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Venezuelan real salary has fallen 89.9% by March

Tuesday, May 2, 2017

How Venezuela’s supreme court triggered one of the biggest political crises in the country’s history

The high court’s transformation into an arm of the Maduro government comes at a terrible time for the oil-rich country, which is already mired in a deep economic crisis marked by widespread food shortages and inflation projected to rise by more than 700 percent this year. Maduro has reacted by attacking opponents at home and abroad. He’s derided the anti-government protesters “as vandals and terrorists” and ramped up his rhetoric against the US, which he regularly says is a decaying empire and a sponsor of terrorism. On Thursday, the Maduro government seized the assembly plant of General Motors in Venezuela, leading the American giant to pull out of the country.More…

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