Skimm for 11/6/16

November 6, 2016
· by · in

Skimmed while sitting in the registration hub at work…not working.

 

Money inflation and sinking spirits

The Story

We all know that Venezuela has been in a bit of a crisis lately. Maybe “a bit” is less than fair, considering things have really tanked as of late. The drop in oil prices has the Venezuelan government desperate for money to pay back all that it has borrowed and still somehow sustain its economy. Lines are long for daily necessities that have become unbelievably expensive and almost completely unavailable. Shelves are bare, people are hungry, and money is nearly worthless. The Venezuelan currency, the bolivar, has been experiencing inflation for a while now. Once at a value of 9 bolivar to a dollar, the currency has tanked and inflation is expected to be 1,600% by next year. I paused to gasp when I read that, too. And although the decrease in value hasn’t been THAT much in the last month or so, its so bad that the tiniest decrease is quite devastating. The Chavista government is under quite a bit of scrutiny at the moment, and the people are tired of pretending inflation isn’t happening.

 

What’s next?

The people are pretty fed up, and the rest of the world is keeping a pretty close eye on the Venezuelan economy, waiting to see what will be proposed as a real solution to such a devastating problem.

 

One-party show, run by a power couple

The Story

Nicaragua is voting today (Sunday) for the next president, and pretty much everyone agrees on who it will be. It’s almost unfair, how little chance the other candidates really have. They’re saying this is “…the most one-sided election in the Central American nation since the overthrow of the Somoza family in 1979”. WHAAAAT? They really aren’t wrong though, considering Daniel Ortega has almost 60% support. Things are looking good for him serving another term with none other than his wife, Rosario Murillo, as his Vice President. Talk about a power couple, am I right? Support for Ortega comes from his social programs and economic policies, which have stolen the hearts of the Nicaraguan people. Here’s the thing: people are starting to say that he appears to be building a dynasty. Are they wrong? He IS about to win his fourth election, this time with his wife as his running mate.

 

What’s next?

Well, only the final vote count can say. But as of right now, we are expecting Daniel Ortega to spend another term as president of Nicaragua, and the Nicaraguan people seem to be more than okay with it.

Sources

https://www.washingtonpost.com/news/wonk/wp/2016/11/04/venezuelas-currency-is-dying/

http://www.bbc.com/news/world-latin-america-36319877

http://www.usatoday.com/story/money/markets/2016/08/27/doomsday-inevitable-venezuela/89335716/

http://www.bbc.com/news/world-latin-america-37892477

http://www.cnn.com/2016/11/06/americas/nicaragua-presidential-election/

http://www.bbc.com/news/world-latin-america-37864553