran out of things like toilet paper is they only issued US to certain people.. black market went out of control so eventually the companies making toilet paper etc could make more money by just selling the US they were issued than buying raw materials to manufacture the toilet paper and sell.
This too. The Venezuelan govt have 3 different rates for selling US. One for Govt agencies, One for Business and one for the Public.
The business sector realized they could earn more Bolivars by applying for US at the business rate and then selling to the public at the public rate.
The problem with socialism isn't that you eventually run out of other people's money. It's that you eventually run out of oil money.
Well, at least in Venezuela. It doesn't have an economy, so much as a poorly run oil exporting business that isn't enough to subsidize everything else. And that was true even when oil was more than $100 a barrel. So now that it's under $50 a barrel, Venezuela's government has gone from defaulting on its own people, as former minister Ricardo Hausmann put it, in the form of rampant inflation and shortages, to really doing so, to the point that it might have to start defaulting on its debt, too.
It shouldn't be this way. Venezuela, after all, has the largest oil reserves in the world. It should be rich. But it isn't, and it's getting even poorer now, because of economic mismanagement on a world-historical scale. The problem is simple: Venezuela's government thinks it can have an economy by just pretending it does. That it can print as much money as it wants without stoking inflation by just saying it won't. And that it can end shortages just by kicking people out of line. It's a triumph of magical thinking that's not much of one when it turns grocery-shopping into a days-long ordeal that may or may not actually turn up things like food or toilet paper.
This reality has been a long time coming. Venezuela has the most oil reserves in the world, but not the most oil production. That's, in part, because the Bolivarian regime, first under Chavez and now Maduro, has scared off foreign investment and bungled its state-owned oil company so much that production has fallen 25 percent since it took power in 1999. Even worse, oil exports have fallen by half. Why? Well, a lot of Venezuela's crude stays home, where it's subsidized to the you-can't-afford-not-to-fill-up price of 1.5 U.S. cents per gallon. (Yes, really). Some of it gets sent to friendly governments, like Cuba's, in return for medical care. And another chunk goes to China as payment in kind for the $45 billion it's borrowed from them.
That doesn't leave enough oil money to pay bills. Again, the Bolivarian regime is to blame. The trouble is that while it has tried to help the poor, which is commendable, it has also spent much more than it can afford, which is not. Indeed, Venezuela's government is running a 14 percent of gross domestic product deficit right now, a fiscal hole so big that there's only one way to fill it: the printing press. But that just traded one economic problem — too little money — for the opposite one. After all, paying people with newly printed money only makes that money lose value, and prices go parabolic. It's no wonder then that Venezuela's inflation rate is officially 64 percent, is really something like 179 percent, and could get up to 1,000 percent, according to Bank of America, if Venezuela doesn't change its byzantine currency controls.
Venezuela's government, in other words, is playing whac-a-mole with economic reality. And its exchange-rate system is the hammer. It goes something like this. The Maduro regime wants to throttle the private sector but spend money like it hasn't. Then it wants to print what it needs, but keep prices the same like it hasn't. And finally, it wants to keep its stores stocked, but, going back to step one, keep the private sector in check like it hasn't. This is where its currency system comes in. The government, you see, has set up a three-tiered exchange rate to try to control everything — prices, profits, and production — in the economy. The idea, if you want to call it that, is that it can keep prices low by pretending its currency is really stronger than it is. And then it can decide who gets to make money, and how much, by doling out dollars to importers at this artificially low rate, provided they charge what the government says.
This might sound complicated, but it really isn't. Venezuela's government wants to wish away the inflation it's created, so it tells stores what prices they're allowed to sell at. These bureaucrat-approved prices, however, are too low to be profitable, which is why the government has to give companies subsidies to make them worthwhile. Now when these price controls work, the result is shortages, and when they don't, it's even worse ones. Think about it like this: Companies that don't get cheap dollars at the official exchange rate would lose money selling at the official prices, so they leave their stores empty. But the ones that are lucky, or connected, enough to get cheap dollars might prefer to sell them for a quick, and maybe bigger profit, in the black currency market than to use them for what they're supposed to. So, as I've put it before, it's not profitable for the unsubsidized companies to stock their shelves, and not profitable enough for the subsidized ones to do so, either.
And, remember, this was a problem even when Venezuela had dollars. Now it doesn't. Not when 95 percent of its exports come from oil, and its price has fallen by half. (It's actually a little worse than that, since Venezuela's crude is so heavy that it sells at a $5 a barrel discount to the rest of the world's). Without as many petrodollars, Venezuela has had to cut back on imports so much that its shortages, which had already hit 30 percent of all goods before the central bank stopped keeping track last year, have gone from being a fact of life to the fact of life. Things are so bad that there isn't a bank run — who wants to save their worthless currency? — but rather, as Jonathan Wheatley puts it, a supermarket run. People have lined up for days to try to buy whatever they can, which isn't much, from grocery stores that are even more empty than usual. The government has been forced to send the military in to these supermarkets to maintain some semblance of order, before it came up with an innovative new strategy for shortening the lines: kicking people out of them. Now they're rationing spots in line, based on the last digit of people's national ID cards.
