Article

2016-02-27 Caribbean-Latin America

Venezuela reserves hit 17-year low after debt payment

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Posted by Steve White 2016-02-27 00:00|| || Front Page|| [2 views ] Top

#1 Keep in mind they've probably got a lot more debt-off-the-books, and a lot of their production is pre-sold to China at prices that are lower than today's market prices... even when they were sold a couple years ago.

Posted by Thing From Snowy Mountain 2016-02-27 12:35|| 2016-02-27 12:35|| Front Page Top

#2 Excellent point -- they aren't even getting $30 a barrel. And of course they have debt off the books -- they're socialists.

Posted by Steve White 2016-02-27 12:47|| 2016-02-27 12:47|| Front Page Top

#3 Happens when the Magic Money Tree(tm) dies. See - Ant and Grasshopper, Aesop circa 500 BC

[But we're so smart, urban, and modern. Those are just children tales. No, sunshine, they're observations of basic human behavior that haven't changed in two and a half millenniums.]

Posted by Procopius2k 2016-02-27 13:06|| 2016-02-27 13:06|| Front Page Top

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