Venezuela Raises Minimum Wage 3,000% and Lots of Workers Get Fired

[Wyatt earp]

Like no one saw this coming, so where are the genius liberal economics majors about this? Let's do that here!!!!!!



Terms of Service Violation


Venezuelan workers who earned a pittance are now earning a slightly larger pittance, thanks to a big increase in the minimum wage. What they may not have are jobs.

Starting this week, 7 million employees are guaranteed 1,800 bolivars a month -- worth about $20 at the black-market rate. President Nicolas Maduro intended the mandate as political boost, but it’s having the opposite effect as companies, already hit by Venezuela’s epic economic contraction, tell workers they can’t afford to keep them.

A shopper passes empty shelves at a grocery store in Caracas.

Photographer: Carlos Becerra/Bloomberg
While there have been many similar moves in the past, never has one been so disruptive, arriving amid hyperinflation, depression and devaluation. Some employers are restructuring costs, rejiggering pay scales and negotiating settlements with workers. Others are simply dismissing people. Much of the action happens secretively as companies try to avoid punishment by the government, which has been jailing those it believes are flouting the rules.

 

[Norman]

I hope they have family pets left. If not, children?

Happy meals like never before incoming.

 

[SassyIrishLass]

The joys of Socialism....paying attention demoquacks?

 

[JWBooth]

Like no one saw this coming, so where are the genius liberal economics majors about this? Let's do that here!!!!!!



Terms of Service Violation


Venezuelan workers who earned a pittance are now earning a slightly larger pittance, thanks to a big increase in the minimum wage. What they may not have are jobs.

Starting this week, 7 million employees are guaranteed 1,800 bolivars a month -- worth about $20 at the black-market rate. President Nicolas Maduro intended the mandate as political boost, but it’s having the opposite effect as companies, already hit by Venezuela’s epic economic contraction, tell workers they can’t afford to keep them.

A shopper passes empty shelves at a grocery store in Caracas.

Photographer: Carlos Becerra/Bloomberg
While there have been many similar moves in the past, never has one been so disruptive, arriving amid hyperinflation, depression and devaluation. Some employers are restructuring costs, rejiggering pay scales and negotiating settlements with workers. Others are simply dismissing people. Much of the action happens secretively as companies try to avoid punishment by the government, which has been jailing those it believes are flouting the rules.

A great victory for Democratic Socialism

 

[WillMunny]

A mess like Venezuela is the perfect cautionary tale of how NOT to run a society. So I'm actually grateful to an utterly failed nation (on an utterly failed, coke-soaked continent with no redeeming qualities of any kind) for providing the world a valuable lesson based on observation.

 

[Polishprince]

I really feel for the people of Venezuela , but their plight shows the folly of Ultraliberalism and what this nation faces if we turn toward the left.

I remember the coup of 2002, and all the love American Liberals gave to Chavez to restore his tyranny. Leading libs like Sean Penn went to Caracas to honor the Liberal Leader.

From there, the Liberal Despots of Venezuela have led the country down the garden path.

And even though Venezuela is fantastically wealthy sitting on untold petro-wealth, they will soon fall.

 

[danielpalos]

Like no one saw this coming, so where are the genius liberal economics majors about this? Let's do that here!!!!!!



Terms of Service Violation


Venezuelan workers who earned a pittance are now earning a slightly larger pittance, thanks to a big increase in the minimum wage. What they may not have are jobs.

Starting this week, 7 million employees are guaranteed 1,800 bolivars a month -- worth about $20 at the black-market rate. President Nicolas Maduro intended the mandate as political boost, but it’s having the opposite effect as companies, already hit by Venezuela’s epic economic contraction, tell workers they can’t afford to keep them.

A shopper passes empty shelves at a grocery store in Caracas.

Photographer: Carlos Becerra/Bloomberg
While there have been many similar moves in the past, never has one been so disruptive, arriving amid hyperinflation, depression and devaluation. Some employers are restructuring costs, rejiggering pay scales and negotiating settlements with workers. Others are simply dismissing people. Much of the action happens secretively as companies try to avoid punishment by the government, which has been jailing those it believes are flouting the rules.

they need a corps of agricultural engineers, not money; Socialism is not Capitalism.

 

[OnePercenter]

The joys of Socialism....paying attention demoquacks?

Coming attractions of tRumps America.

 

[OnePercenter]

Like no one saw this coming, so where are the genius liberal economics majors about this? Let's do that here!!!!!!



Terms of Service Violation


Venezuelan workers who earned a pittance are now earning a slightly larger pittance, thanks to a big increase in the minimum wage. What they may not have are jobs.

