Bloomberg: Venezuela Most Miserable Country On Planet, But US Makes Biggest Misery Move In Rankings.

Photo: Mercopress. Housing in Venezuela. According to Bloomberg, Venezuela is the most miserable place on earth.
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Venezuela is the most miserable country in the World, according to Bloomberg’s Misery Index, which tallies inflation and unemployment outlooks for 60 economies.

The country suffers from soaring prices, with Cafe Con Leche Index estimating an inflation rate of 4,043%

The Bloomberg Misery Index shows that almost all of the economies surveyed are projected to be more miserable this year amid Covid-19, with analysts expecting increased joblessness and tepid growth.

Venezuela, Argentina, South Africa, Turkey and Colombia held on to their unenviable rankings from 2019 as the world’s most miserable economies, with Venezuela keeping status as the world’s worse for a sixth straight year.

Thailand claimed the title of the “least miserable” economy, though the government’s unique way of tallying unemployment makes it less noteworthy than Taiwan’s two-spot improvement to No. 6 or Singapore’s bump to No. 2 on that scale.

Other countries that are relatively less miserable this year include Luxembourg, China, and Germany which has not actually changed much, but has benefited from other nations becoming even more miserable.

America fell 25 spots, from the No. 50 spot to No. 25.. The drop comes as President Donald Trump fights for re-election while millions of Americans remain unemployed.

Only Iceland, Israel, and Panama were even close to that level of deterioration in the annual rankings.

For some, whose misery scores are projected to be lower in 2020 than they were in 2019, including Turkey, even the good news is bad news. The lower misery scores are largely due to weaker demand that’s driven inflation expectations lower.

Just two days ago Voice of America reported that a US State Department spokeswoman said Thursday that government of Venezuelan President Nicolas Maduro is blocking U.S. citizens in the country from leaving, rebuffing efforts by Washington to arrange humanitarian evacuation flights,

“We have made offers in the past that would allow U.S. citizens to leave, but all were rejected by Maduro and his cronies,” the spokeswoman, Morgan Ortagus, said in an emailed statement, adding that Washington was looking at all options to ensure the secure return home of U.S. citizens trapped in Venezuela.

She did not say how many Americans were stuck in Venezuela, nor comment on their misery level, which is assumed to be rather high at this time.

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