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Venezuela's Inflation Rate is projected to hit 1600 to 3500 percent in the next year. (Source: IMF World Economic Outlook)
The shit has officially hit the fan people.

Was it inevitable? Will it happen to other countries?
I know the US debt just passed 20 trillion dollars. Soon will be spending more on interest payments on our debt then we do on our military.

Could the whole world go into super inflation at the same time; like a chain reaction?

Potentially, however it is considerably more likely to see something like countries just straight-up defaulting than having a ton of countries get involved with hyperinflation. Venezuela is a unique situation, and they are (basically) expected to collapse because of a government trying to manage a shitty economy.

Worst case, the USD is rejected by multiple world powers as the reserve currency, and is replaced and everything happens off of that.

Historically the US has always resorted to inflation to deal with debt it can't pay.
But a default would also lead to hyper inflation wouldn't' it?

You can't compare Venezuela and USA simply because they are not in the same political category. Venezuela might get into deep trouble because of the debt but not the USA. And in fact I don't think that USA will ever pay their debt back.
But there is possibility for the whole world to fall into deep global financial crysis. It wouldn't be the first time.

the debt of as always increases day today... seems like in the as are just get an exploitation of the debt. it's not first times for US are get this.

I think that there's much more to the story here than what appears at first glance.  I think oil prices, sanctions, political affiliations and economic alignments are more to blame here....I think that Venezuela's economic situation is a result of its protagonistic relationship with capitalist economies....

Predicted.. US greedy housing crisis caused it world wide.
Another bigger crash is predicted too.

And guess what is identical to the housing market derivatives drama ?
The entire Crypto scene.. virtually identical !

Do you really think the crypto scene is heading for an implosion?...It's almost like the dot com bubble isn't it?  But, on the otherhand, the dot com bubble made quite a few people very rich!  In my mind, Crypto mania is more similar to the Tulip Bubble of 1637 than the housing market derivative debacle.  ( https://en.wikipedia.org/wiki/Tulip_mania )  The economic problems facing countries like Venezuela and Russia might actually create a boon in the crypto markets however.

I do not know what countries are heavily trading  with Venezuela as it is alarming to their trade partners. But most countries has diversified their investment to different country a trading partner and a loss to another is probably a good to another partner. I hope they can handle their finances as it would result to poor services to their people and probably a degraded or poor situation to its inhabitants.

It seems to me that this is a local problem. And the economies of other countries from that not much affected. In any case, it has a positive effect on the price of Bitcoin

Yes, it's a local problem caused by Venezuelan government. Their government is responsible for the situation. Other countries in the region do not have the same type of government.

Cuba is similar, but they are slowly changing. The other countries do not have the same style of government. Their government was extremely socialist and put strong restrictions on companies or even claimed them.

Yes, this has happened before in ancient times. Everybody loses with super inflation, so they'll prolong it as long as possible. They're using QE for now, but QE does not solve the long term problem.

It's really sad to see what is happening with Venezuela now.
Why?
Venezuela is very reach with natural resources, specially oil and have all necessary foundation to become very reach country.
Unfortunately, they got communist fanatic, Chavez, for president.
Under his regime everything collapsed.
He tried to copy political and economic system from Cuba (Castro is his idol and political mentor) but this experiment failed in both countries.
Now, people in Venezuela starving and trying to survive, day by day.
It seems that current president of Venezuela, Manduro, is only interesting how to protect his position and stay in the office until the end of his current term.
He have no desire to allow any freedom or democracy in Venezuela or to help people there.

It is exactly like the what i said compare them..

Bundled mortgage packages traded for profits.
AKA: hollow worthless investments.
They are worthless because mortgages were given to people who could never pay them.

A boon ? You are high..

Greenspan was warned over & over for years and he said the stock markets would police itself and not let it collapse so he kept refusing to put in the advised regulations.

IT DID COLLAPSE and he was dead wrong !

And his way late response was quantitative easing and bail-out packages with FED chairman Bernanke..
Which they were warned would cause massive inflation.. it did.. a lot of stuff where i live have doubled in price.
We are raped GLOBALLY by mass inflation.. as predicted.

It's cute you all have opinions but you should get the correct one.. mine.

I said Regulations ? Hollow investments ? Money supply ?
Sound familiar Shitcoin enthusiasts ?

Hate to take a shit on your precocious optimism boys but..
The people who predicted it all 100% accurate that Greenspan etc admitted were right..
also said we are in for a bigger crash at some point.. obviously EXACTLY like Crypto (crash in 2014 then yrs later even worse)

WHY ?
Because the old recession was not fixed.. the quantitative easing stunt they pulled and bail outs did not FIX the glaring problem.

And by all means try and argue with me.. your wasting your time though.
I posted facts and opinion commonly held by the world financial geniuses.
Pretty simple boys, fuck shit up.. then suffer the consequences.