Starting this week, 7 million employees are guaranteed 1,800 bolivars a month -- worth about $20 at the black-market rate. President Nicolas Maduro intended the mandate as political boost, but it’s having the opposite effect as companies, already hit by Venezuela’s epic economic contraction, tell workers they can’t afford to keep them.

A shopper passes empty shelves at a grocery store in Caracas.

Photographer: Carlos Becerra/Bloomberg
While there have been many similar moves in the past, never has one been so disruptive, arriving amid hyperinflation, depression and devaluation. Some employers are restructuring costs, rejiggering pay scales and negotiating settlements with workers. Others are simply dismissing people. Much of the action happens secretively as companies try to avoid punishment by the government, which has been jailing those it believes are flouting the rules.

Why are your links always branded: Terms of Service Violation?

Is that the new brand for "Fake News?"

 

[bripat9643]

The joys of Socialism....paying attention demoquacks?

I really feel for the people of Venezuela , but their plight shows the folly of Ultraliberalism and what this nation faces if we turn toward the left.

I remember the coup of 2002, and all the love American Liberals gave to Chavez to restore his tyranny. Leading libs like Sean Penn went to Caracas to honor the Liberal Leader.

From there, the Liberal Despots of Venezuela have led the country down the garden path.

And even though Venezuela is fantastically wealthy sitting on untold petro-wealth, they will soon fall.

The people who voted in these thugs don't deserve any sympathy. They're getting exactly what they deserve.

 

[CrusaderFrank]

Like no one saw this coming, so where are the genius liberal economics majors about this? Let's do that here!!!!!!



Terms of Service Violation


Venezuelan workers who earned a pittance are now earning a slightly larger pittance, thanks to a big increase in the minimum wage. What they may not have are jobs.

Starting this week, 7 million employees are guaranteed 1,800 bolivars a month -- worth about $20 at the black-market rate. President Nicolas Maduro intended the mandate as political boost, but it’s having the opposite effect as companies, already hit by Venezuela’s epic economic contraction, tell workers they can’t afford to keep them.

A shopper passes empty shelves at a grocery store in Caracas.

Photographer: Carlos Becerra/Bloomberg
While there have been many similar moves in the past, never has one been so disruptive, arriving amid hyperinflation, depression and devaluation. Some employers are restructuring costs, rejiggering pay scales and negotiating settlements with workers. Others are simply dismissing people. Much of the action happens secretively as companies try to avoid punishment by the government, which has been jailing those it believes are flouting the rules.

Bernie and his Amen Choir need a one way ticket there asap

 

[SassyIrishLass]

The joys of Socialism....paying attention demoquacks?

Coming attractions of tRumps America.

That was really stupid. Why bother?

 

[Meathead]

Like no one saw this coming, so where are the genius liberal economics majors about this? Let's do that here!!!!!!



Terms of Service Violation


Venezuelan workers who earned a pittance are now earning a slightly larger pittance, thanks to a big increase in the minimum wage. What they may not have are jobs.

Starting this week, 7 million employees are guaranteed 1,800 bolivars a month -- worth about $20 at the black-market rate. President Nicolas Maduro intended the mandate as political boost, but it’s having the opposite effect as companies, already hit by Venezuela’s epic economic contraction, tell workers they can’t afford to keep them.

A shopper passes empty shelves at a grocery store in Caracas.

Photographer: Carlos Becerra/Bloomberg
While there have been many similar moves in the past, never has one been so disruptive, arriving amid hyperinflation, depression and devaluation. Some employers are restructuring costs, rejiggering pay scales and negotiating settlements with workers. Others are simply dismissing people. Much of the action happens secretively as companies try to avoid punishment by the government, which has been jailing those it believes are flouting the rules.

That Puerto Rican chick in NYC must have soaked panties.

 

[Wyatt earp]

Like no one saw this coming, so where are the genius liberal economics majors about this? Let's do that here!!!!!!





Terms of Service Violation


Venezuelan workers who earned a pittance are now earning a slightly larger pittance, thanks to a big increase in the minimum wage. What they may not have are jobs.

Starting this week, 7 million employees are guaranteed 1,800 bolivars a month -- worth about $20 at the black-market rate. President Nicolas Maduro intended the mandate as political boost, but it’s having the opposite effect as companies, already hit by Venezuela’s epic economic contraction, tell workers they can’t afford to keep them.

A shopper passes empty shelves at a grocery store in Caracas.

