Inflation In Venezuela Up Over 500%+ This Year

in #venezuela7 years ago

Many protests in Venezuela have left hundreds of people in the country dead and even more injured or jailed etc. For several years now, the people in the country have been faced with increasing problems like food shortages, medical shortages, triple-digit inflation, and rising crime.

Those who have had the ability to try and leave the country have sought to do just that, and in 2017 it's reported that Venezuelans topped the list of asylum seekers to the US.

This year alone, roughly 20,000+ applications have been filed.


International critics and protesters in the country, have both labeled the current political regime there as an authoritarian dictatorship and say that they are dealing with an intense amount of political corruption in the country.

Despite the criticism however, things continue to get worse and there have been hundreds of different protests that have taken place, with many carrying signs calling their current leader a dictator. Hundreds of thousands of people have taken to the streets to voice their concerns in the last several years for the worsening problems. However, those protests haven't seemed to thus far pressure the government to make any significant changes in pressing for real solutions to the current problems.

The country has a debt payment coming up at the end of this week and it's been suggested that the nation could soon reach it's tipping point if it hasn't already. While political authorities struggle to allegedly make things better, the people are left suffering.

Sending Help...

Private charities and individuals and families located overseas who have loved ones still in the country, have been quick to step up and try to form relief efforts to help those struggling in Venezuela. They frequently send things like beans, pasta, sugar, flour, toiletries, clothing, and other items. Though they've already sent tens of thousands of dollars worth of donations, there are many people who are still struggling and in need of help.

Venezuelans right now are estimated to be dealing with inflation that is up this year more than 536 percent and that has made it very difficult for them to obtain a lot of their necessities. Just a few weeks ago it was estimated that $1 would get you around 27, 000 bolivars or so on the black market.

Many people in the country are going hungry, with the military exercising heavy control over food distribution, central authorities have failed to meet their needs; no surprise there. Government authorities in numerous ways are making things more difficult for the citizens. And if you can believe it, the government there has allegedly even taken to banning certain shipments of aid supplies and prescription medicine.

Private courier services have allegedly been successful in bribing some customs officials to turn and look the other way when trying to get those relief packages into the country. And families of those still living in Venezuela say that where they used to send packages to their relatives infrequently for a special occasion, it's now become a much more serious matter. They are sending these packages to make sure that their loved ones don't go hungry.

Pics:
Getty Images via MarketWatch
Jorge Silva Reuters via WP

Sources:
https://www.reuters.com/article/us-venezuela-election/venezuela-vote-dispute-escalates-foreign-sanctions-threat-idUSKBN1CK06A
http://www.marketwatch.com/story/venezuelan-currency-crashes-to-all-time-low-on-black-market-2016-11-28
http://www.npr.org/sections/thesalt/2017/01/09/508986586/as-venezuelan-go-hungry-the-military-is-trafficking-in-food
http://foreignpolicy.com/2016/05/26/venezuelas-problems-are-political-not-economic/
https://www.washingtonpost.com/news/wonk/wp/2016/01/29/venezuela-is-on-the-brink-of-a-complete-collapse/?utm_term=.fb6f2e13f7c6
https://www.reuters.com/article/us-venezuela-economy/venezuelas-january-september-inflation-536-percent-national-assembly-idUSKBN1CB25L
https://www.cnbc.com/2017/10/24/rubio-warns-that-venezuelas-tipping-point-is-coming.html
http://www.latimes.com/world/mexico-americas/la-fg-venezuela-assembly-20170818-story.html
http://www.latimes.com/local/lanow/la-fg-venezuela-food-20171022-story.html

Related Posts:

Venezuela: One Step Closer To Dictatorship

https://steemit.com/venezuela/@doitvoluntarily/venezuela-one-step-closer-to-dictatorship

Ongoing Protests In Venezuela: Over 1,500 Arrested This Month

https://steemit.com/venezuela/@doitvoluntarily/ongoing-protests-in-venezuela-over-1-500-arrested-this-month

Sort:  

I am from Venezuela, if someone has a question about how is living in this insane economy.

