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- How Venezuela went from South America’s richest to poorest economy despite massive oil reserve...
In the early part of the last century, Venezuela was considered the leading economy in South America. At least part of the story is that the country discovered massive oil reserves in 1922. Currently, the country has the largest reserves of any country, 303 billion barrels. While that sounds good on paper, it doesn’t change the fact that the economy is the poorest in South America. The puzzle is, how did it get so bad with all that oil wealth waiting to be monetized?The first big move in the wrong direction was in 1976, when Venezuela’s government decided to nationalize all foreign oil companies in the country. In turn, the acquired new oil businesses were broadly placed under the already state-owned oil company Petróleos de Venezuela, S.A. (PDVSA). Yet perhaps surprisingly, the economy didn’t initially crash. "What kept it up was they were still producing oil," Robert Wright, a visiting professor… ...[TheTopNews] Read More.4 hours ago - ‘Happy Trump’ pins available, among other collectibles, after president dons new accesso...President Donald Trump is no stranger to making a statement and catches the media’s attention in doing so — this time, with new lapel pins.Trump has worn various styles over the years, some garnering more reaction than others. Most recently, he wore a new pin he called the "Happy Trump" pin, gaining significant attention from the media and public.Trump wore the accessory during a meeting with various high-profile oil and gas executives Jan. 9 alongside his customary American flag pin. The pin appears to be a cartoon-style depiction of Trump wearing his trademark blue suit and red tie with his mouth agape and eyebrows ruffled.TRUMP CREDITS TARIFFS FOR HUNDREDS OF BILLIONS GAINED WITH "VIRTUALLY NO INFLATION," TOUTS SECURITYFox News senior White House correspondent Peter Doocy noticed the pin and inquired during the meeting.The president explained it was a gift."You know what this is? That's called a ‘Happy Trump,’" Trump quipped while… ...[TheTopNews] Read More.5 hours ago
- What tariffs has Trump announced and why?
Trump's volatile trade policy has thrown the world economy into chaos, and put some US prices up. ...[TheTopNews] Read More.5 hours ago - How to Prevent Aging Parents and Relatives from Making Financial Mistakes
Getting family members to listen to you when you think they are headed down a dangerous financial path can be difficult. But there are preventive steps you can take. ...[TheTopNews] Read More.6 hours ago - The Man Delivering FedEx Into the Age of Drones, Robots and A.I.Raj Subramaniam took over three years ago from FedEx’s founder, who ran the company for nearly 50 years. Since then, technology, tariffs and other disruptions have “fundamentally shifted” patterns of global trade. ...[TheTopNews] Read More.6 hours ago
- At Davos, Global Leaders Gather to Ponder the Future of a Messy WorldAt its 56th annual meeting in Davos, the World Economic Forum will wrestle with war, economics, artificial intelligence and other pressing issues. ...[TheTopNews] Read More.6 hours ago
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