Thanks to the great investigative journalism that is ingrained in CNN’s stellar class of
Only the Socialists at CNN could put a positive spin on a country with an inflation rate of 1.7 million percent and where 90% of the country lives in abject poverty. Look back 20 years and Venezuela was the richest country in Central/South America with the highest standard of living in the area.
According to CNN, Venezuela has plenty of food, water, medicine, dry goods, gasoline, and everything else that makes a country livable. Venezuelan President Maduro has announced things are so good that he is raising the minimum wage by 300% for the working citizens.
According to the Venezuelan government, and CNN, the increase is a “gift” to the working people of Venezuela. The lowest paid workers were already making the princely sum of 4,500 Bolivares a month, which has now been increased to 18,000 Bolivares a month.
President Maduro stated last week that the people of Venezuela have never been better off in history economically or security wise, despite the conspiracy being waged against them by America and other outsiders.
What CNN did not report were facts other than the minimum wage raise. CNN reported that Venezuela is suffering due to a conspiracy by capitalist countries, i.e. the USA, not due to the incompetence and corruption of their Socialist government. They are merely repeating the talking points of the Socialist regime in Venezuela, not the facts.
We’ll leave it to CNN to manufacture lies and report them as facts, as that is what they do. We’ll continue to report the facts nevertheless.
According to Venezuela’s Socialist regime, the poverty rate fell from 4.4% to 4.3% in 2018, but according to the three leading universities in the country, the extreme poverty rate increased by 61% in 2017, when the poverty rate was established as being just over 90% nationwide.
With a 1.7 million percent inflation rate, the paper the
Leading economists of the world agree that at Venezuela’s current inflation rate the “raise” will lose its value within days.
In a country where a cup of coffee costs 285,164% more today than last year at the same time, you could buy a cup of java for 400 Bolivares yesterday, which was about 10% of your monthly pay. Today it has already doubled in cost to 750 Bolivares for a single cup of coffee.
But who spends this amount of money on coffee when the 18,000 Bolivares under the “new” minimum wage will only purchase about 3 pounds of chicken? Also, the people are only allowed to purchase food on the government authorized day of the week for their family.
One day a week, and they are allowed to
Maduro, in an attempt to rally the people to his government, ordered 23 state-owned companies to put 15% of their production into the “Petro”, a complex cryptocurrency that is backed by Venezuela’s natural resources such as gold and oil. Even Venezuela’s only real source of income, the national oil company PDVSA is required to put up 15%.
The “Petro” is not recognized anywhere in the world outside Venezuela, except by Alexandria Ocasio-Cortez, the American Socialist genius.
Just for comparison, this is what Bolivares will buy you in Venezuela before the minimum wage increase. We’ll list the amount, item, the cost in today’s Bolivares, and in parentheses the cost on the Venezuelan black market in USD, and the cost in the USA for the same amount of the item.
Prices below are in the “new” Bolivares released 2 months ago:
- 1/2 kg Ground Coffee = 2,000 Bolivares ($201 / Under $10)
- 1 kg of Chicken = 13,000 Bolivares ($1,340 / Under $9)
- 1 kg Bag of Pasta = 3,000 Bolivares ($301.50 / Under $2)
- 1 kg Powdered Milk = 7,000 Bolivares ($703.54 / Under $6)
- 1 kg Maize Flour = 3,000 Bolivares ($301.50 / Under $3)
- 1 dozen Eggs = 1,500 Bolivares ($150.76 / Under $1.50)
- 1 Watermelon = 400 Bolivares ($40 / Under $5)
What CNN refuses to report is that Venezuela is the epitome of a riches to rags story. Once, by far the richest country in Latin America, and having the largest known oil reserves in the world, Venezuela is in the midst of hyperinflation estimated at 42,000%. In 2018 inflation hit 1.7 million percent. In June 2018, 1 million bolivars were worth a mere 29 cents. They are worth even less now since their latest currency devaluation.
Venezuelans have eaten most of the animals in their zoos. Cats and dogs are scarce having been mostly eaten for survival, and even if you had enough money to feed your family,
This is why nearly 3.5 million Venezuelans have left the country for anywhere else. The Venezuelans are victims of their government, unlike the Hondurans and El Salvadorans who are victims of their own greed, laziness, refusal to educate themselves, and the violence they espouse.
Even though Venezuela has the world’s largest proven oil reserves, they import 300,000 barrels of oil each month, as they no longer can bring the oil out of the ground and transport it to the refineries for themselves. The refineries are not functional as Chavez/Maduro have fired all the non-Venezuelan engineers, technicians, etc. that knew how to run a refinery. Remember: Gringos are evil, wicked, mean and nasty. Ask CNN.
Over the past two decades, the Socialists have put their friends in charge of the major industries, whether they had education or knowledge of the industries they were being put in charge of.
What happens when you put a ditch digger in charge of the banking system?
What happens when you put a gardener in charge of the educational system?
What happens when you put a street sweeper in charge of the hospitals and medical infrastructure?
What happens when you put a bus driver into office as the President?
You get VENEZUELA in 2019!