Photographer: Carlos Becerra/Bloomberg
While there have been many similar moves in the past, never has one been so disruptive, arriving amid hyperinflation, depression and devaluation. Some employers are restructuring costs, rejiggering pay scales and negotiating settlements with workers. Others are simply dismissing people. Much of the action happens secretively as companies try to avoid punishment by the government, which has been jailing those it believes are flouting the rules.

Why are your links always branded: Terms of Service Violation?

Is that the new brand for "Fake News?"

Bloomberg is fake news? So how's your assnine plan of a $23 dollar minimum wage coming , ya know where their is no middle class just like 70% of Americans making minimum wage..


.

 

[candycorn]

This from the Houston Chronicle back in 2014:

One would think that conservatives would favor a minimum wage high enough to get people off government welfare programs. But this is not the case. Their distaste for “handouts” and imposing perceived burdens on employers far outweighs their desire to shrink the size of government and in turn the federal budget deficit. Conservatives’ concern about a higher minimum wage is more about their concern for losing campaign contributions from very wealthy donors who stand to lose if the wage is increased, not about their concern for minimum wage workers losing their jobs.

I was surprised that it had not been raised in about ten years. The idea of raising the FMW to $15 per hour is crazy in my opinion. But $10 seems about right if done in stages over the next decade or so.

 

[Polishprince]

I was surprised that it had not been raised in about ten years. The idea of raising the FMW to $15 per hour is crazy in my opinion. But $10 seems about right if done in stages over the next decade or so.

I could agree with this. But I'd want the solemn word of liberals not to pursue anything more for the next ten years in exchange.

 

[Wyatt earp]

This from the Houston Chronicle back in 2014:

One would think that conservatives would favor a minimum wage high enough to get people off government welfare programs. But this is not the case. Their distaste for “handouts” and imposing perceived burdens on employers far outweighs their desire to shrink the size of government and in turn the federal budget deficit. Conservatives’ concern about a higher minimum wage is more about their concern for losing campaign contributions from very wealthy donors who stand to lose if the wage is increased, not about their concern for minimum wage workers losing their jobs.

I was surprised that it had not been raised in about ten years. The idea of raising the FMW to $15 per hour is crazy in my opinion. But $10 seems about right if done in stages over the next decade or so.

Because they would just have to raise the welfare level, jesus Christ they are still poor as hell making minimum wage no mater what the national MW is .

 

[candycorn]

I was surprised that it had not been raised in about ten years. The idea of raising the FMW to $15 per hour is crazy in my opinion. But $10 seems about right if done in stages over the next decade or so.

I could agree with this. But I'd want the solemn word of liberals not to pursue anything more for the next ten years in exchange.

Sounds fair.

 

[candycorn]

This from the Houston Chronicle back in 2014:

One would think that conservatives would favor a minimum wage high enough to get people off government welfare programs. But this is not the case. Their distaste for “handouts” and imposing perceived burdens on employers far outweighs their desire to shrink the size of government and in turn the federal budget deficit. Conservatives’ concern about a higher minimum wage is more about their concern for losing campaign contributions from very wealthy donors who stand to lose if the wage is increased, not about their concern for minimum wage workers losing their jobs.

I was surprised that it had not been raised in about ten years. The idea of raising the FMW to $15 per hour is crazy in my opinion. But $10 seems about right if done in stages over the next decade or so.

Because they would just have to raise the welfare level, jesus Christ they are still poor as hell making minimum wage no mater what the national MW is .

The generalities of your argument (not to mention the fallacies as indicated through historical lesson) are profound.

 

[Wyatt earp]

This from the Houston Chronicle back in 2014:

One would think that conservatives would favor a minimum wage high enough to get people off government welfare programs. But this is not the case. Their distaste for “handouts” and imposing perceived burdens on employers far outweighs their desire to shrink the size of government and in turn the federal budget deficit. Conservatives’ concern about a higher minimum wage is more about their concern for losing campaign contributions from very wealthy donors who stand to lose if the wage is increased, not about their concern for minimum wage workers losing their jobs.

I was surprised that it had not been raised in about ten years. The idea of raising the FMW to $15 per hour is crazy in my opinion. But $10 seems about right if done in stages over the next decade or so.

Because they would just have to raise the welfare level, jesus Christ they are still poor as hell making minimum wage no mater what the national MW is .

The generalities of your argument (not to mention the fallacies as indicated through historical lesson) are profound.

Say what? Minimum wage used to be 25 cents an hour, I have no clue when we started to give welfare to workers but I know damn well they had to raise it with the increase of the MW over the years.


Hell I read like over 50% of California workers are eligible..