Sunday, January 17, 2016

Venezuela in crisis: Oil nation put into 60 day state of economic emergency

Last week we focused on Canada, and the economic crises that has exploded across that country due to low oil prices, and massive debts created in the building of a housing bubble.  And with markets crashing all across the world over the first 17 days of 2016, the situation in another oil producing country is also dissolving into economic crisis.
On Jan. 15, Venezuelan President Nicolas Maduro declared a 60 day state of economic emergency for the South American nation in what appears on the surface to be an escalation of capital controls that have already destroyed their economy for almost a decade.


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