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Hyperinflation Pushes Venezuela to Print 1,000,000-Bolivar Bills
Posted on 3/6/21 at 9:47 am
Posted on 3/6/21 at 9:47 am
Now that's some mature stimulus!
Hyperinflation Pushes Venezuela to Print 1,000,000-Bolivar Bills
LINK Nanny Bloomberg
Hyperinflation Pushes Venezuela to Print 1,000,000-Bolivar Bills
LINK Nanny Bloomberg
7
Posted on 3/6/21 at 9:49 am to Auburn1968
They should just raise the minimum wage.
Posted on 3/6/21 at 9:50 am to Auburn1968
Posted on 3/6/21 at 9:51 am to Auburn1968
Back in the late 80's or so a buddy of mine had a 100,000 bill from Turkey if I remember correctly and he said if he exchanged it here it was worth around 40 bucks. That's the direction we're heading if something doesn't change
Posted on 3/6/21 at 9:53 am to FredBear
quote:
The 1,000,000 note -- the largest in the nation’s history -- is worth only $0.53 cents.
Posted on 3/6/21 at 9:54 am to Auburn1968
Damn. That's like $3.50.
Posted on 3/6/21 at 10:00 am to Auburn1968
Everyone’s a millionaire now!
Poverty has been destroyed in Venezuela!
Poverty has been destroyed in Venezuela!
Posted on 3/6/21 at 10:17 am to Auburn1968
Merchandise is in such short supply that people there have developed a system of trade with their friends and relatives in normal countries like the US.
Let's say toilet paper and toothpaste are very scarce and expensive. Pablo will write his cousin in the US 'Send me 20 tubes of toothpaste in a small package.'
He will then barter the toothpaste (which is much easier to ship than 20 packs of toilet paper) for toilet paper hoarded by his neighbors.
Other tubes will be similarly bartered with other neighbors who are hoarding other scarce products.
It's a pain in the arse but that's what happens when an economy fails.
Let's say toilet paper and toothpaste are very scarce and expensive. Pablo will write his cousin in the US 'Send me 20 tubes of toothpaste in a small package.'
He will then barter the toothpaste (which is much easier to ship than 20 packs of toilet paper) for toilet paper hoarded by his neighbors.
Other tubes will be similarly bartered with other neighbors who are hoarding other scarce products.
It's a pain in the arse but that's what happens when an economy fails.
Posted on 3/6/21 at 10:17 am to Auburn1968
Rookie numbers. Let me know when they reach Zimbabwe levels with a $100 trillion bill, or have to make up a new number entirely.
Posted on 3/6/21 at 10:36 am to Stingray
quote:
They should just raise the minimum wage.
wait, that shite ain't funny
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