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  1. #1

    Venezuela next country to default?

    http://www.zerohedge.com/news/2017-0...-payments-loom
    With Venezuela down to its last 10.5billion left in its reserves how soon is it before Venezuela either defaults, or starts seeking more Foreign aid to try to piggy back off of somebody until they decide enough is enough and default. but hey on the bright side atleast their wonderful president decided to open their borders with Columbia so they can get food and the necessities so they don't die from shortages.

  2. #2
    I don't know why Venezuela didn't default years ago. Pride?
    .

    "This will be a fight against overwhelming odds from which survival cannot be expected. We will do what damage we can."

    -- Capt. Copeland

  3. #3
    Deleted
    Quote Originally Posted by Hubcap View Post
    I don't know why Venezuela didn't default years ago. Pride?
    They are proving to the world that socialism works.

  4. #4
    Warchief Zoibert the Bear's Avatar
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    Quote Originally Posted by halloaa View Post
    They are proving to the world that socialism works.
    Yeah. It's actually very good for weight loss.

  5. #5
    Deleted
    I don't think there is a whole lot that can take them out of their current downward spiral. They simply don't have the requirements of infrastructure, trade, business and wealth to outride a depression. But even a default, would still be a soft one because there simply isn't a way they can do a hard one without dragging down a lot of neighboring countries and that is scenario that no one would want to see.

  6. #6
    Quote Originally Posted by halloaa View Post
    They are proving to the world that socialism works.
    It does without massive corruption. Also, not quite sure how it's the fault of socialism, if you put all your eggs in one basket, and then jump off a cliff with it.
    Quote Originally Posted by Jtbrig7390 View Post
    True, I was just bored and tired but you are correct.

    Last edited by Thwart; Today at 05:21 PM. Reason: Infracted for flaming
    Quote Originally Posted by epigramx View Post
    millennials were the kids of the 9/11 survivors.

  7. #7
    Deleted
    Quote Originally Posted by Linadra View Post
    It does without massive corruption. Also, not quite sure how it's the fault of socialism, if you put all your eggs in one basket, and then jump off a cliff with it.
    Well it was socialists that did it. By extension that is a failure of socialism, however one perceives it. That it was a poor model of socialism that lead to it happening is however a more important point.

  8. #8
    Quote Originally Posted by halloaa View Post
    They are proving to the world that socialism works.
    Socialism only works with strong capitalism backing it up.

    Same as capitalism only expresses itself across a wide population when paired with socialist programs.

  9. #9
    Quote Originally Posted by Lemposs View Post
    Well it was socialists that did it. By extension that is a failure of socialism, however one perceives it. That it was a poor model of socialism that lead to it happening is however a more important point.
    So let me see if I get this right: Everything was greatly diversified, until evil socialists swooped into power, put all stock into oil instead, and then, as evil as they are, crashed the global oil market? Is this what you're trying to sell me?
    Quote Originally Posted by Jtbrig7390 View Post
    True, I was just bored and tired but you are correct.

    Last edited by Thwart; Today at 05:21 PM. Reason: Infracted for flaming
    Quote Originally Posted by epigramx View Post
    millennials were the kids of the 9/11 survivors.

  10. #10
    Deleted
    Quote Originally Posted by Linadra View Post
    So let me see if I get this right: Everything was greatly diversified, until evil socialists swooped into power, put all stock into oil instead, and then, as evil as they are, crashed the global oil market? Is this what you're trying to sell me?
    No, I am actually agreeing with you that socialism by its very being isn't destined to failure. It is when it is poorly implemented that it fails, like any ideology is capable of failure when done incorrectly.
    Now Venezuela was destined to failure, by any notions. No politicians dared go in stark contrast to their current model, because it would have meant down times, but it could have made this depression lesser. So if it wasn't socialism, it would have been something else that ultimately failed.

    It is acknowledgement that is the key thing that I am trying to explain. We don't defend failures of ideologies, because then we are prone to redoing them. Instead we acknowledge failures and correct those failures to make the ideology work.
    Last edited by mmoccd6b5b3be4; 2017-03-03 at 08:57 AM.

