Economic Crisis Forces Country To Starve

VENEZUELA IS CURRENTLY UNDERGOING A DEVASTATING
ECONOMIC CRISIS AND AS A RESULT INDIVIDUALS LIVING IN THE
COUNTRY DO NOT HAVE ACCESS TO AFFORDABLE FOOD AND SO
MANY PEOPLE ARE LOSING AN INSANE AMOUNT OF WEIGHT IN A VERY
SHORT OF TIME.
RECENTLY THERE WAS A STUDY DONE BY THE COUNTRY'S NATIONAL
SURVEY OF LIVING CONDITION, THREE MAJOR UNIVERSITIES IN
VENEZUELA GET TOGETHER TO DO THE SURVEY AND WHAT THEY FOUND
WAS THAT ON AVERAGE PEOPLE HAVE LOST 19 POUNDS IN ONE YEAR.
ACCORDING TO THE NEW RESULTS FROM AN ANNUAL NATIONAL
SURVEY NEARLY 3/4 EVER SPAWNED AND SUPPORTED AVERAGE OF 19
POUNDS BETWEEN 2015 AND 2016.
ALSO THE PORTION OF RESPONDENTS WHO SAID THEY ATE TWO OR
FEWER MEALS INCREASED THREEFOLD CLIMBING FROM 11.3% IN 2015
TO 32.5% IN THE PAST YEAR THAT IS AROUND 9.6
MILLION PEOPLE IN A COUNTRY OF ROUGHLY 30
MILLION AND THEY ARE EATING AT THIS RATE.
WAS JUST OUT THERE FOR A 2ND.
THAT IS LITERALLY UNBELIEVABLE.
I DON'T BELIEVE IT.
LET ME EXPAND WHAT I BELIEVE AND DON'T BELIEVE.
THE PHENOMENON IS OBVIOUSLY REAL BECAUSE OF THE PEOPLE THAT ARE
SKIPPING MEALS AND BECAUSE THEY CAN'T AFFORD THE THIRD MEAL
AND THAT TRACKS OVER THE SAME PERIOD OF TIME AND IT IS
AFFECTING A GREAT NUMBER OF PEOPLE AND THE ECONOMY IS
IN RUINS TO ALL THE SUPER REAL.
3/4 OF RESPONDERS LOSING ON AVERAGE 19 POUNDS IN JUST
ONE YEAR, THEY HAVE TO DOUBLE CHECK THE NUMBERS ON THAT.
IF IT IS TRUE, IF THEY DOUBLE CHECK IT AND AN INDEPENDENT
SOURCE DOESN'T IT IS TRUE, IT IS STUNNING.
19 POUNDS ON AVERAGE?
IN ONE YEAR FOR THREE QUARTERS OF RESPONDENTS IN VENEZUELA.
I HAVE NEVER SEEN IN A COMMON ECONOMY THAT DEVASTATED AND
A SENIOR YEAR SINGLE YEAR OF ITS TRUE.
LET'S TALK ABOUT METHODOLOGY LITTLE BIT.
THE SURVEY
SO IT'S BASED ON SELF REPORTING.
PEOPLE IN VENEZUELA RIGHT NOW ARE ANGRY AND HUNGRY AND
ECONOMIC SITUATION IS DEVASTATING.
COULD SOME OF THEM BE EXAGGERATING THEIR WEIGHT
LOSS BY RESPONDING TO THE SURVEY?
ABSOLUTELY.
BUT THE ECONOMIC SITUATION THERE IS A COMPLETE AND UTTER
DISASTER FOR VARIOUS REASONS BUT THE BIGGEST REASON IS THAT THEY
ARE SOLELY DEPENDENT ON THEIR OIL AND THEN AS SOON AS THE OIL
PRICES DROPPED AND THAT STARTED BACK IN 2014 THEY WERE SCREWED.
THEY WERE HEAVILY RELIANT AND CONTINUE TO BE ON IMPORTS.
THEY DON'T PRODUCE ANYTHING IN A COUNTRY OTHER THAN OIL SO
THEY'RE IMPORTING EVERYTHING, INFLATION HAS GONE THROUGH
THE ROOF.
COUNTRIES LIKE SAUDI ARABIA FOR INSTANCE OF COURSE ARE NUMBER
ONE MARKET PRODUCT IS OIL AS WELL BUT SAUDI ARABIA
PLANNED AHEAD.
THEY DIDN'T SPEND AS MUCH MONEY AS VENEZUELA DID.
THEY SPENT ALL OF THEIR MONEY ON A LOT OF SOCIAL PROGRAMS.
BUT HOLD ON, THERE'S LITTLE BIT OF PROPAGANDA AND THEIR 2.
LET ME EXPLAIN.
I AM NOT DEFENDING HUGO CHAVEZ AND DORA IN VENEZUELA,
ESPECIALLY MEDORA DIVING THE ECONOMY IS A MESS NATIONAL
PLAN BETTER, ETC.
BUT, THEY DO A LETTER PROPAGANDA A LIT AGAINST VENEZUELA BECAUSE
THEY ARE SOCIALIST US KNOW, SOCIALISM IS THE WAY TO GOÖ
MONEY ON YOUR OWN CITIZENS.
WHEN YOU DO SPEND MONEY IN YOUR OWN CITIZEN JUST OUT TO BE
CAREFUL AND FIGURE OUT A GOOD LONG-TERM STRATEGY BUT SAUDI
ARABIA HAS A LOT LESS PEOPLE THAN VENEZUELA DOES SO YEAH,
THEY DIDN'T OVERSPEND PARTLY BECAUSE THE ROYALTY KEEPS
MOST OF THE MONEY.
BY THE WAY, LET ME BE CLEAR ABOUT SOMETHING THAT I'M
BRINGING SAUDI ARABIA BECAUSE SOME PEOPLE MIGHT BRING UP
