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Chávez Threatens to Jail Price Control Violators
New York Times ^

Posted on 02/17/2007 9:44:10 AM PST by WBL 1952

Faced with an accelerating inflation rate and shortages of basic foods like beef, chicken and milk, President Hugo Chávez has threatened to jail grocery store owners and nationalize their businesses if they violate the country’s expanding price controls.

Food producers and economists say the measures announced late Thursday night, which include removing three zeroes from the denomination of Venezuela’s currency, are likely to backfire and generate even more acute shortages and higher prices for consumers. Inflation climbed to an annual rate of 18.4 percent a year in January, the highest in Latin America and far above the official target of 10 to 12 percent.

(Excerpt) Read more at nytimes.com ...


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Another Cuba in the making.
1 posted on 02/17/2007 9:44:11 AM PST by WBL 1952
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To: WBL 1952

The definition of insanity (and socialism): Doing the same thing over and over and expecting different results.


2 posted on 02/17/2007 9:46:47 AM PST by inkling (exurbanleague.com)
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To: WBL 1952

Last week on El Gordo y La Flaca someone said, 'Hugito Chavez es la primera dama de Cuba." (Chavez is the first lady of Cuba) and everyone fell down laughing, including me.


3 posted on 02/17/2007 9:47:09 AM PST by 3AngelaD (ic.)
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To: WBL 1952

This is almost fun watching.


4 posted on 02/17/2007 9:47:26 AM PST by Dog Gone
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To: WBL 1952

Understatment of the day: "There seems to be a basic misunderstanding in Chávez’s government of what is driving scarcity and inflation,” said Francisco Rodríguez, a former chief economist at Venezuela’s National Assembly who teaches at Wesleyan University.


5 posted on 02/17/2007 9:49:01 AM PST by 3AngelaD (ic.)
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To: WBL 1952

Eventually, El Gordo's fiscal irresponsibility, not limited to selling Venezuela's major export at below market rates for the sole purpose of tweaking W, will be his ruin.


6 posted on 02/17/2007 9:49:05 AM PST by sono (There are only two exit strategies - One is victory, the other defeat - Joe Lieberman)
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To: Dog Gone

I like the move where he took Zeros off of the Money denominations to fight inflation.


7 posted on 02/17/2007 9:50:48 AM PST by Anti-Bubba182
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To: All

I would suspect Hugo is soon going to find himself hanging upside down in the street like a Mussolini.


8 posted on 02/17/2007 9:51:19 AM PST by WBL 1952
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To: sono

El Gordo (Raul de Molina) lives in Miami and has a daily TV show on Univision. Chavez no es "El Gordo," es El Malvado Estupido.


9 posted on 02/17/2007 9:51:30 AM PST by 3AngelaD (ic.)
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To: WBL 1952
No, more like another Robert Mugabe and Zimbabwe with the inflation they are having. The only thing keeping that entire nation afloat is the oil, and when oil prices drop then that place will become the festering crotch of the entire Continent.
10 posted on 02/17/2007 9:52:01 AM PST by Abathar (Proudly catching hell for posting without reading the article since 2004)
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To: WBL 1952
Another Cuba in the making.

But Fidel only had cigars. This guy has oil. I don't understand how things could be spiraling out of control this fast down there.

ML/NJ

11 posted on 02/17/2007 9:54:02 AM PST by ml/nj
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To: WBL 1952

Since communism is against the free market and human nature the government must become oppressive to force people to follow communist dictates.


12 posted on 02/17/2007 9:54:53 AM PST by Leftism is Mentally Deranged
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To: Dog Gone

It is mind boggling to watch.

How does he expect grocers to sell below cost?

The man is insane.


13 posted on 02/17/2007 9:56:00 AM PST by patton (Sanctimony frequently reaps its own reward.)
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To: Anti-Bubba182
I like the move where he took Zeros off of the Money denominations to fight inflation.

It's right up there with Gerald Ford's WIN buttons. (I actually have about a dozen of them in mint condition).

14 posted on 02/17/2007 9:56:03 AM PST by Dog Gone
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To: patton
How does he expect grocers to sell below cost?

Of course he knows they won't. He wants them to give up their businesses to the government.

15 posted on 02/17/2007 9:57:28 AM PST by dfwgator (The University of Florida - Championship U)
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To: WBL 1952

so it's either obey strict price control laws OR be nationalized? i'm failing to see the difference.


16 posted on 02/17/2007 9:57:33 AM PST by mmmRamen (i could use a clever tagline)
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To: WBL 1952

Or Zimbabwe...


17 posted on 02/17/2007 9:58:21 AM PST by Virginia Ridgerunner ("Si vis pacem para bellum")
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To: patton

The grocers won't sell at below cost. They'll just quit having that particular product.

Chavez will eventually learn, but I don't think he's on the edge of becoming sane yet.


18 posted on 02/17/2007 10:00:24 AM PST by Dog Gone
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To: WBL 1952

But Cindy Sheehan told us that the people of the world looooove him in her little retarded-child voice. Maybe Cindy Sheehan just wants to have his love-child.


19 posted on 02/17/2007 10:01:33 AM PST by MichiganConservative (Mary Carey 2008! It is time for better boobs in DC.)
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To: WBL 1952

Well, they had the guy and didn't kill him.


20 posted on 02/17/2007 10:02:52 AM PST by Larry Lucido
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