  11. #11
    Deleted
    Quote Originally Posted by Hubcap View Post
    I don't know why Venezuela didn't default years ago. Pride?
    Extreme, destructive form of socialism that can only be found in South America.

  12. #12
    Quote Originally Posted by Lemposs View Post
    No, I am actually agreeing with you that socialism by its very being isn't destined to failure. It is when it is poorly implemented that it fails, like any ideology is capable of failure when done incorrectly.
    Now Venezuela was destined to failure, by any notions. No politicians dared go in stark contrast to their current model, because it would have meant down times, but it could have made this depression lesser. So if it wasn't socialism, it would have been something else that ultimately failed.

    It is acknowledgement that is the key thing that I am trying to explain. We don't defend failures of ideologies, because then we are prone to redoing them. Instead we acknowledge failures and correct those failures to make the ideology work.
    Indeed, now I agree. The failures of Venezuela aren't really tied to any ideology, so when people claim it's socialism that failed, it's just dishonest.

    Corruption isn't inherent to any one ideology
    Diversity isn't inherent to any one ideology, and Venezuela banked it all on oil, which with;
    Global oil prices aren't inherent to any ideology, and their meltdown combined with the first two, ment an instant fail. There isn't an ideology around that would have fared any better with the same mistakes.
    Quote Originally Posted by Jtbrig7390 View Post
    True, I was just bored and tired but you are correct.

    Last edited by Thwart; Today at 05:21 PM. Reason: Infracted for flaming
    Quote Originally Posted by epigramx View Post
    millennials were the kids of the 9/11 survivors.

  13. #13
    Resource-centric economies always falter when the price of their specific commodity falls. In Venezuela this was coupled with populist policies. Admittedly they may look like socialist policies but the point is not so much free stuff as the state taking care of stuff. They stifled whatever free enterprise still persisted.

  14. #14
    Deleted
    wrong government type maybe

  15. #15
    Merely a Setback Kaleredar's Avatar
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    As always, MST3K is able to weigh in on the venezuela of yesteryear:



    Riffs aside, it's actually quite interesting to watch what Venezuela "used" to be.
    “Do not lose time on daily trivialities. Do not dwell on petty detail. For all of these things melt away and drift apart within the obscure traffic of time. Live well and live broadly. You are alive and living now. Now is the envy of all of the dead.” ~ Emily3, World of Tomorrow
    Quote Originally Posted by Wells View Post
    Kaleredar is right...
    Words to live by.

  16. #16
    Iam pretty sure my bank account has more money in it that venzuela!

  17. #17
    Quote Originally Posted by Nymrohd View Post
    You have 10.5 billion USD???
    Yes iam Bill gates son and your next question?

  18. #18
    Quote Originally Posted by yetgdhfgh View Post
    Yes iam Bill gates son and your next question?
    Jokes on you; Bill Gates has already said that their kids aren't inheriting mass fortunes. Those go to charities.
    Quote Originally Posted by Jtbrig7390 View Post
    True, I was just bored and tired but you are correct.

    Last edited by Thwart; Today at 05:21 PM. Reason: Infracted for flaming
    Quote Originally Posted by epigramx View Post
    millennials were the kids of the 9/11 survivors.

  19. #19
    Quote Originally Posted by Linadra View Post
    Jokes on you; Bill Gates has already said that their kids aren't inheriting mass fortunes. Those go to charities.
    Google says his fortune is 85,7 billion dollars. 85 is a nice number to donate, I would settle with the change. :P

  20. #20
    Quote Originally Posted by Cyberowl View Post
    Google says his fortune is 85,7 billion dollars. 85 is a nice number to donate, I would settle with the change. :P
    Get back in the line! Womyn and children first
    Quote Originally Posted by Jtbrig7390 View Post
    True, I was just bored and tired but you are correct.

    Last edited by Thwart; Today at 05:21 PM. Reason: Infracted for flaming
    Quote Originally Posted by epigramx View Post
    millennials were the kids of the 9/11 survivors.

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