As Chavez utterly destroys his nation’s economy, we get to watch the foreplay of the economic choices left to the US government.
Chavez Says He’ll Seize Businesses That Raise Prices
Jan. 10 (Bloomberg) — Venezuelan President Hugo Chavez said that businesses have no reason to raise prices following the devaluation of the bolivar and that the government will seize any entity that boosts its prices.
So a Venezuelan business man has two choices to avoid losing his business: close the doors or pray Chavez chooses him in receiving the billions in subsidies. Everyone knows Chavez is a brilliant economist and business leader who knows exactly what goods, when and how much will be wanted by his people!
And you know what? At this point in the Venezuelan economy is the best its going to be for the foreseeable future – its accelerating down hill from here.
And these are the guys the USA depends on for a huge percentage of its oil supplies….
…and to add to their woes – they have only 4 months of electricity unless they severely cut back consumption or it rains.
Unsaid in the report is that it is estimated that nearly 40% of the electricity is ‘stolen’ by the shanty town around Caracas – where the people climb up the poles and string un-metered lines back down into their homes. I’ve driven into Caracas at night – and it is beautiful as the lights run up the mountain side (where the shanty’s are built) like sea of bright stars…When it rains…err, doesn’t rain, it pours…. or something like that