Can we get osrs gold on here for comparison to the Venezuelans?
@spongeblade, the World of Warcraft currency is worth more than Venezuelas.
tHaT wAsN’t ReAl SoCiAlIsM!!111!!!
I’m fine with not winning this race
I'm no economist but I'm pretty sure that's no bueno. Can someone explain what it really means when your country's economy has a something something billion inflation rate?
@Drunk Pantless Uncle, you'd need an entire warehouse full of cash just to buy a cup of coffee with an inflation rate of a billion
@Drunk Pantless Uncle, usually it means your solution to a debt problem is just printing more money, which massively devalues the currency. Also in Venezuela’s case, what happened was they were reliant entirely on oil for their economy, and because oil was so profitable several years back (when we were paying $3.85/gal), they were able to institute strong social programs that required massive spending. But now that the oil market has crashed in price and they have literally no other industry to rely on, they needed a way to pay for those services and Nicolas Maduro (sp?) decided to print more money to cover those costs, causing inflation to skyrocket, and now there’s a civil war happening there to overthrow his regime and institute a more capitalist and pro-american government.
@Sven and Otar, America likes to do that to countries who try to take their oil back. Obama is the one who tanked the oil prices. Lol.
@Drunk Pantless Uncle, people were able to farm and sell old school Runescape gold for more money than what professional doctors were making per hour
@hollow114, we didn’t have much to do with that as a government, that was OPEC. They kept jacking the prices up and up until Americans and the rest of the world refused to pay those prices/reduced travel, so they built up a stockpile and then realized they needed to offload it so OPEC reduced prices and because of that, Venezuela started having it’s economic woes.
@Sven and Otar, I thought Obama also lifted a lot of rules on sale of US oil that helped.
@hollow114, not to my knowledge, perhaps he lifted some restrictions for oil extraction in our tar sands (U.S. primary source of oil), but that process actually requires gas to be~$3.00/gal to be profitable. That may have helped some to lower the average cost of oil, but probably not that much if he did do that
@Sexy Homunculus, Germany in the 30’s needed a wheelbarrow full of banknotes to buy a loaf of bread.
@Drunk Pantless Uncle, they ran out of other people's money.
@Drunk Pantless Uncle, you stop using the country’s currency and something else takes its place.
What is theme song from?
@The Token Black Guy, it’s GAS GAS GAS from the Initial D soundtrack
Can inflation be reversed? I'm just stupid with economy.
@hasher2288, yes of course. The government who produces the inflated money can either remove money from circulation (thus increasing the value of the remaining money) or they can implement changes that bring more money into the government.
Is it just me or would this be 10× better if the song "drop" was more on cue with the super inflation?
@Sexy Homunculus, in Africa, silly!
@Raterpillar , you made me chuckle, thank you
@Sexy Homunculus, the Zambs got its proverbial shjt together enough to reverse the inflation. Though I think for a few years they were unofficially using USD for their currency.
It’s funny because it shakes!
What happens when you try to keep American companies from their oil.
@hollow114, how stunning and brave. I award you 2 virtue points for signaling your virtue and showing that you belong to a specific ideology camp.
@big freedom, 12 coup attempts beg to differ
@hollow114, lmfao. 👌🏼 good argument.
@hollow114, let’s ignore entirely the fact that socialism doesn’t work and caused the economic crisis in the first place. This is exactly What happens when you run out of other people’s money to spend and decide to print more.
@DoctaDes, it doesn't work unless it does. Same as every other economic model. America has plenty of socialist programs. Not exactly destroying the country. Rich people abusing capitalism is. Though.
Sauce of the song