Venezuela has such insane inflation that iPhones cost $47,000

Venezuela is experiencing an economic crisis, and it is causing the price of everyday gadgets to skyrocket. It's so bad that, according to the official exchange rate, an iPhone 6 costs over $47,000, Bloomberg reports. The problem is twofold: There's a nationwide shortage of top-tier smartphones while inflation is reaching never-before-seen heights.The Venezuelan bolivar (the country's currency) has two "official exchange rates," 6.3 and 12 bolivars per dollar, that the government uses to calculate purchase prices for essentials such as medicine. More…