On R4 this morning, and I paraphrase, "It's not just that they can't print enough money, they're running out of money to be able to pay the printers."
Not looking good.
I heard that, the chap was right when he said it's bad how little we've heard about it. They sound fubar'd. 🙁
the chap was right when he said it's bad how little we've heard about it.
It's all over the news here, and has been for years - but then there are a lot of Venezuelans in Spain, and apparently the Spanish government is part of the evil imperial axis that's actively working to destroy the revolution. Or something like that.
Not to mention I work with three Venezuelans, and they're all trying to get their family members out. Not good.
Well come Brexit we'll find out just how bad it is!
😉
"The problem with socialism is that sooner or later you run out of [s]other people's[/s] [b]the paper to print[/b] money"
cranberry - Member"The problem with socialism is that sooner or later you run out of other people's the paper to print money"
Their current mess has little to do with socialism tbh. Dutch disease is very much a failure of capitalism.
Amazing to see that a country with one of the largest oil reserves on the planet can get themselves into such a financial mess!
I think they've had a little help.
They needed no help, their so called leaders have deluded themselves into the situation. Its really sad that even an attempt to change a country for the better fails due to the greed of some (which country were we talking about? but I digress) and power grabs. I have been following as it has been well covered in certain sections of the media (perhaps gloating). Thought the chap on R4 this morning was good (but sad) and his comments towards the end pretty scathing about the countries former vocal international supporters. It will be civil was soon unless the president and his friends give some ground. As an aside, there oil is far to expensive to get out of the ground, about $150 a barrel. We are at a high of $50ish right now.