The South American country where eggs are used as a form of currency and currency notes are found in the dustbin.
Venezuela - A South American Country.
How could things go wrong in a very country that once used to be wealthy?
Its economy is in a very terrible mess, with output falling, Above the ground, it's a nation filled with discord and misery; yet below the surface, it's immense reserves of oil, worth untold billions.
In Republic of Venezuela, inflation is completely out of control. The International monetary fund predicts it will reach 1,000,000 % by the end of the year. The country cannot borrow cash on the international markets once defaulting on a full vary of debts. To make ends meet, it chose to easily print additional and additional cash - a successful approach of making inflation.
Its economy is in a very terrible mess, with output falling, Above the ground, it's a nation filled with discord and misery; yet below the surface, it's immense reserves of oil, worth untold billions.
In Republic of Venezuela, inflation is completely out of control. The International monetary fund predicts it will reach 1,000,000 % by the end of the year. The country cannot borrow cash on the international markets once defaulting on a full vary of debts. To make ends meet, it chose to easily print additional and additional cash - a successful approach of making inflation.
What happens once inflation runs riot?
Uncertainty and unhappiness. Paper money goes out of fashion as a result of its worth is continually dropping. The wealthy invest in assets - homes, or even shares in America. Poor folks begin bartering - eggs became a kind of currency in South American nation.
What caused this?
Lots of things have gone wrong over the past 20 years, however for the most part the country's large reliance on the value of oil. It spent, and borrowed, heavily throughout the great time, then suffered once the worth fell.
Successive presidents have jointly nationalized industries - oil, steel, telecommunications, banking - and ravaged knowledgeable about workers.
Starved of investment, maintenance and skills, the oil and steel industries square measure a lot of, a lot of less productive than they were twenty years past. Adding to this was corruption.
Venezuela merely does not generate the money it has to get by.
President Maduro has brought in a very new currency - the "Sovereign Bolivar" takes the place of the stunningly misnamed "Strong Bolivar".
It's precisely the same, except that it's got 5 fewer zeroes at the tip of the quantity. So one hundred Sovereign Bolivars has an equivalent worth as ten million sturdy Bolivars.
Uncertainty and unhappiness. Paper money goes out of fashion as a result of its worth is continually dropping. The wealthy invest in assets - homes, or even shares in America. Poor folks begin bartering - eggs became a kind of currency in South American nation.
What caused this?
Lots of things have gone wrong over the past 20 years, however for the most part the country's large reliance on the value of oil. It spent, and borrowed, heavily throughout the great time, then suffered once the worth fell.
Successive presidents have jointly nationalized industries - oil, steel, telecommunications, banking - and ravaged knowledgeable about workers.
Starved of investment, maintenance and skills, the oil and steel industries square measure a lot of, a lot of less productive than they were twenty years past. Adding to this was corruption.
Venezuela merely does not generate the money it has to get by.
President Maduro has brought in a very new currency - the "Sovereign Bolivar" takes the place of the stunningly misnamed "Strong Bolivar".
It's precisely the same, except that it's got 5 fewer zeroes at the tip of the quantity. So one hundred Sovereign Bolivars has an equivalent worth as ten million sturdy Bolivars.
Are our leaders making the country another veneer through freebees, subsidies, pensions, debt mafia and free services ?
In the 1970s, Venezuela was one of the 10 wealthiest countries in the world, with small rivers, rivers, green landscapes and oceans. During the election for a leader to come to power, he declared that monthly allowances for poor and homeless people. Greatly won. The country's wealth was distributed to all. In the next election, workers 'and employers' salaries have been increased by 5 times. Single parenting was exceptionally rewarding for women. Elections came again in 2008. He declared a 'piece of bread very cheap.' Many companies have been closed down as unable to produce bread at such low price. More than three million rich industrialists, skilled workers and intelligent students have left the country. The President did not retreat. There is no money in the country. The toilet paper was also imported from abroad. No work in the country.
Happy eating, enjoying the government subsidies. People got free and subsidies for free and the government did not expect the impending tsunami. Oil price dropped in 2005. This increased currency printing. Where do you see it? Money that is not worth the money ..! In 2018, the inflation reached 13,00,000 %. When the free subsidies are stopped, the young people who are familiar with it are looting the knives and pistols. Animals died for want of food in the zoos. Venezuela's capital city and headquarters is Caracas. Carcass is the animal carcass. (The dead body of an animal). Every year, there are about 20,000 murders in every city in the city. Venezuela, the world's 10 worst corrupt country, currently ranked number one in the list of the world's most dangerous bloodthirsty nations. The rest of the world has warned their citizens tourists not to go to Venezeula. There is no money for imports. No electricity. Water is supplied once in four days that too for some minutes. Shops do not even have tooth-paste. No money to buy. The number of starving people has increased from 30 to 66% in five years. The girls who stand on the roads all night to sell the baby for a little bread.
That's a society. But not by giving it free. Our leaders should learn a lesson from this. Before that, people need to figure out those leaders. Tell the example of this country .... There is a big error in our country's electoral system. Only the right to vote cannot change the country's future.
Change is not in leaders or parties, but in the people to elect the right person.
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