Latin America

hack89

(39,181 posts)

13. When your annual budget is $165 billion

Fri Oct 3, 2014, 09:45 AM

Oct 2014

and oil revenues are $100 billion (Which are 95% of total revenue), then yes, you can go broke.

Rich people go bankrupt every day - all you have to do is spend more than you make.

As for price - I don't think you are grasping the real issue. All those goods are imported - which means they are purchased in dollars. Because there is a shortage of dollars in VZ, either goods are not imported or they are purchased with black market dollars at a very high exchange rate. To make a profit on those goods (hell, just to break even) the retailer has to charge high prices. The most common outcome is that the retailer simply doesn't import goods - why do you think there are such widespread shortages of food, medicines and basic consumer goods?

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Cost of living Caracas [View all] Bacchus4.0 Oct 2014 OP

Is trashing Venezuela your only trick? 99th_Monkey Oct 2014 #1

I just don't like chavistas. Still a lovely country with great people, the worst government Bacchus4.0 Oct 2014 #2

The minimum wage is 4600 Bs per month so a lot of this stuff is affordable and is contrary to your Fred Sanders Oct 2014 #3

Not if you want to buy food or clothes. 46Bs is $8 Bacchus4.0 Oct 2014 #4

46 Bs is 46 Bs. Period. No one is paid in dollars. Your attempts at currency conversion to buy Fred Sanders Oct 2014 #5

Fine with me, a quart of milk is still Bs24, Bacchus4.0 Oct 2014 #6

I have lived in and visited many other poor countries, working folks do not shop where you shop. Fred Sanders Oct 2014 #7

Well, clearly you haven't been to Venezuela Marksman_91 Oct 2014 #8

Can you post these "unimaginable prices", in local currency? At local shops? Not just in central Fred Sanders Oct 2014 #10

You keep touting that 100 billion dollar a year figure hack89 Oct 2014 #11

Your financial "analysis" is without merit or reference. Revenues are indeed in the hundreds of Fred Sanders Oct 2014 #12

When your annual budget is $165 billion hack89 Oct 2014 #13

OMG!! You really are clueless. Venezuela is certainly among the most westernized nations Bacchus4.0 Oct 2014 #9