Inflation Spikes in Venezuela
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  • cubanbob

    Unfortunately Chavez cleaned out the senior military commanders so it’s unlikely Maduro will suffer an Allende moment.

    • Pete


      • Tom

        Ehh. Pinochet may have done a lot for Chile’s economics, but the price was…high.
        Not to say that Marxists don’t end up doing worse for less results, but still. Let’s hope they can avoid a junta.

        • cubanbob

          The longer Chavismo lasts the worst things will get. A Pinochet now might be the least bad alternative.

          • Tom

            At least in the “viable alternatives” category. But I hope not.

  • Loader2000

    Is there anybody at all who thinks the experiment Venezuela is doing is a good thing? I mean, I know not all the commentators are conservative, but none of the more liberal ones have stepped forward to defend Venezuela. Does that mean universal consensus that they are crazy?

  • Andrew Allison

    “Like many leftist regimes before it, the Venezuela spends heavily on social welfare, stifles private industry and fixes its exchange rate so as to not reflect the true value of its currency. Meanwhile, the Central Bank pumps more currency into circulation to artificially maintain the rate of inflation.”
    Pot calling the kettle black?

  • Stupor Freaky

    Echoes of Allende… If and when Maduro crashes, burns, and suicides in the collapsing rubble, will we be cursed with 50 years of overly earnest nitwits blaming Obama and Kerry for the splatter marks?

  • ljgude

    I watched Mugabe do the same thing in Zimbabwe. There the inflation reached something approaching infinity. The most striking commonality is the faith this kind of ruler has that someone else is always to blame. And the inability to understand that infrastructure must be maintained if it is to remain productive. Chavez and his falling oil production arising from not understanding the necessity of maintaining the facilities. They don’t even get it that they are undermining the source of their own power. In Zimbabwe the most florid case I witnessed was when power was cut off to a friends mine. When he asked the state owned utility what the problem was he was told he hadn’t payed his bill. He didn’t argue, he immediately paid it again. Still no juice. It was then admitted that all the generators were broken. It turned out that the local office had to forward all the monthly receipts to the central government which paid only salaries back which included one ‘electrician’ armed with one screw driver. My friend solved the problem by buying a replacement generator and having his own electrician install it temporarily while he had the defunct ones repaired. He also had his electrician train the utility’s electrician how to avoid the problem.

  • Cory Atkin

    Boy, those third world Venezuelans aren’t terribly bright are they. Creating unsustainable entitlements, discouraging business creation and printing money hand over fist, you would think they would have learned more from watching how us first worlders do it..

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