Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
@hank- Been following the Venezuela situation pretty closely in The Economist for quite a while. There may be a very few pockets of retail goods stashed in a few places available to those high in the government or who have major political influence or "gold, silver, gems, etc.", but not so for the average person under any circumstance, barter or otherwise. There just ain't no stuff there to buy for the average person. Virtually every Venezuelan industry or manufacturer using any material that needs to be imported or equipment that needs outside maintenance has been shut down long ago.
Venezuelans are deserting the country in droves, looking for work in other South American countries. Prior to this, they were going over the border to neighboring countries to shop for basic supplies and foodstuffs, but now that the Bolivar has completely collapsed in value no one wants Bolivars, anywhere. Worthless. Perhaps they might be used for toilet paper, which has also been unavailable for many months now.
I agree with you that The Economist is excellent reading compared to most of what’s out there. I recently subscribed to it (on my favorite reading device). Problem is time! Can’t keep up with The Economist and the two major newspapers. Then there’s the several unread editions of Barron’s lying around here as well!
I think we’re living through some really interesting times and am spending more time than I’d like to admit watching the non-Faux network. .
But at least we’re not living in a Banana Republic like Venezuela, yet.
I have a friend who used to work for Paul Singer (frat bro of mine!), and should ask them --- surely there is another rape opportunity here. Or perhaps I have not kept up Elliott Management's latest.
@Hank: If you read two newspapers that don't have comics, it's hard to fit in The Economist. I had a gift subscription, renewed it for two years, and then found the magazines sitting unread. It's serious journalism, a bit weighty, and I had to conclude that I couldn't bear reading about any more grave socioeconomic woes for which there appear to be no solutions. Dropped Barron's also.
@BenWP - Yep. As I recall you’re also in Michigan. Summer is especially tough for reading, as daylight runs until 9 or 10 PM and there’s so much to get done outdoors - and so little decent weather yearly.
However, I don’t mind paying the subscription fees, even if I don’t read it all. Good, independent, fact-based journalism has come under enormous pressures in recent years - both financially and politically. Keeping my subscriptions active year-round represents my small contribution to a vibrant and independent press.
Note that our founding fathers protected Freedom of the Press in the very First Amendment to the Constitution - ahead of all the others.
@hank: You make good points about supporting good journalism. We receive the New Yorker and the New York Review of Books, both of which have wonderful writers and actively promote their authors online. I followed someone's advice here to track down the profile of Paul Manafort at The Atlantic; well worth the read. I had not realized he was from New Britain, CT where has father was a corrupt mayor. I'd like to feel proud of my home state, but ouch!
Comments
Venezuelans are deserting the country in droves, looking for work in other South American countries. Prior to this, they were going over the border to neighboring countries to shop for basic supplies and foodstuffs, but now that the Bolivar has completely collapsed in value no one wants Bolivars, anywhere. Worthless. Perhaps they might be used for toilet paper, which has also been unavailable for many months now.
I agree with you that The Economist is excellent reading compared to most of what’s out there. I recently subscribed to it (on my favorite reading device). Problem is time! Can’t keep up with The Economist and the two major newspapers. Then there’s the several unread editions of Barron’s lying around here as well!
I think we’re living through some really interesting times and am spending more time than I’d like to admit watching the non-Faux network.
But at least we’re not living in a Banana Republic like Venezuela, yet.
https://www.nytimes.com/2018/05/10/opinion/out-of-good-options-for-venezuela.html
However, I don’t mind paying the subscription fees, even if I don’t read it all. Good, independent, fact-based journalism has come under enormous pressures in recent years - both financially and politically. Keeping my subscriptions active year-round represents my small contribution to a vibrant and independent press.
Note that our founding fathers protected Freedom of the Press in the very First Amendment to the Constitution - ahead of all the others.
https://www.nytimes.com/2018/08/05/opinion/notes-on-a-butter-republic.html