Venezuela's Response To Inflation - Just Confiscate All The Money

The level of skill on display in the Bolivarian socialists' management of the Venezuelan economy is, as has been remarked around here before, quite something to behold. Not, needless to say, a sharp intake of breath at the wondrous skill with which they manage it. Rather, somewhere between tears and laughter as they continue to make near every economic mistake known to man. This is, recall, the tropical country, ideal for sugar growing, which ran out of Coca Cola from an absence of sugar. The middle income oil exporter that ran out of Big Macs from an absence of a baker who could make the middle layer of the roll. The place whose currency has slumped 50% over the past month, where inflation is expected to be over 2,000% this year. The oil producer which imports crude from the USA. More…