Forbes and other news sources are reporting that Venezuela’s National Guard and Maduro’s low-income base are involved in demonstrations against the current regime. The Miami Herald indicates there will be a large anti-government march. Jan. 23 marks the 61st anniversary of the military uprising that toppled dictator Gen. Marcos Pérez Jiménez. They hope that Wednesday’s …
Venezuela will struggle to produce 1 million barrels per day through 2019. The IMF and most other analysts expect the reported November production of 1.137 million barrels per day to drop by 18% or more. Oil production is currently falling at 50,000 to 100,000 barrels per day each month. Venezuela Has $600 Million to $1 …
Nextbigfuture wrote several articles in early 2018, where we looked at the rapid economic and social collapse in Venezuela and believed it would lead to a military coup. Nextbigfuture predicted the coup would happen by the end of 2018. There are now about 26 days for that to happen. Clearly, this is highly unlikely. Venezuela’s …
Venezuela’s consumer prices rose 834,000 percent in the 12 months through October, according to a report published by the opposition-controlled Congress. The IMF expects hyperinflation to reach 10 million percent in 2019. The number of private businesses operating in Venezuela has plummeted from 650,000 in 1998 to only 140,000 in September. Venezuela has $150 billion …
In political science, the term banana republic describes a politically unstable country with an economy dependent upon the exportation of a limited-resource product, such as bananas or minerals. Honduras is the poster-country that defines the term banana republic. There is some history and economics relevant to the Caravan of people from Honduras. Venezuela and Cuba …
The collapse in socialist Venezuela has been extremely bad for three years. There has been starvation, hyperinflation and terrible shortages and a dysfunctional socialist economy. About 2 to 3 million Venezuelans have fled to other countries. People have eaten dogs, zoo animals and garbage. People are buying rotten meat to survive. There are many power …
Hugo Chavez and his successor Maduro have brought starvation and economic ruin to Venezuela. Venezuela did have 60% poverty when Chavez started but starvation and crime rates become far bigger problems under Chavez. Sean Penn in a recent interview on the Daily Show still indicates that he thinks Hugo Chavez was not to blame for …
Venezuela is on the brink of ruin. The former mayor of Caracas dared to challenge President Nicolas Maduro’s authoritarian regime—and was made a public enemy. The x-mayor is living in exile in Spain. In Venezuela, as many as 15.5 percent of children under the age of 6 are undernourished, and another 20 percent of all …
IEA (International Energy Agency) and Saudi Arabia oil prices will go and stay above $80 per barrel as output from Venezuela and Iran drops. Saudi Arabia lifted output by 70,000 barrels a day to 10.42 million last month. This is short of the 11 million barrels per day that they promised. Venezuela could drop from …
Iran is launching a cryptocurrency backed by its national fiat currency the Rial. Transactions will be recorded on a private blockchain based on open-source Hyperledger Fabric technology. The Central Bank of Iran will control the issuance of new tokens at their discretion. The new cryptocurrency would help move money and avoid sanctions. Venezuela has tried …
Venezuela was producing oil at about 2.6 million barrels per day in 2015. OPEC estimates Venezuela produced 1.278 million barrels per day in July. This is down from 2.15 million barrels per day in 2016 and 1.91 million barrels per day in 2017. Analysts expect Venezuela’s oil production to fall to below 1 million bpd …