International

NIGHTMARE: Venezuela Struck with 7.3 MEGA EARTHQUAKE as Economy Crumbles

posted by Hannity Staff - 8.22.18

A massive 7.3 magnitude earthquake struck the northern coast of Venezuela Tuesday night; sending shockwaves through a region struggling with a crumbling economy and a collapsing socialist government.

The United States Geological Survey confirmed the mega quake occurred at 5:31pm local time near the city if Carupano.

“The earthquake was felt more than 600km further east in Caracas, where the crisis-stricken nation’s political leaders were celebrating a ‘revolutionary’ new economic plan they claim will rescue Venezuela’s crumbling economy but economists fear will make it worse,” writes the Guardian.

Read the full story here.

VENEZUELA CRUMBLES: Maduro Boosts MINIMUM WAGE by 3,000%, Says ‘TRUST ME’

posted by Hannity Staff - 8.20.18

Venezuela’s socialist government took drastic measures this week to help navigate the country through its most recent economic crisis; unveiling new regulations that boost the nation’s minimum wage by 3,000%.

The measure -coupled with slashing five zeros from the Venezuelan currency- aims to boost residents’ purchasing power, with average household items like eggs and paper towels costing millions of Bolivares.

“I want the country to recover and I have the formula. Trust me,” President Maduro told the nation in a primetime address. “We are going to begin a process of recovery in the coming days, weeks and month… It’s a revolutionary formula… unique in the world!”

“The recovery package includes measures such as raising taxes, increasing petrol prices for some drivers, and introducing a rebranded currency – the sovereign bolívar – which will have five fewer zeros than its inflation-stricken predecessor, the bolívar,” writes the Guardian.

Read the full story here.

PARADISE LOST: Inflation Nears 1,000,000% in Venezuela, Eggs Cost 2 WEEKS PAY

posted by Hannity Staff - 8.02.18

The economic crisis engulfing Venezuela reached new heights this week, with the nation’s currency seeing inflation rates nearing 1,000,000% as the socialist government struggles to contain the economic collapse.

According to the Washington Post, the Venezuelan Bolivar plunged in foreign exchange rates as the price of a dozen eggs reached 2,600,000 Bolivares in local supermarkets and shops.

“This week, for instance, the price of a dozen eggs topped 2.6 million bolívares — equal to two weeks’ pay at the minimum wage. But for a Venezuelan who can exchange dollars at the black market rate, those same eggs are a relative bargain, costing only 60 cents,” writes the Post.

“I never feel clean anymore,” said one citizen. “We’re hungry most of the time. I don’t think things will get better.”

Just this week, socialist president Nicolas Maduro admitted his government’s economic policies have totally “failed,” vowing to implement new guidelines to stabilize the crumbling currency.

Read the full report here.

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