Monday, May 16, 2016

May 16, 2016 Miscellany News Brief

1.) Barter activity explodes across Venezuela as failed socialist economic policies leave entire nation on verge of economic collapse: The bottom line is that Venezuela gets about 70 percent of its goods from abroad, however, the area’s fast-falling oil prices have prevented the government there from importing. As a result, the economy has shifted to a culture where a black market lifestyle is the norm, and people can expect items to cost upwards of three times their original price.

2.) Greeks switch to bartering because there’s not enough currency: Greeks are also turning to the...

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