Discussion 1 Replies.docx - CatherineExcellent point in the...

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Catherine- Excellent point in the economic well-being of a country being a happier country overall. You see many countries that are considered third world countries suffer because of the lack economic growth or how a country like Venezuela can go from rich to suffering because of government ways. Venezuela is not the only Latin American country to face economic growth or downturn. Since Brazil devalued its currency in 1999, Latin American companies have found refinancing their debt more and more difficult. The collapse of the Argentine economy, together with political and economic crises in Colombia, Ecuador and Venezuela, have elevated the level of perceived investment risk in Latin America to the highest level since the regional debt crisis of the 1980s. At the same time, the continuing global recession has adversely affected the international credit markets, making lenders reluctant to engage in new money lending transactions except with the most creditworthy borrowers (Darrow, 2003). I grew up in Ecuador and saw first had how they went from their local currency (Sucre) to American dollar as the standard currency to this day still. “Whoever oppresses the poor to increase his own wealth, or gives to the rich, will only come to poverty.” (Proverbs 22:16, English Standard Version) This in particular is how Venezuela played out to where it became a Socialist state and now their country is worse off.

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