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 countrys expanding price controls.
Food producers and economists say the measures announced late Thursday night, which include removing three zeroes from the denomination of Venezuelas 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 ...
The definition of insanity (and socialism): Doing the same thing over and over and expecting different results.
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.
This is almost fun watching.
Understatment of the day: "There seems to be a basic misunderstanding in Chávezs government of what is driving scarcity and inflation, said Francisco Rodríguez, a former chief economist at Venezuelas National Assembly who teaches at Wesleyan University.
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.
I like the move where he took Zeros off of the Money denominations to fight inflation.
I would suspect Hugo is soon going to find himself hanging upside down in the street like a Mussolini.
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.
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
Since communism is against the free market and human nature the government must become oppressive to force people to follow communist dictates.
It is mind boggling to watch.
How does he expect grocers to sell below cost?
The man is insane.
It's right up there with Gerald Ford's WIN buttons. (I actually have about a dozen of them in mint condition).
Of course he knows they won't. He wants them to give up their businesses to the government.
so it's either obey strict price control laws OR be nationalized? i'm failing to see the difference.
Or Zimbabwe...
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.
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.
Well, they had the guy and didn't kill him.
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