Front (obverse) of Venezuelan currency, 2007 – 2017

Reverse of 100,000 Bolivares paper currency. This is now worthless. In 12/20, one US dollar could get you 1.2 MILLION of these.

To illustrate the devastation from hyperinflation, we will now use Venezuelan Bolivares currency to see what that destruction looks like in terms of paper money.

To start, we will look at the currency itself.

As usual for currency outside the U.S., the paper money of Venezuela are esthetically beautiful. All the bills are colorful with lovely illustrations. All the ones we will now see have a nice sized watermark at the otherwise empty space. The watermarks are same face at the bottom of the obverse (front).

Portraits on the obverse of the currency are patriotic reminders of the struggle for Venezuelan independence.

To start our pictorial excursion, here are the obverses of the 2 Bolivar through 100,000 Bolivar currency:

2 – dated 12/27/12, featuring Francisco de Miranda, his efforts for independence in South America failed; he served as forerunner of Simon Bolivar.

5 – dated 5/24/07, featuring Negro Primero

Continue reading “Front (obverse) of Venezuelan currency, 2007 – 2017”

This is hyperinflation, Venezuela edition. Expected devastation from socialism. Part 4.

Final graph in this series of posts showing the devastating hyperinflation currently running loose in Venezuela will combine two sets of data.

Purpose of doing so is to see if the two sets of data overlap so that there is some good longer-term information that can be used into the future. The source for current data only goes back to late 2020.

Graph at the top of this post shows exchange rate of Venezuelan Bolivars into US dollars between June 2019 and March 2021. This graph is expressed in Bolivar soberanos (Bv.s).

Continue reading “This is hyperinflation, Venezuela edition. Expected devastation from socialism. Part 4.”

This is hyperinflation, Venezuela edition. Courtesy of socialism, of course. Part 3

Let’s look at the exchange rate in Venezuela in more detail, breaking out the exchange rate before and after 2018. On the previous graphs it looked like the exchange rate deterioration wasn’t that bad in the lead up to 2018 and it looks like things turned real bad starting in 2019.

That’s the weird thing about hyperinflation. If you remove the recent severe acceleration you still see the rapid increase earlier.

Graph at the top of this post shows exchange rate through 2018. It looks like hyperinflation kicked off in early 2018. Actually, it was going crazy before that. Inflation so severe as to destroy the economy has been running since 2012. Let’s change that graph above to a logarithmic scale to show the percentage changes better.

Continue reading “This is hyperinflation, Venezuela edition. Courtesy of socialism, of course. Part 3”

This is hyperinflation, Venezuela edition. Courtesy of socialism, as usual. Part 2.

Hyperinflation is running rampant in Venezuela. Previous post described the deteriorating exchange rate in 2020 and thus far in 2021.

Let’s take a longer-term view to see the devastation of hyperinflation over the course of several years. We will turn to data available from Wikipedia in the article Hyperinflation in Venezuela.

Continue reading “This is hyperinflation, Venezuela edition. Courtesy of socialism, as usual. Part 2.”

This is hyperinflation, Venezuela edition. Courtesy of socialism, as always. Part 1.

Banknotes of Zimbabwe after hyperinflation. Image courtesy of Adobe Stock.

Socialism in Venezuela has produced the expected results – poverty, a collapsing economy, and people fleeing for their lives. Twenty some odd years of socialism has also produced another foreseeable consequence – hyperinflation.

Let’s track the exchange rate of Venezuelan Bolivars to US dollar as an indicator.

According to Exchange-Rates.org, here is exchange rate of the Venezuelan bolivar to dollar from 9/11/20 through 3/5/21. Here is the month end data:

Continue reading “This is hyperinflation, Venezuela edition. Courtesy of socialism, as always. Part 1.”

US is developing new ICBM and new strategic bomber.

The United States is working on developing a new ICBM to replace the Minuteman III and new Stealth bomber to replace the B-2.

1/15/21 – Air Force Magazine – Second B-21 Under Construction as Bomber Moves Toward First Flight Northrop Grumman is building a second B-21 Raider bomber. The first is expected to roll off the production line early in 2020 and fly sometime the following summer. Goal is for the newest bar to operational in 2026 or maybe 2027.

Cost of the first 100 off the production line is expected to be around $80 billion adjusted to 2016 dollars. That is around $800 million a piece.

Continue reading “US is developing new ICBM and new strategic bomber.”

Worlds far away– Final though on cost of luxury yacht, support yacht, and supporting equipment. Part 4

Hodor on left, Lonian on right, with harbor cruise ship passing between them. Provides perspective on size of the yachts. Photo by James Ulvog.

Previous posts in this series describe a luxurious 87 m yacht, the 66 m support yacht, and all the ancillary equipment carried on board, such as a personal submarine, helicopter, and five speedboats.

One final thought – curb your envy.

Continue reading “Worlds far away– Final though on cost of luxury yacht, support yacht, and supporting equipment. Part 4”

Worlds far away I will never visit – Cost of supporting equipment on support yacht. Part 3

Photo by James Ulvog.

First post in this series described a luxury yacht and its associated support yacht. Second post made some guesses on the price tag for the two yachts along with a private jet this person owns.

