November 16th, 2013
02:28 PM ET

Five ways to ruin an economy

For more What in the World watch Sundays at 10 a.m. & 1 p.m. ET on CNN

By Global Public Square staff

Some startling images caught our eye this week. A shopping free-for-all at a major electronics chain, the equivalent of America's Best Buy. People making off with flat-screen TVs…refrigerators…and more…all at bargain basement prices. No, it’s not the holidays yet. This is what happened when the government of Venezuela decided to play Robin Hood: the army took over the privately owned chain and slashed prices.

The incident got us thinking. We often talk about best practices for economies. Perhaps there should also be a list of things to avoid – a checklist titled ‘How to ruin your economy.’ Well, it so happens this isn't just a theoretical list, because Venezuela is actually ticking each of those boxes in practice.

So let's go to rule #1. Attack big business. That's exactly what we saw Venezuela do this week with "Daka" – the electronics chain. President Nicolas Maduro says that his opposition is in cahoots with Washington to bring down his economy. Apparently that's why TVs were so expensive. As we saw this week, there's an easy fix: Have the army take over. Sounds like a lasting solution.

That brings me to rule #2. Create hyperinflation. It turns out those TV salesmen in Venezuela aren't the only robbers. The truth is the overall price of goods has risen 54 percent in Venezuela this year. So, if your household groceries cost $100 a week in January, they'll now cost you $154. The ripple effect is clear. Prices go up, so salaries have to go up, and so anything you produce costs more. Mission accomplished, your economy is now less competitive.

More from CNN: Chavez gone, not forgotten

Rule #3. Induce a currency crisis. The easiest way to curb inflation is to increase the value of your currency. Basically, print less money. But it turns out Caracas actually has a cash crunch, so it actually needs to do the opposite. Meanwhile, the black market for American dollars is thriving. The official exchange rate is 6.3 Bolivars for every greenback. In reality, the black market rate is 7 to 10 times that amount. For a country which imports 70 percent of its basic goods, this is a big problem. You may remember recently that Venezuela ran out of toilet paper. Why? Well, it's running out of a different kind of paper – the money to pay for it.

Which brings me to rule #4. Subsidize, subsidize, subsidize. If Caracas is running out of money, thegovernment doesn't seem to know. Just last month, President Maduro raised public sector salaries by 10 percent across the board. This comes after two recent elections, where the government lavished subsidies to win votes. Gas is essentially free in Venezuela. In fact it's also nearly free in neighboring Cuba, which Venezuela has been subsidizing for years.

I could go on and on, but I'll point out just one more rule. Number #5, which is…Become a dictatorship. President Nicholas Maduro won a vote this week to get what is known as “decree powers” – the ability to pass laws without consulting Congress. He says he needs these powers to fix the economy and tackle corruption. After all, Venezuela is ranked 181st of 189 countries for doing business. It is ranked 9th for corruption. It took years for Hugo Chavez to take Venezuela to this point…and now Maduro wants to double down on the very same policies.

So, on points 1 through 5, Venezuela is on a fast-track to total ruin. The world saw this coming under Chavez. We hoped for change, but in his dying days Chavez handpicked a “mini-me” to stay the course. The sad truth is that Venezuela is wasting the world's largest oil reserves. It could have been as wealthy as Saudi Arabia or Qatar. It could have outstripped Mexico or Brazil. Instead, it is beginning to resemble North Korea, simply by following the most ruinous set of policies in the world.

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Topics: Economy • Venezuela • What in the World?

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soundoff (131 Responses)
  1. banasy©

    It sounds as if Venezuela is doing its utmost to ensure a dictatorship is in the its future.

    November 16, 2013 at 4:22 pm |
    • j. von hettlingen

      Maduro is no doubt power-hungry. As he doesn't have Chavez's charisma, he does everything to ingratiate with citizens, who are used to social largesse. These people don't care about the shape of their economy and its sustainability, they just want status quo. Both Maduro and his voters are to blame for Venezuela's manmade grievances.

      November 18, 2013 at 6:37 am |
    • Eduardo Abad

      You're almost right. Venezuelan dictatorship is in his PRESENT.

      November 18, 2013 at 12:25 pm |
  2. rightospeak

    1. Subsidize banks 'too big to fail " 2. Keep endless wars going 3. Offshore well paying jobs 4. Keep the borders open so the immigrants get the hospitals bankrupt. 5.Make sure people can not afford healthcare so that there is a vast pool of hungry to work for nothing. Sounds familiar ???
    Hyperinflation ? Coming soon to your neighborhood. I could go on and on .
    How about discussing our bankrupt economy instead of throwing stones at Venezuela ? Communism or socialist dictatorships are a means of the BIG Capital to destroy the little Capital under Big Capital management- it is all not what it seems.Carter paved the way to get rid of Somoza and install the Communists – some Human Rights agenda !

