Venezuela Update

Venezuela’s hyperinflation of the bolivar is set to reach 1,000,000% in 2018.

Venezuela’s oil production was 2.5 million bbd In January 2017.  It dropped to 1.36 million bbd in May 2018.

The culmination of chronic mismanagement and underinvestment, which resulted in shortages of basic equipment and supplies for years now across Venezuela’s oil fields, has all taken its toll.

Refugees from Venezuela continue to seek food and shelter in all neighboring countries. The 4 million refugee estimate is growing and host countries are maxing out. 

https://www.csis.org/analysis/how-low-can-venezuelan-oil-production-go

https://www.washingtonpost.com/world/2018/08/23/venezuelas-refugee-exodus-is-biggest-crisis-hemisphere/?utm_term=.2d18281f1f39

https://www.cfr.org/report/venezuelan-refugee-crisis

Comments

I suppose it’s too simple to allow families of Venezuelans to go to work on abandoned farms and produce food for themselves and the rest of the citizens without any government interference. If some of them can fix abandoned tractors and get some gas money, they could start to rebuild.

The Zimbabwe hyperinflation ended when they converted to the US Dollar in 2015. Their history is below:

https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe

Norb Leahy, Dunwoody GA Tea Party Leader