💕✌ First THANK YOU SO MUCH @doitvoluntarily for the 8.50 donation towards this weeks #popcontest And of course for guest judging ! Awesomeness , it will definitely be mentioned in my Pop Contest Post Update tomorrow !💕 ✌

The corruption and dictatorship that's gone on there for way to long needs to end , although there's no end in sight . This effects hundreds and thousands of people , and is very sad really ... How long can the government continue to allow this to happen , allowing their own people to suffer !? Upped and Resteemed !

I imagine that the Venezuelan Government is just like any other Government. As long as they are able to serve their own purpose and the purpose of their masters, it does not matter to them what happens to the people.

I imagine that the Venezuelan Government is just like any other Government. As long as they are able to serve their own purpose and the purpose of their masters, it does not matter to them what happens to the people.

looks like im not the only one that's double posting all my comments ! LOL! Thanks for your kind reply , sadly this is so true , especially in this case ! 💕💕💕✌

It saddens me when people suffer in countries that are so riddled by corruption that any attempts at helping from the outside pretty much just vanish like water in the sand. Or the help for thousands of starving people ends up on some fat general's dinner table...

Upvoted and also resteemed!

A sad but good post.
Thanks for taking time to update the world

this is good story, good to know it

Really awesome article!! Upvoted... :)

It is shocking what is happening in Venezuela. This is always possible when using fiat currency. This could happen anywhere.

This should send a warning to all of us that we need to diversify risk and not hold too much fiat money. Buy gold and silver, buy cryptocurrency even buy some land if you have enough money left over.

What's occurring here in Venezuela is not too far removed from what is happening here in the U.S. Hugo Chavez, the former president expanded the powers of his executive branch in hopes of strengthening the country, both politically and economically. After leaving office (by death), he allowed Nicolas Maduro to come in and use the expanded powers of the presidency and establish an authoritarian government.

President Obama, for better or worse, expanded the powers of the presidency by creating a precedent for getting things done through the sheer number of executive orders. After succeeding Obama, Trump now enjoys expanded power and is looking to turn the government in an authoritarian direction.

There are case studies of what's happening here and elsewhere. Funny how history repeats itself, even in real time!

Do you agree? Do you see this trending elsewhere? Let me know

President Obama, for better or worse, expanded the powers of the presidency by creating a precedent for getting things done through the sheer number of executive orders.

It's a popular myth that Obama issued Executive Orders in large numbers compared to his predecessors, but it's only a myth. In two terms, Obama issued 276 Executive orders which is actually the lowest number for a recent two-term President.

George W Bush issued 291, Clinton 308, and Reagan 381.

This is true, however I believe the scope of President Obama's executive orders eclipses that of previous presidents.

i hope you follow me or vote me..

Nice work keep it up.Thanks

My friends were robbed by the Guardia in Margarita. :(

looking nice

@doitvoluntarily Hi, my familiar . I could not analyze the article, but I'm sure it's a complete article again. It's good to follow you. You share some complete things. I'm going to analyze it now. I'm looking forward to the next one. bye bye my familiar

Didn't know this was a problem thanks for bringing it to my attention. That is insane that things are like that there....

Is there a lot of farm land there? I bet people who grow food have tons of people begging them for some or possible are in danger just by doing so...

Wow, what a world we live in. Greed from one person can hurt so many. :(

~ @Timbo

this is good story .....good to know it

This is a good wake up call to all of us. Only a few years ago Venezuela had a thriving middle class. Their situation changed so very quickly and continues to deteriorate as your post points out.

Soy venezolana y me siento identificada con tu post, hay que estar aqui para sentirse parte de este momento tan terrible que estamos viviendo. todos quisiéramos tener esta ayuda

Really awesome article!! Upvoted... :)

Love the creativity! best wishes.