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A comment on Venezuelan Hyperinflation Explodes, Soaring Over 440,000 Percent. Parent comment

Re:Venezuelan Hyperinflation Explodes, Soaring Over 440,000 ... by dragontamer on Thursday January 18, 2018 @12:13PM (#16178836)
Venezuela is so poorly managed they were losing money at $150/barrel of crude oil.

Last year, oil has been $30 to $50 per barrel. `nuff said. Its an issue of poor governance. Venezuela was heavily dependent on high-priced oil to keep their finances together, and it all collapsed as oil prices dropped.

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Re:Venezuelan Hyperinflation Explodes, Soaring Over 440,000 ... by kaycebasques on Thursday January 18, 2018 @01:47PM (#16180038)
What were they spending their money on?
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Re:Venezuelan Hyperinflation Explodes, Soaring Over 440,000 ... by dragontamer on Thursday January 18, 2018 @06:22PM (#16182575)
Unfortunately, I don't know. I'm an outsider from the USA. So I don't want to get much deeper into the details and pretend I know a lot about Venezuela.

But clearly, they're doing something wrong down there. They are a very oil-rich and resource-rich nation. So they should have the money to do this correctly, even as Oil Prices have dropped.

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