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 Post subject: Ain't Socialism Great?
PostPosted: Mon Aug 20, 2018 8:47 am 
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Joined: Mon Oct 18, 2010 7:27 am
Posts: 874
Location: Bear Mountain, Evergreen
In another episode of "Ain't Socialism Great?"- news from Venezuela..

"Venezuela Launches One of Greatest FX Devaluations in History"

Quote:
(Bloomberg) -- Venezuelan President Nicolas Maduro carried out one of the greatest currency devaluations in history over the weekend -- a 95 percent plunge that will test the capacity of an already beleaguered population to stomach even more pain.

One likely outcome is that inflation, which already was forecast to reach 1 million percent this year, will get fresh fuel from the measures. Prices are currently rising at an annualized rate of 108,000 percent, according to Bloomberg’s Café con Leche index. A massive exodus of Venezuelans fleeing the crisis to neighboring countries will likely increase and with it, tensions and restrictions like the ones seen over the past few days.


Prices rising at 108,000% per year. Wow- that's hard to even imagine! Inflation to reach 1 million percent this year.

Quote:
The official rate for the currency will go from about 285,000 per dollar to 6 million, a shock that officials tried to partly offset by raising the minimum wage 3,500 percent to the equivalent of just $30 a month.


Get out! all they can do is flee!!!
In other news... Alexandria Ocasio-Cortez wants the same socialist policies for America. You go Alexandria!

https://www.bloombergquint.com/global-economics/2018/08/19/venezuela-s-95-devaluation-adds-to-turmoil-after-drone-attack#gs.waTpfHA

_________________
"Corruptissima republica plurimae leges"(69 A.D.)

Socialism is a philosophy of failure, the creed of ignorance, and the Gospel of envy. Its inherent virtue is the distribution of equal misery Churchill

https://fcpp.org/2009/01/16/atlas-shrug ... -52-years/

Government is not the solution to our problem, Government is the problem
Ron Reagan


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