Cuba is standing at a precipice, teetering on the edge of what can only be described as a total collapse. My heart aches as I watch a nation that once held a romantic allure deteriorate into a landscape characterized by widespread blackouts and economic despair. Just three weeks ago, I returned from Cuba, a place that I have visited numerous times in the past fifteen years, and the drastic changes I observed were unsettling. It is not merely the infrastructure that crumbles; it is the very spirit of the Cuban people that seems to be under siege.
The pervasive blackouts have become a common, tragic echo in the lives of everyday Cubans, affecting their ability to work, live, and hope.… Continue reading
I was in Cuba this summer, staying at an all-inclusive hotel, and even there, I experienced rolling power outages, limited food options, and questionable water quality. It’s alarming to think that this is the reality for the average Cuban on a daily basis. It’s disheartening that Cuba’s deteriorating situation receives little media coverage, highlighting the struggles faced by millions in the country. The recent shutdown of schools and non-essential industries, coupled with widespread electricity shortages, paints a bleak picture of the state of affairs in Cuba.
The political system in Cuba is often characterized as a single-party authoritarian regime, where political opposition is not tolerated.… Continue reading
Russia’s Central Bank’s decision to raise interest rates to a whopping 19% is truly a testament to the dire economic situation that the country currently finds itself in. As inflation continues to tick up, the repercussions of Russia’s invasion of Ukraine are becoming more apparent, leading to a cascade of economic hardships that are beginning to take their toll.
The escalation of government debt, as well as personal and business debt, coupled with the loss of trading partners and dwindling economic prospects, has painted a bleak picture for Russia’s economy. The country’s reliance on high-interest bonds to raise funds, coupled with unsustainable sign-on bonuses for military recruits, is creating a financial house of cards that is teetering on the edge of collapse.… Continue reading
The government of Cuba has declared itself in a ‘war-time economy,’ a term usually reserved for extreme situations. What exactly does this mean for the people of Cuba? Well, the country ended 2023 with some alarming statistics – an inflation rate of 30%, a 2% contraction in the economy, and a depreciation of the Cuban currency by over 50% against major currencies like the dollar and euro in the informal market. This is definitely not a good sign.
Cuba is a communist country, so maybe this move is not entirely surprising. Being a command economy already, how can you really tell the difference when a ‘war-time economy’ is declared?… Continue reading
John Q. Hosedrinker