But just like Venezuela has defaulted on its most basic obligations to its people — like, say, laundry detergent — it might also default on its financial ones. It can't afford anything, not food, not diapers, and not bond payments, if oil stays around $50 a barrel. Now, investors have assumed that they'd be able to seize Citgo, which is owned by Venezuela's state-owned oil company, as payment if the country ever defaulted on its debt. But now it looks like that's not true. That, together with falling oil prices, is why credit default swaps, basically debt insurance, on Venezuela's 5-year bonds have exploded the past few months. The fiscal situation is so dire that Citgo, which, remember, supposedly wouldn't count as a part of the Venezuelan state, is planning on taking out $2.5 billion in debt to give to its parent company, which would presumably pass it along to the government. This makes sense, as much as anything does in Venezuela, because Citgo has a higher credit rating than the government, so it can borrow, and if it defaults, it will just be as if the country sold it.
It's a man-made tragedy, and the men who made it won't fix it. Maduro, for his part, blames the shortages on the "parasitic" private sector, while the food minister doesn't get what the big deal is since he has to wait in line at soccer games.
So it turns out Lenin wasn't just right that the best way to destroy the capitalist system is to debauch the currency. It's also the best way, as Venezuela can tell you, to destroy the socialist one.
1UZFE wrote:shogun wrote:VexXx Dogg wrote:I wouldn't venture into how we can help them, because our own economy is limping - we have to fix home first.
And secure our borders. immigrant influx imminent.
U guys hav to visit Lange Park. There is alot of Vene and Dom Rep there.
SOLID FACTOR wrote:yo quiero un Venezuela mujer para mi esposa..para mi amor me gusta eso mucho...maldita trinidadian mujer
Mujeres venezolanas les gustan varones que tienen concordancia gramatical.SOLID FACTOR wrote:noshownogo wrote:Time to lock down our coastal boarders
MALDITO ESTUPIDO TRINIDADIAN ESO MAMGUEVO TU MARICOMA....me gusta dios castigar para ti porque usted extremos ESTUPIDO...MAMGUEVO....Venezuela necesitó ayude por favor..por favor ayudar... pero me gusta un chica para mi esposa en siempre
buenas días el tuners
zoom rader wrote:What Private sector?
They Nationalize it all only family run businesses are allowed to operate
The Venny Government killed it off
/
SOLID FACTOR wrote:noshownogo wrote:Time to lock down our coastal boarders
MALDITO ESTUPIDO TRINIDADIAN ESO MAMGUEVO TU MARICOMA....me gusta dios castigar para ti porque usted extremos ESTUPIDO...MAMGUEVO....Venezuela necesitó ayude por favor..por favor ayudar... pero me gusta un chica para mi esposa en siempre
buenas días el tuners
EmilioA wrote:zoom rader wrote:What Private sector?
They Nationalize it all only family run businesses are allowed to operate
The Venny Government killed it off
/
So you saying the private sector wasnt productive enough to compete ? Doesnt that put a hole in your theory ?
I trust you will now provide proof of this total lack of a private sector and well as an explanation of how family run businesses are not private.
fallen_angel wrote:we safe, god is a trini
god also say to love your neighbour, so we have to take in some vene women
zoom rader wrote:EmilioA wrote:zoom rader wrote:What Private sector?
They Nationalize it all only family run businesses are allowed to operate
The Venny Government killed it off
/
So you saying the private sector wasnt productive enough to compete ? Doesnt that put a hole in your theory ?
I trust you will now provide proof of this total lack of a private sector and well as an explanation of how family run businesses are not private.
Do some research, this is not UWI or UTT where kids are spoon fed.
But here a clue for you to pass your exams
http://www.theglobeandmail.com/news/wor ... e23666497/
Venezuela increases 2-cent petrol prices to 85 cents a litre
Updated February 18, 2016 18:18:01
Venezuela's President Nicolas Maduro has announced an increase of petrol prices in his country, which had cost around 2 cents a litre, to around 85 cents a litre.
Premium petrol will rise from less than 0.1 bolivars ($0.02) a litre to 6 bolivars ($1.32) — but Mr Maduro has also announced a 37 per cent devaluation of the currency, which would see a price at the pump of around 85 cents a litre.
BRZ wrote:Maybe we can organize a trade? One Big battam Vene for 100 powder neck kinda female looking thingyamagiggy.
TurboSingh12 wrote:BRZ wrote:Maybe we can organize a trade? One Big battam Vene for 100 powder neck kinda female looking thingyamagiggy.
Them have enough warahoon dey
zoom rader wrote:No wonder Trin in mess we have lazy school leavers who only looking for spoon feeding.
EmilioA wrote:zoom rader wrote:No wonder Trin in mess we have lazy school leavers who only looking for spoon feeding.
Now you blaming your schooling for your lack of evidence ? Man up and take responsibility for yourself nah.
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