Friday, March 12, 2021

The Socialist paradise of Venezuela

Caruzo: The Socialist Revolution Expects Venezuela’s Elderly to Live Off $0.63 a Month

CARACAS, Venezuela – Time and time again the “Bolivarian, Socialist, Anti-Imperialist, and Profoundly Chavista” Revolution has stylized itself as a champion of the elderly.

In reality, being an elderly Venezuelan in times of socialist revolution means living a miserable retirement, on a pension so low that it’s all but a death sentence.

1,200,000 Venezuelan bolivars – that’s the amount of money a Venezuelan retiree receivesfrom the government around the 20th of each month, an amount equal to our monthly minimum wage, which translates to roughly $0.63 using the Central Bank of Venezuela’s official exchange rate at the start of March 2021.

What can you buy with 1.2 million bolivars as of March 2021? Absolutely nothing. A dozen eggs hover around 2.7 million ($1.48). Milk varies by presentation, ranging from 2.5 million ($1.35) to upwards of 12 million ($6.85). A kilogram of rice goes for about 1.9 million ($1.05), and a pack of pasta goes for 3.1 million ($1.65).


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