The Venezuelan economy continued to crumble this week, with ultra-inflation of 1,000,000% sending the price of a single chicken to nearly 1.5 months’ worth of the average worker’s salary.
Residents throughout the oil-rich nation are struggling to emigrate to neighboring Colombia despite claims by Venezuela’s socialist President Nicolas Maduro that a recent assassination attempt was orchestrated by Bogota.
“We are political persecuted, we have been persecuted by this government. Everyone who has been persecuted by the government has had to flee,” said a Venezuelan man crossing the bridge into Colombia. “We have left our country looking for a new horizon because they want to kill us, they have killed our families and hide everything that’s happening around the world from Venezuela.”
“We need the international community to understand that the United States – yes, we’ve given $60 million and we’re giving $9 million more today – but everyone needs to step up and everyone needs to be loud against Maduro and force him to leave,” said Ambassador Nikki Haley earlier this week.
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PARADISE LOST: Inflation Nears 1,000,000% in Venezuela, Eggs Cost 2 WEEKS PAY
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.
PARADISE LOST: Venezuela's Socialist President Tells Starving Residents to ‘STOP WHINING’
Venezuela’s socialist President Nicolas Maduro urged his nation’s starving and impoverished citizens to quit “whining” about the escalating food and water crisis; saying he “wants solutions comrades!”
According to France 24, Maduro was speaking to members of his government after a crippling power outage shutdown nearly 80% of the country’s capital; admitting his economic programs and production models “have failed.”
“The production models we’ve tried so far have failed and the responsibility is ours, mine and yours,” said the President. “Enough with the whining… we need to produce with or without (outside) aggression, with or without blockades, we need to make Venezuela an economic power,” he added late Monday, with the country grappling with a four-year long recession.”
“No more whining, I want solutions comrades!” he added.
Venezuela is in the midst of a four-year depression, with food, water, fuel, and electricity nearly vanishing throughout the nation.
Leading economists warn the struggling country may see inflation as high as 1,000,000% within the year.
Read the full story here.