ECON Ecuador economic troubles

hoss

Out to lunch
Recently I posted about Sri Lanka. Today, I'm posting about Ecuador. I will leave it to the reader to draw conclusions.

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"Ecuador has faced almost a fortnight of riots as the people rise over the price of fuel and cost of living, economies are collapsing everywhere, and it's the common man suffering, all coordinated."
 

Luddite

Veteran Member
Huh, who would have ever thought the peons would get upset just because they could not afford to live their meager lives.
For some reason I thought of the Bolivian water wars. Over 20 years have past since that event.

Documentaries were made. Wikipedia has a suggestion that the plot of the Bond movie Quantum of Solace was based on the real life events there.

What was Gerald Celente's quote? "When people have nothing left to lose, they lose it"
 
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marsh

TB Fanatic

Squid

Veteran Member
This will spread as the realities of the elitist WEF war on people using energy and food reduction as a weapon makes more and more people desparate.
 
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Hfcomms

EN66iq
"Ecuador has faced almost a fortnight of riots as the people rise over the price of fuel and cost of living, economies are collapsing everywhere, and it's the common man suffering, all coordinated."

Coming to a town near you and me. I wish more people had prepped and had been paying attention.
 
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Plain Jane

Just Plain Jane

https://apnews.com/article/politics-caribbean-ecuador-quito-97351039835c0124ff65cf6d9c17ff6a#

Click to copy
1 dead, dozens hurt in 12th day of protesting in Ecuador
today


Demonstrators clash with police during protests against President Guillermo Lasso's economic policies and a demand to cut fuel prices, in downtown Quito, Ecuador, Thursday, June 23, 2022. (AP Photo/Dolores Ochoa)
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Demonstrators clash with police during protests against President Guillermo Lasso's economic policies and a demand to cut fuel prices, in downtown Quito, Ecuador, Thursday, June 23, 2022. (AP Photo/Dolores Ochoa)

QUITO, Ecuador (AP) — One man was killed and dozens injured Thursday during the 12th day of protests led by Indigenous people demanding that Ecuador’s government cut fuel prices, put price controls on food and spend more on education.

After several days of increasing violence, demonstrations clashed with soldiers and riot police in Quito and other cities in the Andean country.

The Confederation of Indigenous Nationalities, which has organized the national strike, said a demonstrator died of pellet wounds in the chest and abdomen while protesting near the National Assembly.

Authorities acknowledged there was one death, and Interior Minister Patricio Carrillo said they were “dismayed.” He said that the government had not provided any pellet guns to police personnel and that on Thursday they were carrying only gas to disperse protesters.
Christian Rivera, a volunteer paramedic, told The Associated that 100 or so people had been treated at the site, including protesters, soldiers and police.


The demonstrations are part of a national strike that the Confederation of Indigenous Nationalities began June 14 to demand that gasoline prices be cut 45 cents a gallon to $2.10, price controls be put on agricultural products and a larger budget be adopted for education. Protests have been especially violent in six provinces in north-central Ecuador.

https://apnews.com/article/us-supreme-court-new-york-jersey-gun-politics-government-and-24a6a82ea365212ecaa7af71f9c72561
Indigenous leader Leonidas Iza on Tuesday demanded that the government lift the state of emergency in those provinces and remove the military and police presence around places where protesters have gathered in Quito. But the government rejected the demands Wednesday, saying meeting them would leave “the capital defenseless.”

Quito is experiencing food and fuel shortages because of protester roadblocks and other disruptions from the unrest.
 
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20Gauge

TB Fanatic
What surprises me is that this is only the 2nd country to come to light. I expected of the 140+ nations in this world that 70+ were having riots already.

Maybe after the elections.... I know we will once Biden loses Congress.
 
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Plain Jane

Just Plain Jane
Ecuador has the US dollar as its currency. There are also 3 posts so far about this here ( posts 27, 31, 32).



