Quote:
Originally Posted by verticaldoug
Currency Controls to prevent capital flight
Periodic devaluations vs the USD
27% inflation
declining currency reserves
toilet paper shortages (you know it's bad then)
should I continue?
All this in historically the 5th largest producer in OPEC. With under reinvestment into the oil infrastructure, production is probably set to cliff.
Care to buy some PDVSA bonds?
It doesn't really seem to matter who runs a country, the result is typically replacing the yoke of one taskmaster for the yoke of another.
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Well said. Venezuela without oil is a big version of Haiti. And Cuba? What exactly will time tell? That a country whose citizens try to "escape" on plywood rafts is a great place? Both Cuba and Venezuela are/were run by thugs who appointed themselves rulers for life. There is nothing, nothing redeeming about that.