Displaying items by tag: economic despair

Lebanon has failed again to form a new government. President Michel Aoun wants help from other countries to overcome the deadlock. There is economic despair as political instability drives the currency down. As the currency dips further, the minimum wage sinks below that of third-world countries. It is unbelievable how little people are earning now. They are stuck in a vicious circle, with no end in sight. Each time the currency loses value, prices go up, and people can buy fewer daily essentials. A bottle of milk was 3,000 Lebanese lira, now it’s 8,000. But that same bottle of milk bought with US dollars is less than 50 cents. It becomes ¼ of the price for people with dollars, but the poor people pay over double the price. As the crisis worsens, people have nowhere to put their hope, so they are starting to put their hope in Christ.