Some snips:
"Ecuador adopted the United States dollar on 13 April 2000 as its national currency and on 11 September, the country eliminated the Ecuadorian sucre, in order to stabilize the country's economy.[32]"

"The emergence of the Amerindian population as an active constituency has added to the democratic volatility of the country in recent years. The population has been motivated by government failures to deliver on promises of land reform, lower unemployment and provision of social services, and historical exploitation by the land-holding elite. Their movement, along with the continuing destabilizing efforts by both the elite and leftist movements, has led to a deterioration of the executive office. The populace and the other branches of government give the president very little political capital, as illustrated by the most recent removal of President Lucio Gutiérrez from office by Congress in April 2005. Vice President Alfredo Palacio took his place and remained in office until the presidential election of 2006, in which Rafael Correa gained the presidency.[33]"

"Presidency of Guillermo Lasso since 2021Edit
The 11 April 2021 election run-off vote ended in a win for conservative former banker, Guillermo Lasso, taking 52.4% of the vote compared to 47.6% of left-wing economist Andrés Arauz, supported by exiled former president, Rafael Correa. Previously, President-elect Lasso finished second in the 2013 and 2017 presidential elections.[48] On 24 May 2021, Guillermo Lasso was sworn in as the new President of Ecuador, becoming the country's first right-wing leader in 14 years.[49] However, President Lasso's party CREO Movement, and its ally the Social Christian Party (PSC) secured only 31 parliamentary seats out of 137, while the Union for Hope (UNES) of Andrés Arauz was the strongest parliamentary group with 49 seats, meaning the new president needs support from Izquierda Democrática (18 seats) and the indigenist Pachakutik (27 seats) to push through his legislative agenda.[50]

In October 2021, President Lasso declared a 60-day state of emergency with the intention to combat crime and drug-related violence.[51]"
 

Southside

Veteran Member
I was there in 2012. Times were good, then.
Absolute breath taking poverty. Everywhere. I liked it OK there, wife not so much.
It's not as hot there as you would think it would be. Micro climates everywhere. Drive 10 miles, and completely different weather. In 2012, the gas price was fixed at $1.07 for reg, $1.14 for premium. You could build a nice house, on an acre, right on the beach, for $200,000. The people were very nice, for the most part.
Oh, and driving there, and in the Andes. Wow! The craziest, most considerate drivers I have seen. And I have driven in many foreign countries. Passing on mountain roads, 5,6,7 cars, no matter, everyone just moves over. It was nerve wracking. Had to drive with your head on a swivel. We still correspond with people we met there.
 

Cacheman

Ultra MAGA!
The Global Debt collapse has officially launched. It began in Sri Lanka and will cascade as other economies fall like dominos. Covid policy was used to set up the story of why it's happening to point the blame. Biden said the other day expect another pandemic…do you see it yet? Coming to the US soon and maybe sooner than we want to think about. This time I hope people woke up and point fingers at exactly who's to blame, our corrupt politicians and FED.
 

hiwall

Has No Life - Lives on TB
If any country in the world is facing economic trouble or any shortages, they can send their people here and America will let them in, feed them, cure their ills, house them, and give them citizenship.
 

Bubble Head

Has No Life - Lives on TB
David Wilkerson had a prophecy that a great collapse would start with a small South American country defaulting. Just throwing this out there. It has been many years since I read exactly what he said.
 
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20Gauge

TB Fanatic
The national currency of Ecuador.
$USD
As the dollar goes, so does Ecuador
Their problem is not the dollar, but their borrowing and debt to GDP.

So far the USA and JAPAN are the only countries that have managed to avoid the debt to GDP issue.

JAPAN because it has a strong production economy and it exports a lot.
USA is okay for the moment is okay as we are the reserve currency.

This will not last forever.
 

Dozdoats

On TB every waking moment
Their problem is not the dollar, but their borrowing and debt to GDP.
But the ZUSA doesn't have that problem, no.
==================

Ecuador National Debt 2020 | countryeconomy.com

Ecuador national debt goes up
In 2020 Ecuador public debt was 60,458 million dollars, has increased 4,878 million since 2019.

This amount means that the debt in 2020 reached 60.89% of Ecuador GDP, a 9.48 percentage point rise from 2019, when it was 51.41% of GDP.
/snip/
-----------------------------------------

And 1000 million = a billion ...

United States National Debt 2020 | countryeconomy.com

The national debt increased in United States
In 2020 United States public debt was 28,047,286 million dollars, has increased 4,793,960 million since 2019.

This amount means that the debt in 2020 reached 134.24% of United States GDP, a 25.44 percentage point rise from 2019, when it was 108.8% of GDP.
If we check the tables we can see the evolution of United States debt. It has risen since 2010 in global debt terms, when it was 14,325,908 million dollars and also in terms of GDP percentage, when it amounted to 95.2%.

According to the last data point published, United States per capita debt in 2020 was 84,675 dollars per inhabitant. In 2019 it was 70,776 dollars, afterwards rising by 13,899 dollars, and if we again check 2010 we can see that then the debt per person was 46,310 dollars .
/snip/
 
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marsh

TB Fanatic
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