Time for sanctions

Despite the bleak economic forecasts, Maduro so far has stubbornly opposed taking even the one step that experts believe could correct the problem. “A massive devaluation would perhaps be the only solution, but they are against that,” Jorge Salazar Carrillo, professor of economics at Florida International University in Miami, observed. “They are handling the economy as if they were in kindergarten,” he added, scornfully. Since the most desirable solution — the election of new Venezuelan leadership — seems unlikely, sanctions appear to be Washington’s most effective tool at this time. More…