Business

With the nation's currency in full-fledged hyperinflationary collapse, OilPrice.com's Nick Cunningham notes that at times it seems that Venezuela’s economic crisis cannot get any worse. Food shortages, electricity blackouts, and scarce medical supplies have created a humanitarian disaster in Venezuela. However, with each passing month the situation deteriorates, and the crisis appears to be entering a dangerous new phase.

Venezuela’s currency has lost about 60% of its value so far in November, the worst monthly decline on record.

The Washington Post Has Always Been A Purveyor Of Fake News

http://www.strategic-culture.org/news/2016/11/28/major-purveyor-fake-news-cia-corporate-complex.html

The post The Washington Post Has Always Been A Purveyor Of Fake News appeared first on PaulCraigRoberts.org.

Dallas Fed business outlook survey soared to 10.2 in November (smashing expectations of +2.0) - the first expansionary print in 22 months. 

Across the board exuberance was evident with 11 of the 15 components soaring double-digits. However, it is the post-Trump victory "hope" that really spiked - six month ahead expectations for increased business exploded by the most since 2007.

But gains were seen across the entire survey..

We leave it to one of the Dallas Fed survey respondents to explain...

Following news over the weekend of cancelled meetings, Saudi dropping out, and disagreement over who will bear the brunt of any cuts, oil prices had faded notably (testing towards a $44 handle). But then, someone unleashed the algo-friendly 'O' word and prices spiked... Iraq’s Oil Minister Jabbar al-Luaibi is optimistic a deal will be reached - sending WTOI up close to $47 and into the green from Friday's close.

The day and week is young, expect the headline hockey to continue.

Greek banks have proposed a series of measures to combat tax evasion, strengthen the electronic transactions and limit the use of cash in the economy, and as KeepTalkingGreece.com reports, one of the measures proposed is a special tax on cash withdrawals.

 Bankers reportedly stress that cash money can easily and largely be channeled in the black economy. Therefore, a tax on cash withdrawals will drastically reduce cash transactions and by extension the black economy.