Venezuela’s inflation will skyrocket to 1 million percent by the end of the year

Following years of a socialist regime, the ideology of socialism has finally caught up to Venezuela at a frantic speed. Venezuela’s inflation is expected to skyrocket to 1,000,000% by the end of the year thanks to the non-stop government printing.

Hyperinflation is nothing new as it was on full display in Germany in 1923 and in Zimbabwe in the late 2000s. Unfortunately, most politicians tend not to study history and try to kick the can down the road to future administrations through reckless spending.

Venezuela’s economy is expected to shrink 18 percent in 2018 which is the third consecutive year of a double-digit contraction as the country’s oil production continues to fall significantly.

The country’s economic collapse really kick-started when oil prices fell off the cliff nearly 4 years ago. Hundreds of thousands of Venezuelans have fled the country due to its ongoing hyperinflation. Hopefully, this serves as another reminder that free handouts will eventually catch up with you. 

One thought on “Venezuela’s inflation will skyrocket to 1 million percent by the end of the year

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    amoroso says:

    This little article contains false information and gives a childish, ridiculous representation of reality. The reasons for the inflation in Venezuela is not the trivial “government printing money no-stop”. The US mainstream media love to simplify and throw shit against the Venezuelan government for obvious reasons: socialist government in the largest oil reserve on the planet that Exxon wants back.

    Actually Venezuela suffers from the opposite problem: there is not enough cash because it’s used by smugglers and criminals of all sorts. There are many articles about these problems, but most in Spanish. Cash is precious and it’s hard to get it from banks, which have strict limits. That’s why the government is pushing electronic payments as much as possible.

    A large economic reform is incoming (August 20th), that will include a new form of association between the Bolivar and the Petro cryptocurrency, to boost electronic payments and help control inflation.

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