Now this look at some of the auxiliary equipment, referred to as “toys” in the trade magazines, carried on the support yacht.

Helicopter

Articles above describing the Honan say it is rated for a helicopter such as an EC145. Controller website lists several EC 145 for sale with prices shown for three:

Continue reading “Worlds far away I will never visit – Cost of supporting equipment on support yacht. Part 3”

Lakota Sioux Code Talker Clarence Wolf Guts. My newest hero.

Navajo code talkers by United States Marine Corps is courtesy of the U.S. Government. These heroes from Navajo reservation were honored on 2/19/10, the 65th anniversary of the battle of Iwo Jima. I was unable to find a picture of Lakota code talkers.

In June 2010 America and the Lakota Sioux people lost a hero.

Clarence Wolf Guts was born and raised on the Rosebud Reservation in the south-central area of South Dakota. During World War II he served as a code talker with other men from the reservation. There were about a dozen code talkers using the Sioux language.

Continue reading “Lakota Sioux Code Talker Clarence Wolf Guts. My newest hero.”

Worlds far away I will never visit – Cost of luxury yacht and its support yacht. Part 2.

Foredeck. Photo by James Ulvog.

Previous post described a huge luxury yacht and a slightly smaller yacht used his support to carry the helicopter, submarine, and five small (?) support boats.

Totally wild guesses on costs

The accountant in me is incapable of using a high-powered telescope to glimpse inside this rarefied world without wondering about the costs. So…

Continue reading “Worlds far away I will never visit – Cost of luxury yacht and its support yacht. Part 2.”

Another world far away that I will never visit – Yachts so luxurious they have their own support yacht. Part 1

Photo by James Ulvog.

While on vacation recently in San Diego I saw a huge yacht parked in San Diego harbor. This one looked weird, with a helicopter and several boats on the deck. A few hours later another yacht pulled into the harbor, dropping anchor many hundred feet away.

Photo by James Ulvog.

Noticed the name on the side of the first ship was Hodor. Well, of course I did a quick check on the ole’ internet and learned it is a support yacht.

Continue reading “Another world far away that I will never visit – Yachts so luxurious they have their own support yacht. Part 1”

On this Veterans Day, it is fitting and proper to honor the sacrifice of Sergeant Alwyn Cashe.

Sergeant First Class Alwyn Cashe. Photo courtesy of U.S. Army.

While his clothes were on fire after an improved explosive device blew up the vehicle he was riding in, Army Sergeant First Class Alwyn Cashe returned to the burning vehicle, pulling out a soldier, then another, then another.

Ultimately he pulled six Americans and one national translator from the burning vehicle. Did I mention that his clothing was on fire as he removed each of the soldiers?

Sgt. Cashe is credited with saving the lives of six American soldiers. The national translator, working to free his people, died from the attack. Ten American soldiers were injured, seven seriously.

With 2nd and 3rd burns spread over 72% of his body, Sgt. Cashe died from his wounds a few weeks later.

America is so blessed that we keep finding men like Sergeant First Class Alwyn Cashe.

 

He was awarded the Silver Star. It took a while for the chain of command to fully understand the depth of his heroism. He will now finally get an even more appropriate award.

UPI reports on 11/11/20 that the Senate approved awarding Medal of Honor for Sgt. Alwyn Cashe.

Continue reading “On this Veterans Day, it is fitting and proper to honor the sacrifice of Sergeant Alwyn Cashe.”

747s, B-52s, and F-35Cs

747 cargo aircraft taking off from Denver airport on 8-22-20. Photo by James Ulvog.

Background articles on:

  • Jumbo jet that opened up international travel to the masses reaching end of production run
  • Background on why B-52 has been around for 50 years and will still be in service after other heavy bombers have long since retired
  • New F-35C deploying to the fleet

9/8/20 – Wall Street Journal – The Jumbo Jet Was the Pinnacle of Air Luxury – Now It’s Days Are Numbered – Boeing will shut its 747 production line in 2022 when the last of the already ordered freighters is completed. Airbus will close its A380 super jumbo line in 2021 when the last dozen planes are finished. The double-decker A380 was designed as the peer-to-peer competitor to the 747.

Article has lots of fun stats on both planes. I will provide some of the fun detail:

The 747 was the revolutionary jumbo jet. It opened up international travel to the masses. It was a major part of the rapid expansion in air travel.

The 747 debuted in 1969. The A380 in 2000 with first commercial flight in 2007.

747 cargo aircraft taking off from Denver airport. Photo by James Ulvog.

Over 50 years there have been 1,556 747s produced. Forecast for the A380 had been 1,200 planes but only 242 have been delivered.

Seating capacity:

Continue reading “747s, B-52s, and F-35Cs”

Oil production in North Dakota continues recovery in August 2020.

Parked wells west of Williston, ND in August 2020. Photo by James Ulvog.

As shown in the following graph, crude oil production increased again in August 2020. It is up 122,351 barrels of oil per day (bopd) over revised July amount, which follows a 148,343 bopd increase over June.

Continue reading “Oil production in North Dakota continues recovery in August 2020.”