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Inflation crisis brewing in the Philippines

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On 9/16/2018 at 10:47 PM, Dave Hounddriver said:

Allowing for some exaggeration in the anecdotal evidence, the cost has gone up equal and opposite to the currency going down.  Seems that is what happens when you import so much.  The problem I see is that the prices never seem to go back down when the currency improves its value.

Some dead economist once said that inflation is always and everywhere a monetary phenomenon.

And fiat currencies seldom, if ever, strengthen in absolute terms. Only relative to other currencies.

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20 hours ago, JJReyes said:

Be more positive! You don't live in Venezuela where the inflation rate is over 1,000,000%. You withdraw a suitcase full of cash from the bank to buy a loaf of bread. By the time you get to the bakery, the price has already increased.

Plus they've imposed a raise in the minimum wage. 40% of businesses in 'zuela have now closed their doors because they can't pay their workers...that and a brain drain in the country as millions flee. Socialism works!

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On 9/18/2018 at 10:28 AM, Reboot said:

Plus they've imposed a raise in the minimum wage. 40% of businesses in 'zuela have now closed their doors because they can't pay their workers...that and a brain drain in the country as millions flee. Socialism works!

Maduro is teetering. Guaido is the legal President under the Constitution. There might be a light at the end of the tunnel. FINALLY. Arriba Venezuela!

 

 

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On 9/18/2018 at 8:28 AM, Reboot said:

Plus they've imposed a raise in the minimum wage. 40% of businesses in 'zuela have now closed their doors because they can't pay their workers...that and a brain drain in the country as millions flee. Socialism works!

Venezuela isn't Socialism. It's a Communistic kleptocracy. Communism for the masses and unlimited thievery by the ruling elite. Democratic Socialism works quite well in Europe.

Edited by Guy F.
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22 minutes ago, Guy F. said:

Venezuela isn't Socialism. It's a Communistic kleptocracy. Communism for the masses and unlimited thievery by the ruling elite. Democratic Socialism works quite well in Europe.

Norway is about the only European country you could describe as even close to Socialist and any economic system works when you've literally got oil pouring out your ass lol.

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Interesting information but off topic. Could you please start a new topic for this? IMO a great topic on its own right.

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On 1/28/2019 at 7:50 AM, Old55 said:

Interesting information but off topic. Could you please start a new topic for this? IMO a great topic on its own right.

It might be too political. I asked JGF about it but haven't seen a reply yet.

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