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Response to Judi Lynn (Original post)

Wed Nov 20, 2019, 02:07 PM

2. Sorry, Venezuela haters: this economy is not the Greece of Latin America by Mark Weisbrot

"Of course Venezuela is facing serious economic problems. But they are not the kind suffered by Greece or Spain, trapped in an arrangement in which macroeconomic policy is determined by people who have objectives that conflict with the country's economic recovery."
https://www.theguardian.com/commentisfree/2013/nov/07/venezuela-not-greece-latin-america-oil-poverty

Whatever happened in Bolivia the world's worst economist and, still to this day, a chavista can't be be believed


Will Venezuela's new floating exchange exchange rate curb inflation?

https://venezuelanalysis.com/video/10581 Go to 2:00 to see Mark's wrong answer.

Will the new exchange have an adverse impact on the poor? See Mark answer incorrectly 6:15

https://fortune.com/2016/02/20/venezuela-oil-bolivar/

Mark Weisbrot, chavista economist: "The fastest and best way to break this cycle is to allow the currency to float. Itís hard to say where it would settle, but it would likely be somewhere between 150 and 200 Bolivares Fuertes to the U.S. Dollar ó nowhere near the current black market rate."

The official exchange rate stood at 248,832 VEF/USD as of August 10, 2018, making it the least valued circulating currency in the world based on official exchange rates. https://en.wikipedia.org/wiki/Venezuelan_bol%C3%ADvar

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Judi Lynn Nov 20 OP
BigMin28 Nov 20 #1
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