Posted on 12/03/2018 6:54:18 AM PST by C19fan
Venezuela is hiking the monthly minimum wage by 150 percent to about $9.50, President Nicolas Maduro said late on Thursday, as part of the struggling OPEC nation’s frequent wage increases that have failed to keep pace with inflation.
The once-wealthy nation’s annual inflation now tops 800,000 percent, according to the opposition-run legislature, and citizens face chronic shortages of food and medicine.
Maduro said in a televised broadcast that the new monthly salary would be 4,500 bolivars. Citizens routinely complain they cannot afford basic items despite a 60-fold minimum wage increase in August.
(Excerpt) Read more at reuters.com ...
ROFLMAO!!
Make it a 4,000,000,000,000 percent hike!!
Wow. Great idea. That will fix everything..
Does a cup of coffee still cost a million bucks?
Man, if only they would have thought of that sooner.
That’s the ticket! LOL!
Say goodbye to the jobs. What a mess.
The once-wealthy nation’s annual inflation now tops 800,000 percent
I don’t think 150% is gonna cut it.
And the money comes from where exactly? Remember those photo’s of Germans with wheelbarrows full of money that just maybe could buy a loaf of bread?
Reminds me of 1970s-era law in the Soviet Union proclaiming all Soviet citizens to be free. When people complained they weren’t free they were arrested for breaking the law.
Good luck not obeying the Laws of Supply and Demand. As to Cortez, I’m starting to wonder if she ever attended any college classes, not just econ.
They should order everyone to eat cake!
WOOHOO!! Let’s make the minimum wage a million bucks an hour and we’ll all be rich!
That won’t help. The currency has no value. It once had a value, and now doesn’t. Peoples’ life savings were wiped out.
The ruling elite is not hurting, tho. They are doing quite well. They are well taken care of while the ordinary people literally starve.
Let’s send every American professor and Democrat politician to Venezuela to experience the joys of socialism.
None of this will affect the thinking of a true socialist. Because they have two ready explanations:
1. Maduro is not really a socialist. So what’s happening in Venezuela means nothing.
or
2. Maduro is a socialist. But evil capitalists at home and abroad are thwarting his every move. So what’s happening in Venezuela means nothing.
(Explanation #2 is the one socialists usually used to defend Castro.)
Venezualans could end this today but they won’t.
“Well - you just pay for it...”
Wadda maroon.
Yes!
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