Endgame ahead

Archive for the ‘South America’ Category

Chile: Student pretesters clash with police

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Euronews reports:

Keeping up their fight for more education funding, thousands of students have taken to the streets of Chile’s capital, Santiago.

But their protests, launched more than six months ago, have often ended in violence and the latest demonstrations were no different.

Security forces used water cannon and tear gas as clashes broke out with a number of youths who hurled rocks and other objects at police. Dozens of arrests were reported.

Students are demanding a major overhaul of the education system, with a decision on the budget due in parliament by the end of the month.

Written by mo

November 25th, 2011 at 1:44 pm

Current hyperinflation: Argentina, Belarus, Vietnam, Venezuela

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Save Capitalism recently posted an update on the currently most hyperinflationary nations, together with some nice graphs illustrating the misery.

Or to put it in numbers, using Belarus as an example:

Belarus reported consumer price inflation at hyperinflationary levels of 92.3% in October, up from 79.6% in September, and 36.2% in the year to June, according to the National Statistic Committee, meanwhile the government is forecasting 2011 inflation of as much as 39%.

The Bank also said that interest rates on liquidity management operations would also increase, with the overnight deposit rate rising to 30% and the overnight credit rate rising to 60%.  The USD-Belarussian ruble (BYR) exchange rate has doubled on the black market, rising to as much as 7,000 per dollar (approx. 6,000 in July), and currently trades around 8795 (5350 in September) against the US dollar, according to quotes from Yahoo Finance.

Written by mo

November 20th, 2011 at 11:49 pm

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