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Rafael Ramirez, former president of PDVSA, under investigation for corruption

Thursday, January 26, 2017

Why Venezuela's socialist meltdown COULD actually happen in the US

There’s a predictable checklist for meltdowns in socialist countries, and it’s playing out with tragic regularity in Venezuela. Nationalize agriculture? Check. Start government-enforced rationing when the food supply dries up? Check. Seal the border when people try to flee to buy food elsewhere? Check. The next step, and usually one of the last before total collapse, is runaway inflation. That’s what we’re starting to see in Venezuela.Rapid inflation, called hyperinflation by economists when it gets really bad, is one of the deadliest poisons for any economy. The spiral is usually triggered when a government prints too much money to pay its debts, and prices start to rise. More…

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