I haven't been following what has been going on in Venezuela too much. I met some cool guys at Anarchapulco from Venezuela, but I have not been there.
BBC is reporting the Maduro government has seized the Kellogg factory. BBC reports the company had complained of inflation and lack of materials. The Venezuelan government had also seized a previous firm in 2016.
President Maduro who has been in office for 5 years or so now asserts there is an economic war being waged against the Venezuelan government. Kelloggs stated they would suspend operations which may be what precipitated nationalization.
Kellogg has requested arbitration at the World Bank according to the BBC. It will be interesting how it all plays out. Hopefully their economy stabilizes soon and all will have reasonable access to the goods that enable live to live/thrive. The article also notes that the context is just before the Venezuelan presidential elections occurring tomorrow/Sunday, May, 20 2018.
Source
http://www.bbc.com/news/business-44136293
Uncontrolled inflation is scary
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Yep sounds terrible
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This guy has a lot of interesting things to say about what’s going on in Venezuela
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cool video, yea it sounds like it can be precarious, but I suspect Id rather be in Venezuela than Syria still. Hope things are going well!!
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Ya, I came across him and randomly. His other videos are very interesting as well
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yea been listening to them seems cool, hope you are doign well!!
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Very good post. So sad to see what's happening in Venezuela. I keep wondering if/when the people there will overthrow the goverment. The hyperinflation there is a perfect example of why we need bitcoin. Thanks for sharing.
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yea seems like crypto that can't be printed and isntantly devalued could help the people a venezueela a lot if it helped get the government away from the money printing presses
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Well said. It’s tragic what Venezuela’s government has done to their own people.
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yea seems like their formula isn't working hopefully they and everyone starts advocating free markets
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Believe me, cereal is the least of our problems...
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Yea, seems like it could be, hope things improve, I hope the weekend went well for you!!
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Thank you, I hope your weekend went well as well!
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thansk, hope this one is enjoyable!!
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i hope so...
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Yea hopefully things improve soon!!
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SE VE RICO Y APETITOSO
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thansk for your ideas, sorry I am not sure what that means.
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What's happening in Venezuela is unique. It's difficult for others to assimilate the reality because it's almost a dystopian world.
Some say and think it's just tough times. But it's a criminal state we're talking here. The military is accomplice. And no organization does anything. People are eating rats and from garbage. They are dying in the infected medical center's floor. And the only thing that is plentiful criminality, corruption, incompetence and hatred. It's a rotten place.
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yea sounds like timers aren't great there currently. I suspect just allowing the market to work would alleviate a lot of the problems.
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I didnt know kellog have this kind of problem. Hopefully nothing will affect the product oversea.
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Yea I wasnt aware oof all the goings ons but hadnt been following it too much, hopefully all the people get there needs met and can live a dignified life they chose for themselves.
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Any problem takes some time to solve. But if your are committed you will definitely gain
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yep, hopefully they all start moving in the right direction away from arbitrary coercion backed central planning.
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All the best
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thanks bud, hope you are doing well!!
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God bless you
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thanks bud, you too, hope things have been going well!!
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Yes it will go well
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good to hear, so it goes
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In Malaysia just a week ago, the people had finally able to do it peacefully, bersih (clean) way to take out the corruption and kleptocracy inclined administration (or regime) :
https://steemit.com/nepotism/@tuventure/list-of-dubious-characters-in-former-administration-in-malaysia-implied-nepotism
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thanks for sharing sounds interesting, will have to investigate malaysia more. Hope the weekend went well for you!!
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I'm from Venezuela, and I don't think this will solve soon. Tomorrow's election aren't internationally validated because they aren't done following rules.
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I agree, I dont think seizing propertry and central planning will solve any problems. Hope things are going well for you!!
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Thank you, crises are an opportunity to grow.
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yep, hopefully the actions go in the right direction
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It'd be interesting to see how cryptocurrencies can manage a hyperinflationary crisis
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Maybe it would help, but remember that the country has a lot of poverty, people that don't have a phone or even a PC, so they wouldn't have a chance to access to them.
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yea crypto seems like it could be good, not sure where petro is gonna go.
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How many times does socialism have to fail before people realize it's not a viable option? All powerful, centralized governments will always enrich themselves and their friends at the expense of the people. The only longterm solution to poverty is a free market.
I pray the people of Venezuela can peacefully get out from under the boot of their corrupt government.
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I think Milton Friedman well describes greed and human nature.
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hello I hope you are well nothing far from the reality what you published is very true. Now kelllog thinks that with the arbitration which mediates Banco Mundia will get something with the government of Maduro because they are very, very wrong, the government will not give a $ for the company since the expropriation and they claim that what Kellog is doing is incostitucional and it is for this reason that they are going to turn a blind eye
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Yea it is interesting. I wish I could read spansih better, sounds like an interesting constitution that allows such action. So it goes. Hope the weekend went well for you!!
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Hi, I hope you are very far from reality. What you posted is very true. Now, Kelllog thinks that with the arbitration that Banco Mundia mediates, it will get something with the Maduro government because they are very, very wrong, the government will not give $ to the company since the expropriation and they affirm that what Kellog is doing is unconstitutional and it is for this reason that they are going to turn a blind eye
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so it goes, hope you are findign your audience here on steem network
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Good information
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thanks yea just trying to talke about stuff i see
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I think president Maduro should not be voted in again because during his first term ,there is no serous foundation that has the ability to change the economy of Venezuela.
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C'est la vie, hopeufully someday we dont force people into coercion backed governments that are unaccountable
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It is true, and it is another company that, like many, leaves the country, it is too sad, we have pure yellow top brands in Venezuela, we are going through a very sad moment in our history. The cereal is the least, many things like medicine there are not, I suffer from asthma and I do not get my treatment completely, mine is something normal, but in Venezuela people are dying from lack of medicine and hunger .
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I hope you get the treatments you need, it sounds like a bad time down there. I wish all tariffs and embargos were ended worldwide so all people could have equal access to the global market
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This dictatorial "government" and drug trafficker steals everything they want for 20 years doing it with the argument that they put it to work in the service of the people ... LIE! everything they touch is destroyed by thousands of companies destroyed and finished by these plagues. I only ask God to help us and we can see his justice soon. Thanks for this post
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Yea, hopefully justice is realized someday and the market quits being interferrred with so all people can have access to consumer the realities they choose for themselves.
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