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ellie davis

Charlemagne: Keep the fire burning | The Economist - 2 views

www.economist.com/21531032

Germany Euro European Union Angela Merkel

shared by ellie davis on 16 Oct 11 - No Cached
  • ellie davis on 16 Oct 11
     
    This article explains why Chancellor Angela Merkel is in no hurry to fix the Euro crisis.
  • ...1 more comment...
  • Nicholas Hirsch on 17 Oct 11
     
    I think it is interesting to see how Germany's economic history is affecting Angela Merkel's decisions. The war reparations and the hyperinflation that ensued has not been forgotten. Thus Merkel's cautious and careful response to the debt crisis and Greece's possible defaulting makes complete sense. She fears to take any rash action and instead calls for austerity and patience, as she believes that given the right steps, the economy will recover, slowly but safely.
  • Brandon Callender on 17 Oct 11
     
    This, in conjunction with the article I just posted, seems to support the view that the Chancellor is attempting to use her government's short term ability to fix this problem to gain leverage for a larger, more overarching change to the EU. Like Brady said, she's trying to instill patience and austerity instead of rushing.
  • Njeri Kamau-Devers on 19 Oct 11
     
    The chancellor of Germany, Angela Merkel seems to be making a good move. Sadly, people will hate her for it. I support her though, because I believe that encouraging hyperinflation might make people feel better temporarily; however, it will only give companies more money without giving them the time to learn from their mistakes and make better financial decisions. Later, Europe may suffer even greater issues with debt. Yet, not doing anything either seems wrong. I'm sure she could do something.
Matt Harband

Iranian Rial in Downward Spiral - 1 views

www.economist.com/21564607

Iran speculation hyperinflation inflation rial

shared by Matt Harband on 13 Oct 12 - No Cached
  • Matt Harband on 13 Oct 12
     
    The Iranian national currency, the rial has been in steady decline for months, and the only method that the government has used to combat the issue is to print more money-- not the best plan of action.
  • ...1 more comment...
  • Alexander Luckmann on 14 Oct 12
     
    Inflation at above 25% since January -- that's a ridiculous rate. As we saw in "Commanding Heights", economy and politics are closely tied together, and it will be fascinating to see to what extent the economy swings support toward Ahmadinejad's opposition. Could Iran be in a similar position as Russia was in the '80s, perhaps spending far too much on the military (nuclear bomb??) to manage the economy wisely?
  • Thomas Peterson on 15 Oct 12
     
    I agree with what Alexander said. I think it would be interesting to investigate whether or not the Obama administration has considered applying economic pressure to Iran in order to achieve diplomatic means. With Iran in such an unstable economic state (which I am surprised isn't covered more by American news media), why would the US government even consider using military force against Iran if the Ahmadinejad regime could be destabilized in another way. We'll see how Obama and Romney treat this issue in the foreign policy debate, as Obama could use an argument based on Iran's economic instability in going against Romney's position on using military force against Iran.
  • Kay Bradley on 15 Oct 12
     
    yes!
Kay Bradley

Terms from Commanding Heights - 1 views

Key Ideas from Commanding Heights Capitalism Socialism Communism Keynesian economics Reaganomics Hayek Collectivist consensus: UK post Churchill, Privatization Nationalization Globalization Trans...

Industrialized Democracies

started by Kay Bradley on 08 Oct 10 no follow-up yet
arjunk2022

Venezuela's New Lettuce-Based Economy Is Good Enough for Now - 0 views

www.nytimes.com/...llarization-maduro-guaido.html

Venezuela economy

shared by arjunk2022 on 29 Oct 21 - No Cached
  • arjunk2022 on 29 Oct 21
     
    This article talked about the benefit of dollarization in Venezuela. I never thought about how other currencies' integration could be an economic tool, but it makes a lot of sense how it could help in this case: "Venezuelans spontaneously began to adopt the dollar in 2019 as a way of fending off hyperinflation".
arjunk2022

With Venezuela's economy in crisis, cryptocurrency fills the gaps - 0 views

www.aljazeera.com/...-cryptocurrency-fills-the-gaps

Venezuela Cryptocurrency

shared by arjunk2022 on 02 Nov 21 - No Cached
  • arjunk2022 on 02 Nov 21
     
    Venezuela was hit hard by hyperinflation and US sanctions. With distrust in the government's currency and economic systems, cryptocurrency has become increasingly popular in the country: "In Venezuela, crypto is mainly used to hedge against inflation that causes bank deposits to sharply depreciate in weeks or even days"
arjunk2022

Bitcoin, ethereum rise as Venezuela launches digital currency - 0 views

news.yahoo.com/igital-currency-081104851.html

Venezuela Bitcoin

shared by arjunk2022 on 02 Nov 21 - No Cached
  • arjunk2022 on 02 Nov 21
     
    Venezuela has decided to launch a government cryptocurrency: "Venezuela had announced in August that it is revamping its national currency, the bolivar and launching its central bank digital currency (CBDC) - the digital bolivar - on 1 October". While it may not be something they keep forever, it seems like it could help in the short term as Venezuela suffers from hyperinflation.
Kay Bradley

The Political Economy of Venezuela and PDVSA - Georgetown Journal of International Affairs - 1 views

gjia.georgetown.edu/...economy-of-venezuela-and-pdvsa

Venezuela hyperinflation inflation Latin America petrostate petroleum economy international Less Developed World:

shared by Kay Bradley on 16 Nov 21 - No Cached
  • Under the direction of Luis Giusti in the 1994-1998 period, PDVSA’s production soared. This trend changed in 1999, when Hugo Chavez became Venezuela’s president and introduced Chavismo as the guiding economic doctrine.
  • Chavez responded by purging PDVSA of its professionals en masse, replacing them with “reliable” hands—those loyal to Chavez’s socialist regime.
  • This trend has left Venezuela’s output drastically lower than when Chavez took power in 1999.
  • ...6 more annotations...
  • with capital expenditures far below the value of equipment that is being consumed each year by depreciation and amortization.
  • On top of PDVSA’s reduced capital stock and its deteriorating quality, there has also been a drop in the stock and quality of its human capital.
  • It is important to note that PDVSA’s decreased output is not due to dwindling oil reserves,
  • Venezuela’s reserves—which are the world’s largest, at 9.26 billion barrels
  • At the end of 2018, Exxon’s depletion rate was 6.74 percent per year—a rate comparable to that realized by most major oil companies. That rate implies that it would take 9.9 years for Exxon’s oil reserves to be halfway depleted. That is 370.5 years earlier than when PDVSA would deplete half of its reserves
  • The country with the world’s largest oil reserves, Venezuela is plagued by a mismanaged, state-owned oil company in a death spiral—PDVSA.
petertimpane

Venezuelans Break Off Flakes of Gold to as Currency With Bolivars Worthless - Bloomberg - 0 views

www.bloomberg.com/...gold-to-pay-for-meals-haircuts

Markets hyperinflation Venezuela Currency

shared by petertimpane on 20 Oct 21 - No Cached
  • petertimpane on 20 Oct 21
     
    People in Venezuela have started using the gold standard again because their currency has collapsed to such an extent.
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