Posted on 05/02/2014 6:35:22 AM PDT by Oldeconomybuyer
The president of Venezuela, Nicolas Maduro, announced a 30% increase in the minimum wage and pensions to protect Venezuelan people from an inflation that reaches an annual rate of almost 60 %.
“Now, on the occasion of May First, I have decided to increase the national minimum wage and pensions of 30 % to bring the salary and pension levels for a proper life demand of our people,” said the president in a meeting with union leaders in Caracas.
Maduro blames for the rising prices of consumer products to an “economic war” of enemies of the socialist government, and often lashes out against employers for alleged practices of price hikes , hoarding and speculation.
However, his critics say the endemic problem of inflation in Venezuela is proof of the failure of 15 years of socialist economic measures applied under the command of Maduro and before by his deceased predecessor Hugo Chavez.
(Excerpt) Read more at ecuadortimes.net ...
A view of our future.
” If they can roll themselves out of bed, they will have no problem outliving us when the starvation sets in.”
They will make delicious dinners for my dogs.
My son is engaged to a Venezuelan. They took a vacation there several months ago. She felt it would be the last time she could ever return. All the smart relatives have left years ago. The ones who remain blame the US for their problems. There was no butter or toilet paper in the stores. Foreign goods are outrageously priced. They hired a a guy with a boat. An 8 hour tour cost $100, including tip.
Evil capitalists that charge too much for the goods and services they provide, obviously. We need price controls too! Or better yet, nationalize all business to level the playing field. It works every time.
30% increase + 60% inflation = still falling 30% behind.
Or don’t they do math in Venezuela?
“Or don’t they do math in Venezuela?”
If leftists were good at math, they wouldn’t need Womyn’s studies and other liberal arts majors to help retards graduate college.
Hey! It worked for prewar Germany./sarc off
Ya but for those of us who travel there, it means an 8$ caramel macchiato at Starbucks! The HORROR!
with a 60& inflation rate that should fix it right up
This fool is yet another socialist idiot without a clue.
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