Venezuela: Economical Disaster For Everyone

Venezuela is in an economical collapse, where their oil (it’s main source of GDP) is tanking in price to a point where companies question the making of crude anymore. In the process, we see the economy has a toll on those who live in Venezuela. The economy collapsing brings bad news to all in Venezuela. Jobs go misplaced and become scarce, and the whole production of lifestyles is at a standstill. No jobs or occupations results in little to no money to support those in need. So we end up with a problem on our hands. What is Venezuela going to do? Their lifestyle is at stake due to the economy not working well for them.

money-venezuela-bolivar-coins-currency

The current government is only operating 2-3 times a week, resulting in the government itself not being effective. Therefor, since there isn’t a structured government, there isn’t an effective civilization.The hyper inflation soon to be imposed on the country is a bad idea, as it is one of the final stages of the economy showing struggle. People in the country give the estimates to be 8-12 months, but some think otherwise. Given the circumstances, they are seeing that the hyper inflation could occur as close as 3 months. This does not bode well for the population of Venezuela.

 

Source:

http://www.miamiherald.com/news/local/news-columns-blogs/andres-oppenheimer/article73657547.html

 

 

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1 thought on “Venezuela: Economical Disaster For Everyone”

  1. This issue that you posed is an interesting topic of economic problems around the world. This situation seems similar to the ones that we see in the news like Greece and even our own Puerto Rico where the economic situation for the countries are failing. I fear that it is a problem of capitalism and feel the need for the countries to restructure to socialism instead.

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