    November 16, 2013 at 4:44 pm |
    • ✠RZ✠

      Obama, who art in the White House,
      how Washington brings us to shame,
      By bombs and guns,
      Blowing things up to kingdom come,
      in Iraq, Libya, and Afghanistan.
      Take away our jobs and daily food stamps,
      and shoot us down if we trespass,
      but forgive those who trespass against us,
      Then lead us to economic death,
      at the command of the MIC's evil.
      For thine is the corruption,
      that comes with power and money,
      Though never forever,

      November 17, 2013 at 8:14 am |
      • Steve


        November 18, 2013 at 7:57 pm |
    • morris

      If you belive this is all a lie, "throwing stones at Venezuela2 you said.. come here, try to get family going with the mínimum salary or star a bussines with all this crazy laws that only make us more poor... Why Maduro needed special power to mak laws if he has mayority in the congress?? The true to all of this is that Vzla is BROKE and becouse there are elections coming in December, they can't give away free refrigerators as they used to, so they turn and took the money and goods of the private bussines

      November 18, 2013 at 9:52 am |
      • rightospeak

        I described the US, morris, and I let people in Venezuela worry about Venezuela. It makes me wonder why we ignore our own problems and worry about other countries so much.

        November 18, 2013 at 3:19 pm |
    • Yakobi

      How about staying on topic, which is Venezuela? Or is your hatred for America so strong you can't see anything else?

      November 18, 2013 at 5:36 pm |
      • rightospeak

        The topic was "five-ways -to-ruin an economy" , Yakob . You are the hateful one.When one loves one's country one needs to point out the wrongs in order to make it a better place to live, but it is probably over your head judging by your comment.

        November 18, 2013 at 7:36 pm |
    • JJ

      You are just stating the ways to ruin an economy by the capitalists way...The video just states the way to ruin it by the "communist" way...No matter how, we (venezuelans) are screwed...

      November 19, 2013 at 3:08 am |
    • luis

      you're supposed to throw stones at VZLA RTS... please ignore all domestic problems. God... you're sooo out of fashion !!

      January 15, 2014 at 12:19 am |
  3. Allan Kinsman

    Without integrity any system will fail. The free market or any government without the mechanisms of natural law will fail. The federal reserve is creating a bubble here when burst will find a dollar without value. Private business unchecked by themselves creates massive fraud which almost ruined the free market. The pursiut of greed without an eye on value creates a monitary policy which will fail on even a greater scale. Yet we argue over a health care law which even it's creators know little. We borrow money from foreign governments to fight wars foreign policies created. Yet the same parties slowly bankrupt the country and we never seem to change that which seems all to obvious.

    November 16, 2013 at 5:21 pm |
  4. chrissy

    Congress is little more than high end welfare recipients who are actually LESS productive than welfare recipients! At least they do the required filling out of their applications (books)! And parenting classes and whatever else they need to do! And the Congress we have now, only focus is making the POTUS look bad and destroy the US at all costs!

    November 17, 2013 at 12:24 am |
  5. rightospeak

    At least the people in Venezuela got TV sets at lower prices, cheap gasoline, money was spent on their healthcare and education. What did the Americans get ? The shaft.
    Horrible investigative "journalism" as to what actually happened with the nationalized company.

    November 17, 2013 at 11:01 am |
    • Funnybuthurts

      Can t you realize that it was all staged? The owner of Daka can barely get dollars to buy those products because the government has total control of who gets them and who doesnt. They ripped him off and made a show of it for propaganda reasons. And the story goes on and on... Have a little more sense when you write nonsense here

      November 17, 2013 at 1:38 pm |
      • Knowb4uspeak

        Daka owner received dollars via CADIVI at 6,3 Bs./$ but a TV that should cost 4999 Bs. was being sold for 15999 Bs. They had an earning percentage of an average of 1000% on all products, some getting to 2000 and even 3000%. Daka owner also is rumored to be pro-government and it looks like it may be a populist event, but nobody went broke. Lol, don't forget those businessmen think about everything. Daka owner has an ensurance, his pocket is safe.

