218 monthly minimum wages to buy basic food basket in Venezuela

[GatoGordo]

218 minimum wages are needed to cover the Basic Basket of June

In 654,214,674.03 bolivars, the Basic Family Basket was placed in June, according to the measurement of the Documentation and Social Analysis Center of the Venezuelan Federation of Teachers (Cendas-Fvm), which would require 218 current minimum wages to cover it

According to the measurement, the price of the basket increased 353,076,320.90 from the month of May, that is, 117.2% in one month. While the annualized variation between June 2017 and June 2018 is 37,538.6%.



This escalation is compared to the inflation meters, which calculate a similar month-on-month rise.

Cendas-Fvm reported that during June, all items went up in price. The protagonist of the rise, in this opportunity, was education, which rose by 656.9%.

On the other hand, another important record was presented with the dress and footwear, item that presented an increase of 442.9%.

In terms of food, a cost of 378,300,617.94 bolivares was averaged, a 71.8% increase compared to May.

-snip-

http://talcualdigital.com/index.php/2018/07/24/218-salarios-minimos-son-necesarios-para-cubrir-la-canasta-basica-de-junio/

[qazplm135]

1. The ability of humans

to tolerate the intolerable is simultaneous extremely sad and slightly impressive.

Between these folks and N. Koreans, their misery tolerance is through the rough.

[Fred Sanders]

2. The picture at the link has a shelf full of food...funny how that empty shelf photo snuck in there.

Lots of dairy and juice in the part in the back not due for restocking I could...imagine.

[GatoGordo]

4. More propaganda Fred?

Been to Venezuela of late?

[sandensea]

3. Maduro would do himself, and above all Venezuela, a favor by resigning.

Whether this collapse is the result of lower oil prices, domestic and/or foreign interference, or Maduro's ham-handed approach (in all likelihood a combination of all of the above), the situation has become utterly hopeless for his regime.

And most importantly, for Venezuela.

I don't post much on this subject, as frankly I'm only vaguely familiar. But as I mentioned on the Venezuela election thread in May, I myself hoped the progressive Henri Falcón would (or could) win, given the circumstances.

Whatever else may be going on, this is the kind of predicament only an outright resignation (for starters) can fix.

You know, the late President Raúl Alfonsín of Argentina - a country I am familiar with - faced a similar, though more sudden, crisis back in June 1989.

The bottom fell out of the currency, inflation soared to over 100% a month (it had been 10% a month just four months earlier), and food riots had erupted in numerous poor neighborhoods - unheard of in Argentina up to then.

While Alfonsín had reason to believe the sudden currency crisis had been deliberately provoked by Bush and Buenos Aires banks (plus the debt crisis he inherited and his own missteps, certainly), and as much as it pained him he knew his time was up.

"No one," he announced on national tv on June 30, "has a right to expect endless sacrifice from his own people."

Or in Kenny Rogers' words, he knew when to fold'em - a tune Maduro would do well to learn.

[GatoGordo]

5. Maduro resigning would do little, but...

It would start momentum.

Maduro is just the puppet. The puppeteers would remain, and next on line is either Delcy or Diosdado. They aren't any more eager to embrace a democratized economy than Maduro.

The cash cow is in complete collapse. PdVSA cannot unbury 19 years of neglect. There is NO WAY that either China nor Russia will invest the $trillions to salvage what might be unrecoverable, no matter how much they would love to stick it to the US.

The only way out is the end of Bolivarian Socialism. PdVSA might just disappear as foreign capital is about the only way out. Nobody else had the knowledge nor the deep pockets to pull it off.

[sandensea]

6. Agreed. They're now out of any viable options for anything past the very near term.

They're in a real quandary, because of the missteps you've outlined here and in other posts, and because they didn't seize the oppotunity in May to allow Falcón to succeed them.

My guess is that most PSUV figures fear that if they, say, call snap elections later this year, keep them fair, and then step aside, they'll be persecuted and/or killed.

What they should understand, is that if things deteriorate to the point that a coup becomes inevitable, their chances of living through this will be even lower: slim to none, I'd say.

What's worse: Many others would probably die in the ensuing violence as well. To say nothing of the ongoing hardship their people are going through irrespective of these scenarios.

For their sake, I hope someone can find an equitable - and practicable - political solution here. What a challenge.

Thanks again for your insights, Gato Gordo. All the Best to Venezuela.

[GatoGordo]

7. Sadly, I see violence no matter what. And it is frightening.

Venezuelans still love Chavez. But, the guy died (cancer) a martyr. Love him or hate him, the guy had charisma, and the people loved to listen to him. Things were going downhill, but at least there was still food and clothes to be bought. El Pueblo blames all of the current disaster on Chavez successors, when in reality, Chavez set the stage himself. When the PdVSA went on strike in 2002 and he fired 18,000 engineers and skilled labor and replaced them with party loyalists... and not a Bolivar went back into new exploration or maintenance.

Fast forward to today, and you would still find about 70% of the people who love Chavez and would identify with Chavismo... but hate what Chavismo has brought to Venezuela. Many think a change of leadership, but that is just exchanging the captain of the sinking Titanic with another one. Sadly, the ship is about to sink below the waves and NOTHING can be done to save it.

Chavez hooked his wagon to Cuba after the coup attempt in 2002. He fired most of his generals and replaced them with party loyalists, trained and watched closely by the G2 from Cuba, which has had 15 years to infiltrate all levels of Venezuelan government and the military. Nobody knows who is who any more. Which is why I think that it is all going to culminate in violence. And in the end, Cuba can just walk away from it all and shrug while people are getting slaughtered. Very likely, a military junta run by Cubans (Vlad Padrino), with all sorts of largess continuing to go in that direction. And, things will get worse, because Uncle Sam hates the Castroists and off we go on another "Contra" crusade bullshit.

This is going to leave a power vacuum and who the Hell knows what will happen. The opposition is completely fragmented, though if you look at the party platforms of the MUD coalition, they are without fail mostly center left/left... though not as left as PSUV and the PCV (communists) and PPT (fatherland for all). So there is hope there.