8 years of Obama rule has seen the American federal debt increasing more than 100%. The US will have to pay back its debt, else it won't be able to sell new debt. A lot of countries are in trouble now, as the debt is increasing day by day. This can trigger a new financial crisis. But there are promising signs as well. For example, despite the crude oil crash, the markets have held together.

It is possible for sure,we may be facing another crisis really soon and better be prepared for it so we can adjust out behaviour,things are showing we are little by little going in that direction and it will be no big surprise if it happens,at least for those who are looking at the current situation.
How the response will be is the big question.

Venezuela collapse in photos:

http://www.aljazeera.com/indepth/inpictures/2016/10/face-hunger-malnutrition-venezuela-161007055723064.html

http://www.aljazeera.com/indepth/inpictures/2016/07/venezuelans-reopens-colombia-border-shoppers-160719084259872.html

http://www.aljazeera.com/news/2016/07/venezuelan-army-takes-food-distribution-services-160713041510705.html

People still look fat to me.

They need to learn to use soap and their hand instead of toilet paper. It is much cleaner. Toilet paper leaves fecal residue on your anus.

What if they can't afford to purchase soap?

Venezuelans thought that the high oil prices will last for ever. So they never cared to create a rainy day fund. Look at the other oil producing nations such as Russia and Saudi Arabia. They are not in this much bad shape, as they saved a part of their oil revenue in the past. No sympathies here. Venezuelans must blame themselves, and their leaders.

Mud works great (you'd want to probably have salt water and a dry dirt to start with to avoid parasites). I have done it. I think papaya + coconut works even better. I have lived in total squalor. I am not wishing for them to suffer, I am just saying that most of them look like they need to lose 15 kilos. I expected to see people really suffering, not fat, as I did for example dropping to 50 kilos body weight at one point in 1996 (before I returned to the USA to take a contract job). They are not yet in serious trouble. May be headed that direction. When they really can't eat, they will finally overthrow the military government. There will be war as necessary. Unless some outside influence is holding up the government. I haven't really studied it. Is Fidel in Cuba aiding and abetting the corruption?

Also these are to a large extent mixed races with native blood. They can survive in the wild if they really want to. They are only 2 or 3 generations removed from living off the land. But they want the modern and easy life, and to sit around and eat always (and dance and drink alcohol ... I visited Colombia in 2001 so I know). Look at those females, easily 10 - 15 kilos over weight.


And they've become incredibly socialist, ideologically corrupt. Most of South America is also ideologically corrupted. So that is why Latin America will not do as well as Asia. Ditto Europe which is ideologically brain dead.

I am not wanting people to suffer. But also I am saying that people fuck themselves over by getting fat like pigs for the slaughter with free handouts from socialistic ideology. It is a shame that humans are so much similar to farm animals. You'd think they would learn but never do. Always the same.


Edit: I am not against myself surviving off the land, it would just be a shame because I think I produce more if I am connected to high technology. Also I don't think my body can tolerate another Dengue infection (as I read the 2nd reinfection likely leads to serious chronic health problems in many cases). I don't think I am sturdy enough to do it here in the tropics. Maybe in a temperate climate I can do it.

P.S. Of course I felt empathy for the guy who looks like a skeleton. But I think that the media is sensationalizing that to play on our emotions. Surely his country men can give him some food, even if a banana or camote or casaba. I bet he has a medical problem which is causing him to become like that. Maybe some of those fat women can give him some of their fried pork and they can eat the bananas and go on a diet. But of course many people aren't caring to the point of personal sacrifice.

I will acknowledge that if you are sickly and can't eat nutritious foods, your chances of recovery are much reduced.

Put it this way, I really feel a lot of empathy for people are genuinely suffering in pain or horrible health problem. But I don't feel empathy for people complaining because they bought into a fat socialist pig ideology and now are complaining because they won't have toilet paper.

It is like George Carlin's joke, that these people in Hawaii build their houses next to an active volcano and then wonder why they have lava in the living room. Go figure.

I understand we get caught in circumstances. So if they truly get the point that they can't eat, then yes of course I would be proactive (if I could), not just empathetic.

Let explode all the regimes that Rob their citizens ! After all, it's not just Venezuela and Russia, too. Certainly blame the people themselves of these countries.

Interesting what a difference a man in America, what is happening in Venezuela? They themselves are full of problems. Why else would other countries intervene?

Russia is doing quite well, despite all the sanctions and embargoes. Actually, the unemployment has decreased and the agricultural production has risen quite steeply. Russia is now the largest exporter of wheat, displacing the US and the EU. On the other hand, Venezuela is now broke. They used to import everything with their petrodollars. Now the petrodollars are gone, and they can't import anything.

Why Arab Emirates traded oil and residents live well, and Venezuela and Russia traded oil and people live poorly? I think it's not the price of oil. In the case of corruption.

Venezuela is a Communist country. Proven by history that communism is a flawed doctrine and all countries professing communism is doomed to failure.

Hugo Chavez has destroyed the country and now without the support of Western countries they will not survive. Whoever became President of Venezuela.