According to Bloomberg, a cup of coffee cost 450 bolivars in Venezuela less than two years ago. Now, as the nation’s hyperinflation continues to skyrocket, a cafe con leche costs 1 million bolivars — or a mere 29 U.S. cents. Questions: 1. What is the most common note in circulation in Venezuela? 2. Venezuela has… Read more »
Posts Tagged: economic crisis
Venezuela’s Continuing Currency Crisis is Pushing the Country to the Brink of Collapse
As oil prices drop and hyperinflation encroaches, there have been wide-reaching consequences for the entire population of this country. Questions: 1. What are some of the limitations that citizens must live with? 2. In December, the Venezuelan president announced the withdrawal of the country’s largest banknote from circulation? Why did the government make this move?… Read more »
Plan Ahead
According to the Washington Post, five of the country’s largest banks, including JPMorgan Chase and Bank of America, still do not have credible plans for winding down their operations without taxpayer help if they start to fail. Questions: 1.How long do these banks have to submit their detailed bankruptcy plans to requlators? 2. What are… Read more »
An Expose on Financial Mismanagement – Casino Money Monte?
In this extended article, the Washington Post looks at “opportunity gamed away” in Tunica County, Mississippi. The article highlights the sad fact that “somebody born today in Mississippi, Alabama, Louisiana, Georgia or South Carolina is far more likely than someone born elsewhere in the United States to attend a poorer school, drop out before high… Read more »