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Anti-government protests return to Venezuela's streets

Anti-government protests return to Venezuela's streets | Venezuela | Scoop.it
Devina Chatterjee's insight:

The protests in Venezuela began in February. Since then, it has caused 41 deaths. Approximately 3,000 people marched in the capital of Venezuela gathering near a University. They were gathering for better education and were protesting about the food shortages in Venezuela. On Thursday, the supreme court rule said that these protestors have a right. The protesters are angry about the increased inflation in the economy. They see no hope for their home country. They’re also angry about the increased crime rate in the country and the corrupt law enforcement system in the country.

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Why The Sun May Not Start To Shine In Venezuela

Why The Sun May Not Start To Shine In Venezuela | Venezuela | Scoop.it
Venezuela's economy suffered in 2013 -- and 2014, the first full year under President Nicolás Maduro, does not look much better.
Devina Chatterjee's insight:

Following the death of Hugo Chavez, the population began to lose faith in the government

In 2014, Venezuela entered a recession and dealt with high inflation. Adding on, the Venezuelan dollar dropped 32% in value. It is predicted in 2014 that the economy will shrink once again and the inflation will continue to rise. This drastic drop in currency will cause American companies such as Ford Motor company to take a three hundred fifty million hit. Hyperinflation is one of the biggest challenges that the new president is facing.

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Venezuela: What's the crisis about?

Venezuela: What's the crisis about? | Venezuela | Scoop.it
Venezuelans have taken to the streets recently, leading to gruesome clashes between protesters and police. Their demands are varied, from economical to social.
Devina Chatterjee's insight:

The protests in Venezuela began on February 12th. When three people were killed, it started to get media attention. The Venezuelan governments blames its protesters and the protesters blame the government. These protesters are mainly students who have proper education and realize the dire state of their nation's economy. The opposition leader is Leopoldo Lopez. He was detained with terrorism and murder charges. He was targeted because of his organized protests. They accuse the United States of trying to destabilize the economy. President Obama was extremely unhappy about this and said that they should try to fix their own problems before blaming others.

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Ex-Ambassador Explains The Paradox That Led To Crisis In Venezuela

Ex-Ambassador Explains The Paradox That Led To Crisis In Venezuela | Venezuela | Scoop.it
Maduro's policies are destroying the Venezuelan economy.
Devina Chatterjee's insight:

The choices the Venezuelan government has made have greatly worsened the condition of an already had economic state.  The fact that a television is cheaper than a bag of simple groceries has greatly angered the public. The president of Venezuela, Maduro, has enacted a "Fair Price Law." This sets maximum profits on simple necessities. Maduro blames the current protests on the United States, saying that it is the United States "youth groups" which have caused these riots. This lead Maduro to throw out eight U.S. diplomats. 

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Venezuela announces new oil finds

Venezuela announces new oil finds | Venezuela | Scoop.it
State-owned Venezuelan oil giant Petroleos de Venezuela SA said Thursday it has made new oil finds in three different areas of the Andean nation.
Devina Chatterjee's insight:

"Venezuela has 297.5 billion barrels of proven oil reserves, more than any other country." This shows that Venezuela has the power to become the world player in the oil economy. Currently, there is only one company (Chevron) taking oil from that region. This could reduce the prices of the oil in the United States because of the increase of the supply in oil. This increases the economic prosperity of Venezuela because they would get more money from the increased amount of exports. 

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Why Only Half of Venezuelans Are in the Streets

Why Only Half of Venezuelans Are in the Streets | Venezuela | Scoop.it
As protests tear through Venezuela’s tonier neighborhoods, the slums are mostly quiet. Middle- and upper-class Venezuelans are burning tires and building barricades, while millions of their poorer ...
Devina Chatterjee's insight:

Every since the death of the former President, the number of Venezuelans under the poverty line has increased almost 10%. Also, the GDP per capita in Venezuela decreased (people got poorer). These conditions caused protests. However, only fifty percent of Venezuelans are protesting.The Venezuelans that are protesting and mostly in the middle and upper class. While the lower class doesn’t protest as much because they believe the new president has improved the condition of Venezuela. However, their views may be inaccurate because the president’s media may be biased and is giving inaccurate information to the people and they may be undereducated. After Chavez took office, the price of the Venezuelan oil basket increased dramatically about $20-$80.

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Venezuelan Workers Demand Nationalisation of Automotive Industry | venezuelanalysis.com

Venezuelan Workers Demand Nationalisation of Automotive Industry | venezuelanalysis.com | Venezuela | Scoop.it
Devina Chatterjee's insight:

Venezuelan workers who work in the automotive industry are mad at multinational car manufactures who have started to cut back on the car production industry. This has caused multiple workers to be laid off. Workers are holding protests to get their jobs back and salary increases. The Union organizer claims that "Toyota has 'violated contractual benefits because of a lack of [foreign] currency'. " The factories are closing, and with protests dealing with shortages, the total economic condition of the nation of Venezuela is plummeting down rapidly at an alarmingly rapid place. 

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Venezuela's economic challenges

Venezuela's economic challenges | Venezuela | Scoop.it
The BBC's Irene Caselli reports from Caracas on the economic challenges facing Venezuela.
Devina Chatterjee's insight:

The government continues to elections and has a running total of eighteen. However, inflation is insanely high in Venezuela. A good that should usually cost $3.50, costs a shocking $10.00 in Venezuela. In fact, Venezuela is notorious for having high prices goods. The exchange rate is fixed in Venezuela which causes the prices in Venezuela to go up. The exchange rate is 6.3 Venezuelan dollars to 1 United States dollar. However, the Venezuelan black market is six times higher than that. They calculate their cost of living based on the black market exchange rate.

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Inflation, Shortages And Economic Turmoil: Venezuela On The Brink

Inflation, Shortages And Economic Turmoil: Venezuela On The Brink | Venezuela | Scoop.it
Venezuela has in fact been fueling the fire of economic disaster for quite some time.
Devina Chatterjee's insight:

Venezuela is currently dealing with many different shortages including toilet paper shortages, food shortages, and electricity blackouts. People are having to wait in line to something as simple as toilet paper which has angered Venezuelans, caused riots, and lead to deaths. Venezuela's government tried to lower the prices of commodities, but that only made the situation worse. Currently, inflation went up to 1000%- which pushed Venezuela into the final stages of economic collapse..  Venezuela has a command economy, meaning the government has complete control over trading, prices of products, etc. 

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What's behind Venezuela's economic woes?

What's behind Venezuela's economic woes? | Venezuela | Scoop.it
The BBC's Irene Caselli in Caracas looks at the main problems besetting the Venezuelan economy.
Devina Chatterjee's insight:

People are angry that Venezuela's economy can't always provide them with a proper supply of necessities. This caused riots in the streets  and has made it even harder for people to find basic necessities. The shortages have caused the creation of a black market. Oddly enough, the black market takes place in dollars, because the US dollar is more stable. The government has tried to reduce the prices of technological products. However, these measures haven't worked because these just caused shortages in electronic stores. 

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