Posted on 01/09/2017 3:19:18 PM PST by NormsRevenge
Caracas (AFP) - Embattled President Nicolas Maduro on Sunday raised the minimum wage by 50 percent in Venezuela, a country with astronomical inflation.
Maduro said he was raising the minimum wage to 40 bolivars, about 60 dollars at the highest official exchange rate, or $12 on the black market.
"To get the year started, I have decided to raise the minimum wage," the president sad on his weekly show on state television.
...
Venezuela has been rocked by low prices for its key export, oil.
Now in its third year of a deep recession, it is facing severe shortages of food, medicine and basic household goods.
Maduro blames the crisis on a "capitalist conspiracy" backed by the United States.
(Excerpt) Read more at yahoo.com ...
Well, that’ll fix it. Now everyone can afford to buy stuff again.
That should fix everything.
Misers. Why not 150%?
Will Bernie Sanders be their next president?
He should have set it to 4 hundred Bolivars.
That way EVERYONE would be rich and the shortages just a bad dream.
60 bucks? Why not $1000/hour? Make venezuela great again! ;P
Wow. We should try that too. Then everybody would be rich!
[ Misers. Why not 150%? ]
You miss the point, it is a 50% raise until it starts working...
Venezuelan President Nicolas Maduro has been in power since 2013 (AFP Photo/)
Venezuela's President Nicolas Maduro (R) speaks with Venezuela's Defense Minister Vladimir Padrino Lopez, during his weekly broadcast "En contacto con Maduro" (In contact with Maduro) in Caracas, Venezuela July 12, 2016. Miraflores Palace/Handout via REUTERS
Socialists do what socialists do.
$12 a day or week or month or year.
It sure as Chavez ain’t per hour!
“Now in its third year of a deep recession, it is facing severe shortages of food, medicine and basic household goods. Maduro blames the crisis on a “capitalist conspiracy” backed by the United States.”
Interestingly, Obama and the Democrats basically use the same arguments and have the same solutions.
It’s a commie plot, I tell you.
Wage and price control today, poverty tomorrow.
The U.S. is following a third-world pattern with their idiotic minimum wage. America needs to rid itself of Leftist third-world mentality that follows the world.
Let’s be the leader of the free world once again by letting freedom rain. Let the rest of the world follow us, the best country in the world.
Hahahahahahaha! They could boost it to $100/hr and it still won’t buy anything.
Quick!
Throw some gasoline on that fire to put it out!
Sounds like he trying to buy off the most volatile segment of his populace.
That is what Ceausescu did right before he was overthrown.
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