Venezuela: Starving For Some Freedom
The economic shortcomings that are a result of the centrally planned economy in Venezuela, continue to fuel political unrest in the nation. The people in that region continue to suffer as they struggle to survive with hyperinflation and a corrupt government that has little regard for their daily standard of living.
A growing number of Venezuelans have tried to flee to other regions to try and survive, those who have had the means to, and they’ve been turning to places like Peru, Colombia, Brazil, the US, and elsewhere.
It’s estimated that over 4 million have already had to leave their home. Not everyone who wants to is able to leave though and for those who are left in the country, they are left battling issues like hyperinflation, increasing political unrest, as well as food and medical shortages.
Annualized Hyperinflation = 448,025%
Protestors have been arrested, jailed, and killed. And right now, hyperinflation is crippling the region and prices continue to climb. The hyperinflation estimate above was reported in January.
And to deal with that financial storm the government now says that it thinks the best solution is to simply revalue their currency and knock a few zeros off; making way for the new Sovereign Bolivar.
It's not the first time...
Roughly a decade ago, the government in Venezuela had tried the same re-branding tactic. They sought to take a few zeros off the currency and name it something else, they called it the strong bolivar. And these ideas were put forth a decade ago as a solution to combat inflation. And yet they failed. Here we are once more though, being told that it’s wise to try again.
What the people in Venezuela need is freedom, the freedom to try and come up with creative solutions to the many different problems that they face. And so long as there are strict, rigid controls in place that are telling them how to live their daily life, it’s preventing them from doing any better. They need the freedom to help one another peacefully, and the state refuses to allow them to do that.
Many people will spend all day, waiting for hours in a line at the market, only to come out with a handful of items that they hope can feed them and their loved ones for weeks at a time. And much of what they are used to having or need, is not available any longer.
Delis in the country reportedly had to stop using scales because of the hyperinflation, the price was too high—deemed to be incalculable. And deli locations aren’t the only ones with those sorts of problems.
For folks who are interested in buying a pair of shoes or maybe a serving of lasagna for dinner, they can’t make the purchase all in one transaction. The numerical value for those items cannot fit onto the screens of the older debit and credit card machines, so customers are left having to make the purchase in several transactions.
It's alleged that with the way things are right now, 10,000 bolivars is only going to get you two mint candies. And folks aren't allowed to take out more than that from ATMs. A bar of soap is said to cost around 200,000 bolivars, and a carton of eggs goes for roughly 480,000 bolivars. In US currency, that's estimated to be about .5 cents for the mints, about $2-3 for the soap, and about $12-14 for the eggs.
Many people there have now had to eliminate meat from their diets, most are left consuming large amounts of plantain or yucca.
The currency has become increasingly worthless, to the point that artists have resorted to using lower denomination bills to create art that they sell on the side of the street (see below).
Currency Competition
Because of a national shortage of banknotes, the town of Elorza started issuing its own paper currency. And for those living in the town who want to obtain some, they are able to purchase the currency with a bank transfer from the mayor’s office. Another region, known as El Panal that’s located in Caracas, also created its own paper currency that locals could exchange for goods.
Aside from trying to create their own currencies, Venezuelans have also opted to resort to bartering with one another to try and get what they need. Locals are now trading with each other for various goods and services and social media is helping them connect and find people to exchange with.
While authorities in the region continue to violate property rights and human rights on a regular basis of the people there, how can they hope to ever truly bring about any lasting or coherent solution? Their central planning activities have failed them and produced a vast amount of human suffering. People in that region are starving, not thriving.
Considering that this direction hasn’t worked out for them, and that the standard of living has drastically fallen for so many, one might assume that they’d toy with the possibility of moving in an alternative direction—toward freedom. But that doesn’t ever seem to be the case. It’s more of the same old, so let’s see how their revaluing of the currency goes for them this time around. While those toying with the control panel sleep soundly with full bellies, the people they rule over who are starving and suffering, will continue to wait for the government to bring them the solution that they think is eventually coming.
