So for the last 2 years the Wall Street Journal has been predicting the total fucking COLLAPSE of the Venezuelan economy because they stubbornly refused devalue their currency. Well guess what? Over the weekend Venezuela finally bit the bullet and devalued the bolivar, so today the Wall Street Journal took their predictable victory lap by running this story about...OMG THE VENEZUELAN ECONOMY IS ABOUT TO COLLAPSE, because of this devaluation! PS none of this will ever happen.
Oh and BTW: "Older Venezuelans are accustomed to sharp losses in the value of their money, with numerous devaluations and currency regimes over the last three decades of economic turmoil. Inflation, the highest in the Americas, at 25 percent last year, reached 103 percent in 1996 after a previous president lifted exchange and price controls."
Comments (4)
So there's BB-, BB+, ...??
Posted by Utpal
|
January 12, 2010 9:20 PM
Posted on January 12, 2010 21:20
Did you get this?
"Venezuela Debt Rating Outlook Raised to Stable by S&P"
http://www.bloomberg.com/apps/news?pid=20601086&sid=atzVz7SMZNnU
It disappeared when I posted it here.
Posted by PeacePatriot
|
January 12, 2010 8:15 PM
Posted on January 12, 2010 20:15
"Venezuela Debt Rating Outlook Raised to Stable by S&P" 1/11/10
http://www.bloomberg.com/apps/news?pid=20601086&sid=atzVz7SMZNnU
Posted by PeacePatriot
|
January 12, 2010 8:13 PM
Posted on January 12, 2010 20:13
Yeah try this one:
http://www.ft.com/cms/s/0/90dcf1ac-fd1b-11de-8952-00144feab49a.html
It's pretty good.
And Otto I haven't checked yet but your ass better have at least 1000 words on the devaluation, and now.
Posted by Vincent
|
January 11, 2010 6:07 PM
Posted on January 11, 2010 18:07