Topic: How is the economy of your country recently? - page 2. (Read 391 times)

I feel sad for my neighbors in the Venezuela. I have some friends there, everyone says it is terrible.
My country, Brazil, suffered few years ago from socialism too.. we are getting better, but elections are coming and socialists are very strong...


At least you are one of the few ones there that know cryptocurrencies.

Bitcoin was made to help people in this situation.

Also, this forum can help you if you use it the right way.
Study about crypto (very important to rank up), earn merits, rank up your account. You can get a few dozens of dollars per week in bounties, this is probably worth a lot of money there....

I had the bad luck of being born in Venezuela. Things are getting worse extremely fast to the point surviving it's a big challenge if you are not corrupt.

I believe that not only communism is to blame, but also to the people who allow it and support it inside a country. Nicaragua and Mexico are on their way to this situation in a matter of some years.

Dollar, decades ago was almost as the same price as Venezuelan currency, thanks to the big production of oil mainly. The situation have been degenerating incredibly fast. This year, the annual inflationary rate quadrupled in a matter of two months to 18,000%.
https://www.miamiherald.com/news/nation-world/world/americas/venezuela/article210282264.html

Right now, the inflationary rate is around 42,000% and rapidly growing everyday that passes by.
https://www.twitter.com/steve_hanke/status/1012790558924984322

Do you imagine going to the buy something right now and then you go in some hours and the price went up? It could happen right?. Not a bad thing - What about that happening everyday without exception?

Remember how i said that the Venezuelan currency used to be almost at the same price as the dollar? Right now $1 equals 3.000.000.000bs and going up everyday. The past president Chavez took three zeros out of the currency so the mental impact wasn't so bad, instead of solving the problem. They are planning to do that again soon. That is the real number.

More info here: https://www.malaymail.com/s/1636292/inflation-stricken-venezuela-postpones-currency-overhaul

And here: https://www.youtube.com/watch?reload=9&v=I9tH8DTqUZo

If you think things are bad in your country, look again. You might be missing a couple of things to be grateful for. It should be an example for all countries, to not be a rich country and at the same time the poorest country in the world.

EDIT: Now, instead of the second reconversion they were planning - They decided to take five zeroes out of the currency instead of only two. It will start on August 20th.
More info: https://www.ndtv.com/world-news/inflation-hit-venezuela-to-remove-five-zeroes-from-currency-1889867

The economy of our country is not totally degrading. However, the economy of our country does not doing great either. Foreign exchange between Peso and US dollars have a large gap and US dollars continuously gotting stronger than Peso. Foreign investors who invests in our country are not that abundant. In fact, major investors sometimes do back out due to the issues our country is facing today. Incomes from outside the vicinity of yhe Philippines are not that strong since import-export trades are weak. Lastly, our economy is getting drowsy and getting sick since we have foreign issues still needs to face until now such as our foreign debt that needs to be paid.

Economy here in our country is slowly going down. First evidence of it is our foreign exchange with US dollars go to the lowest value in the past decade. That low value added to how our economy works which is not good. Another thing is that everything in the market is increasing its price. The recent taxation set by government adds burden to everyone. Also the price of oil is going higher which affects the price of almost everything. It is visible that our economy is going down but I can also see how everyone strives hard to make it good and that's a good thing.

It seems like the gap between your earnings and cost of living is getting bigger and bigger each year. Inflation is not considered in the salary figures. There are online currencies coming which are backed up with land assets and thus can help to avoid inflation.

In Philippines, we don't know if our country will be in good place or in bad place.
  Our problem with Drugs, a huge problem of it, Poor people who or sometimes innocent are being killed because of accusation to them, Police think that they our drug dealer, but sometimes they're being set-up. Other one is the exchange of money, our money is too low to exchange in USD
1 USD = Php 53.46. That's a huge exchange rate and that is the reason why many people go to Philippines. I don't know what will happen to the future , Will it progress ? or bad thing will happen.
 

People from my country have been complaining about the economy as long as I remember. As for me, I do not think things are that bad where I live (there are a lot of countries where it is worse). But I hope that it will change for the best

In Brazil we are fuked up.

I made a nice report of ours truckers strike crisis few days ago, take a look here
https://bitcointalksearch.org/topic/m.39470325


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The economy of most developing and undeveloped countries is too bad that even  their citizens are on a serious struggle for survival, some are migrating from their country to other countries to look for greener pasture, though some are making it but greater percentage are losing their life. In my country the recent economy is too bad that people are complaining bitterly, despite their complaint nothing has been done to remedy this problem. People keeping suffering with hope of coming out it one day. How is your own country?