THAT COUNTRY AND BE LIKE IF SAUDI ARABIA RELIES HEAVILY
ON OIL THEN HOW COME WHEN OIL PRICES WENT DOWN, SAUDI
ARABIA'S ECONOMY DIDN'T SUFFER AS MUCH.
THAT'S ONLY REASON I BROUGHT IT UP.
I'M NOT SAYING SAUDI ARABIA HAS A GOOD WAY OF GOVERNING FOR
A GOOD ECONOMIC SITUATION IS VERY GOOD FOR EVERYONE.
I'M JUST ENGLISH THE TWO DIFFERENCE.
UNDERSTAND THE BULLETS CONTINUE TO TALK WITH THE
LARGER ISSUES HERE.
I HAVE ALMOST NEVER SEEN AN ARTICLE ABOUT VENEZUELA IN
THE WEST THEY DIDN'T TALK ABOUT HOW SOCIALISM DOESN'T WORK.
THE PROBLEM IS SOCIALISM.
BUT NO, THAT IS NOT THE REAL ISSUE.
THE REAL ISSUE IS COUNTRIES HAVE HUGE OIL RESERVES AND BY THE WAY
VENEZUELA HAS LARGEST IN THE WORLD NEVER BUILD EFFECTIVE
ECONOMIES.
DO YOU THINK THE GULF COUNTRIES WHETHER IT SAUDI ARABIA,
KUWAIT, DUBAI, YOU NAME IT?
THEY ARE ALL ABSOLUTELY PROPPED UP BY OIL MONEY.
EVEN RUSSIA, RUSSIA IS A DISASTER NOW BECAUSE THE
OIL PRICES HAVE GONE DOWN.
THAT'S PART OF THE REASON THEY'RE LASHING ON DOING
THE CHUM THING IN THE AUDI AUDIT.
OIL MAKES THEM RICH AND LAZY.
THEY GET OVERLY DEPENDENT ON OIL BECAUSE IT IS SO EASY.
YOU JUST WROTE, YOU GET THE MONEY AND THEN YOU SPEND
AND A LOT OF TIMES YOU OVERSPEND IT.
THE PROBLEM IS SOCIALISMÖ IN THE GULF AND ALL.
THE UNDERLYING PROBLEM IS COOKING YOUR ECONOMY UP TO OIL.
I KNOW.
I'M NOT SAYING THAT IT'S OH MY GOD, THE ECONOMY SUCKS ONLY
BECAUSE THE FACT THAT THEY SPENT THE MONEY ON THEIR OWN CITIZENS.
NO, IT'S A THREE-PRONGED ISSUE.
IT'S OVERRELIANCE ON OIL.
THEY PUT ALL OF THEIR EGGS IN THAT BASKET.
THE OVERRELIANCE ON IMPORTS AND NOT PRODUCING ANYTHING IN
THEIR OWN COUNTRY AND THEN ALSO THE FACT THAT THEY WEREN'T
AS RESPONSIBLE AND THEY DIDN'T PLAN AHEAD WITH THEIR MONEY.
I'M NOT SAYING DON'T SPEND THAT MONEY AND SOCIAL PROGRAM
STAFF COURSE I LOVE SOCIAL PROGRAMS.
I THINK IT IS IMPORTANT ESPECIALLY WHEN IT COMES TO
WEALTH AND INCOME EQUALITY BUT I AM JUST SAYING THAT THERE
ARE VARIOUS ISSUES HERE AT PLAY THAT LED TO RAPID INFLATION
AND LETS ALL OF THESE PEOPLE BEING HUNGRY.
I AGREE WITH THAT DRIVES ME CRAZY THAT THEY BUNGLE IT SO
THOROUGHLY AND PART OF THE REASON THEY DO IS BECAUSE WHEN
THEY ARE HIGH ON OIL THEY THINK THAT'S OKAY, NOTHING IS
GOING TO GO WRONG.
WE DON'T NEED TO WORRY ABOUT THE FUTURE AND WE DON'T NEED TO
BUILD OTHER INDUSTRY.
LOOK, LET ME REGION THE LAST GRAPHIC CARE.
THE INTERNATIONAL MONETARY FUND ESTIMATES OF THE COUNTRY'S
INFLATION IS EXPECTED TO RISE 1660% THIS YEAR AND 2880%
NEXT YEAR.
JESUS CHRIST.
YES, THE GOVERNMENT VENEZUELA HAS ABSOLUTELY MADE A MESS
OF IT AND THERE IS CORRUPTION.
AT THE SAME TIME, YOU TAKE OIL AWAY FROM THE SCHOOL
COUNTRIES AND THEY WILL DISAPPEAR INTO THE DESERT.
THEY HAVE NO OTHER INDUSTRY.
IT'S JUST THAT THERE ARE VERY FEW PEOPLE WHO LIVE THERE AND
THE ROYALTY EVEN WHEN OIL PRICES GO DOWN ARE STILL BILLIONAIRES.
THERE'S THE APPEARANCE OF EVERYTHING IS FINE.
THEY WERE NOT OF OIL RESERVES OR GAS RESERVES IN THOSE
COUNTRIES THEY ARE GOING TO BE INTO THE WIND MAN THERE'S
GOING TO BE NOTHING LEFT IN THOSE COUNTRIES.
THEY HAVE NO OTHER INDUSTRY.
WHY?
SAME PROBLEM AS VENEZUELA.
THEY HAD THE CRACK PIPE, THEY HAD THE HEROINE TOO HARD.
THERE HOOKED ON IT THAT WANT TO TAKE IT OUT THERE IS
NOTHING LEFT.

Economic Crisis Forces Country To Starve

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