Our friend Hugo Chavez announced that he was making his countries currency (ironically called the "Strong Bolivar" worth half of what it was worth a few days ago compared to the dollar, in a late-Friday night devaluation. Of course, as a good dictator, he made the announcement by fiat, late on Friday and during baseball game so that people weren't paying much attention.
Now, Comrade Chavez says that this is to help the poor. How is this possible? If someone had $1000 worth of Bolivars to his or her name and now they're worth $500, do you think that helps a poor person??
And of course, in order to tighten his vice-grip on the next of his subjects, Tzar Chavez said he would dispatch the army to ensure that business don't raise prices, threatening to seize businesses who raised their prices in response to Chavez stealing half of their currency's value.Let me understand this - if I owned a store, and bought a bag of rice for $20 worth of Bolivars and was selling it for $40 worth of Bolivars on Thursday, and the Bolivars were cut in half in value, that destroys my entire profit margin. The socialist planned market is such a lovely thing, isn't it?
The worst part is that this thug was making nice with President OBAMA! a few months back; a sign of things to come, perhaps?
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