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Reply #16: Economy worse in Venezuela [View All]

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sandnsea Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-02-04 04:31 PM
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16. Economy worse in Venezuela
1998 31.3% below poverty, 2002 47% below poverty

1998 Inflation 29.9%, 2002 31.2%

1998 GDP growth -0.9%, 2002 -8.9%

1998 purchasing power $8500, 2002 $5500

The only thing that's improved is unemployment, which has gone from 17% to 11%; but that's not particularly helpful if you aren't earning enough to buy anything. Which, frankly, is usually what happens when you convert completely to socialism.

Chavez has gone too far and it's no wonder there are people who are protesting his governance. He needs to listen. I can't understand anybody thinking any one political system has all the answers to governance.

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