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Sri Lanka's currency crisis

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Posted By: PageTurner, 4/19/2022 11:43:12 AM

Sri Lanka, an island nation of 22 million people, is in the grips of an economic meltdown. This slow-motion train wreck first began in November 2019 when Gotabaya Rajapaksa won a decisive victory in the country’s presidential elections. He immediately placed family members into key government positions and suspended Parliament. Then in August 2020, his Sri Lanka Podujana Peramuna party — the Sri Lanka People’s Front — posted a landslide victory. The win gave Rajapaksa the ability to amend the country’s constitution, which he quickly availed himself of. In total control, President Rajapaksa and his brother Mahinda, the prime minister, went on a spending spree

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Joe Biden gets his pointers from these guys.

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Reply 1 - Posted by: Anti_democRAT 4/19/2022 12:24:23 PM (No. 1132528)
I could care less about sri lanka when here at home our economy is melting down and our government is spending borrowed money all over the globe to and on foreign derelicts.
11 people like this.

Reply 2 - Posted by: gop_guys 4/19/2022 12:27:25 PM (No. 1132530)
There is a soon coming day of reckoning on the US dollar as well. Advice to my fellow L’dotters; have diversification. 4 areas are of ownership are of critical importance; real estate, precious metals, some fiat (to pay bills) some stocks. Oops, forgot brass!
4 people like this.

Reply 3 - Posted by: DVC 4/19/2022 1:49:25 PM (No. 1132587)
So, another dictator takes over a dysfunctional third world nation. You can vote your way into a Communist but you'll have to shoot your way out. Communists always collapse the economy, it's because 100% of what they "know" about economics is fantasy without any bearing on the real world.
10 people like this.

Reply 4 - Posted by: bad-hair 4/19/2022 4:58:00 PM (No. 1132743)
Sort of like Canada all packed in to Nova Scotia. They'll be lined up at the Southern border next month.
0 people like this.

Reply 5 - Posted by: MDConservative 4/19/2022 7:18:46 PM (No. 1132850)
People forget that the "golden number" for inflation in the US is just over 3 percent. It's all baked into the currency systems...and then it gets out of hand.
0 people like this.

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Sri Lanka's currency crisis 5 replies
Posted by PageTurner 4/19/2022 11:43:12 AM Post Reply
Sri Lanka, an island nation of 22 million people, is in the grips of an economic meltdown. This slow-motion train wreck first began in November 2019 when Gotabaya Rajapaksa won a decisive victory in the country’s presidential elections. He immediately placed family members into key government positions and suspended Parliament. Then in August 2020, his Sri Lanka Podujana Peramuna party — the Sri Lanka People’s Front — posted a landslide victory. The win gave Rajapaksa the ability to amend the country’s constitution, which he quickly availed himself of. In total control, President Rajapaksa and his brother Mahinda, the prime minister, went on a spending spree
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