Pics:
Pixabay
giphy
via me.me
Carlos Eduardo Ramirez - Reuters via NBC news
Mariana Zuniga via NBC
Sources:
https://www.bloomberg.com/news/articles/2018-03-14/venezuela-s-hyperinflation-is-breaking-deli-scales
https://www.nytimes.com/2007/03/18/world/americas/18venezuela.html
http://indianexpress.com/article/world/venezuela-beyond-68-deaths-inflation-plummeting-living-conditions-and-an-authoritarian-regime-5115459/
https://www.univision.com/univision-news/latin-america/empty-shelves-a-day-at-a-venezuelan-pharmacy
https://www.nbcnews.com/news/latino/barely-surviving-amid-soaring-inflation-life-daily-struggle-venezuela-n854746
http://www.bbc.com/news/world-latin-america-43457184
https://venezuelanalysis.com/News/13740
https://www.aier.org/blog/venezuelans-revert-pre-money-era-barter
https://www.bloomberg.com/news/articles/2018-01-18/venezuelan-hyperinflation-explodes-soaring-over-440-000-percent
Thanks for sharing this @doitvoluntarily . Its a very sad situation that I really hope is resolved soon . Upped and resteemed ✌💕👍
Hello friend @doitvoluntarily, if your friend here in Venezuela is a disaster we have a corrupt government clinging to power, we Venezuelans suffer daily to get food, medicine, cash and much more. a number of Venezuelans have already emigrated to other countries as if seeking a quality of lives that we do not have here, thanks for sharing this information that helps us see it all over the world
Hello Friend. you have more than the reason with everything you have put in your publication those of us who are still in Venezuela are going through a strong crisis pir blame a corrupt government that only think to be well only they and the people who die of hunger or lack of real medicines is a very extreme crisis, but until the government gets out of power. we will not have peace. Many of us Venezuelans still have faith that one day we will reappear as before without leaving the country or taking zero from the currency. This corrupt government wants to cover the sun with a finger. Regards, thank you for sharing this information with us.
Hey buddy. Wow, incredible to see you do an article on this just after I lent my spare bed in my hotel to a nice 25 year old girl (nothing happened I'm a up-standing gentleman!) from Venezueala.
This is here in Santiago Chile. She sings and plays the guitar on the street, in restaurants, and on buses. I asked her if things are really as bad as they say they are in Venezuala.
A horrible totally traumatized look washed over her face and she said YES, and worse. She makes about 30 dollars a day in 10 hours on the streets. And sends any money she has left over back home to her family so they can survive.
I've been in Latin America now since mid December. I've met many Venezuelans fleeing their country. MANY! From Ecuador south to Patagonia where I just was.
There are a lot of them here in Chile, who has the strongest economy in Latin America. A talk with a Peruvian Taxi Driver in Arequipa two weeks ago, it was explained to me that the Venezualans are screwing up the economies in Peru and other countries, as it's just a wave of poor desperate immigrants and they are putting out of balance the already weak job market and social order.
After speaking with a traveler coming from Argentina, she said in just the two month's she was in Argentina the Argentina Peso lost 10% of it's value.
She a retired economist and says Argentina is the next shoe to drop and is following in the footsteps of Venezuala. I'm heading there in about 3 weeks. Very sad, but at least my dollars will go further, hate to think that way but true. They still have some killer steak! I just hope they can stop their money from going down the tubes before it full hyperinflation.
Anyway brother! Just stopping by! Wishing you the best from Santiago Chile! -Dan "World Travel Pro!"
will be looking forward to your posts about it! safe travels!✌
Wow , so kind of you !👍👍👍✌
Be safe!
Hats off! It's always good to see there are good people in the world! I'm following you now. I want to read more from you!
Wow, thank you so much!
My pleasure!
Qué triste realidad la nuestra, @doitvoluntarily. Somos un país que, a pesar de nuestros años de democracia, seguimos teniendo una mentalidad esclavista. Cómo es posible que aún podamos soportar está vida de miseria y llanto. ¿Qué tipo de hombre somo?¿los más fuertes o los más imbéciles del planeta?Nos acomodamos y por ello no hacemos nada para cambiar nuestra historia. Triste nuestro presente, lamentable nuestro futuro
La triste realidad de nuestro bello país, pero tengo la esperanza que volvamos a ser el mejor país del mundo.
Good grief. The sheer amount of human time, creativity, productivity, relaxation, and imagination stolen from the Venezuelans is like a slow death in and of itself. An entire country of people robbed of their energy and vitality because of a few handfuls of scum on the top are attempting to force their views of reality on the people they momentarily exert a measure of physical control over. The egotism is just startling, sad and destine to fail given enough time.
Also upped and resteemed in my @momskitchen blog my friend , keep up the great work !✌👍💕
A terrible situation that has ruined so many lives within its borders. I cannot imagine having to live that way and I thank God everyday for the freedom in this country. Most people that have never visited and economically depressed communist country have no idea what it is like, and they don't even realize they should be on their knees with thanks.
Prayers to the people.
Upped and Steemed
It's really sad! Those empty shelves remind me of my childhood. I live in Romania and grew up during communism. I remember when we were supposed to be out playing, we were sent to stay in line for food. I still remember the pushing and shoving we went through each time just to get half a pack of butter, or a little piece of salami, or a couple of rolls of toilet paper or a bar of soap. Life has changed here, I hope life will get better for these people too.