        November 18, 2013 at 5:19 am |
      • Alberto

        there's no cadivi for electronics only for raw materials, food or medicine.... you better stop repeating what you heard, maybe they could get SICAD that is a bid that they could buy some $ at 20bs per $ (still the goverment control this so as we know if they want the aproval they probably had to pay ppl under the table to get it) ... they will aproved the amount they want not what is needed, beside that they compared the price with the Goverment stores and still was cheaper than them ... there's no excuses for this, if you want them out just create a competetion that force them lower their for the fuy who reply about the 6,3$

        November 18, 2013 at 3:17 pm |
      • jackie

        you are right. and they will do this to break everyone's back.that is the idea... the communist way to break the country... division...hate... ruin the economy... they don't care.. and sadly...the pueblo doesn't know...know history...take Cuba as a close example...again... the "just prices" precios justos...which the people scream for...have no idea what it takes to get the black market the steep import the National Guard..just to open the gate for you to get the merchandise out...of the aduana...and pay anyone else who decides it is "required". They are following the rule book...with the Raul as the President of Venezuela... so very sad to see..hear compadezco...que pena..que triste todo...

        November 19, 2013 at 12:12 am |
    • Miguel Guerrero

      You are completely wrong. You must not know much about Venezuela. There are elections coming up and that is why the government is doing everything they can to gain votes. Giving away things is a very short term practice that will come back to hunt the country in a few months. YOu don't know anything so SHUT it

      November 17, 2013 at 2:07 pm |
      • rightospeak

        Locos i ninos dicen la verdad, Miguel ?

        November 17, 2013 at 8:50 pm |
    • Ron Brydges

      There is a lot of spind in Fareed's commentaries on Venezuela. The financial state of Venezuela is far better than the U.S. and the people are reported to be the happiest in the Americas. Hard to beat.

      November 17, 2013 at 8:25 pm |
      • marksman230591

        You must be REALLY crazy if you think the financial state in Venezuela is better than the US. This is coming from an actual Venezuelan, by the way.

        November 18, 2013 at 12:32 am |
      • Zamfyel

        You must be crazy (coming also from an actual Venezuelan that has to leave his country to live a better life)
        Go live there and be poor in a matter of seconds.

        November 18, 2013 at 9:06 am |
      • Liz

        WOW! you don't know my country.

        November 18, 2013 at 1:54 pm |
      • Liz

        Where did you get this information from? Please do your homework!

        November 18, 2013 at 1:57 pm |
      • Yakobi

        And see what happens, Ron, when you say something bad about the government in Venezuela. Thanks to Hugo Chavez, it's the second most corrupt, dysfunctional government in the Americas (Cuba being #1).

        November 18, 2013 at 5:41 pm |
    • Alvaro Benavides

      money invested on hospitals? HAHAHAHAHAHAHAHAHAHA YEAH SURE

      November 17, 2013 at 9:05 pm |
    • Joe Jones

      Venezuela spending money on education and healthcare.... is that a joke? How bad informed you are about how things are going on there.

      November 18, 2013 at 9:39 am |
    • Eduardo Abad

      Every single word in this report is so clever that I've resend it to a lot of people. The few "good things" in Venezuela are just a fantasy created by means of government media power (the only one actually). The government's robbery is so huge that nobody can figure out. To say that Venezuelan s got good healthcare is maybe one of the biggest lies of them all. Venezuela get more than $ since Chavez start (no mistake): Inflation? 54%. Currency devaluation in 2013 only? more than 300% (no mistake). Minimum salary? 50$/month (no mistake). Please, please !!!

      November 18, 2013 at 12:24 pm |
    • Kenny Perdomo

      You have NO idea of what you are talking about. Investing in health and education? I am a medicine student in Venezuela so I DO know about the real situation. The universities had to go on a 6 months strike because there is NO MONEY, NOTHING to even pay our professors. They make a missery out of TEACHING and FORMING PROFESSIONALS in the best universities of the country.
      Investing in Health? Hospitals are on the edge of collapse. We dont have ANY medical supplies. We have to ask our patients to GO BUY the supplies and the medicines so we can treat them. Economy is going down at full speed. They are destroying every company that ACTUALLY WORKED to "give back to the people what's rightful theirs"? The people is SACKING everything under our great president's commands and those companies are now under the military's control. Everyday we are a huge step closer to become 21st century's Cuba. I'm sorry my friend, but first inform youself before comenting anything you don't really know about, People here won't thing twice about leaving to live in the U.S, even with all your "economic" problems. We are now the world's joke with our amaizing president being our first clown.

      November 18, 2013 at 12:29 pm |
    • Rafael

      I am Venezuelan and what is written in this report is actually pretty accurate. Don't you EVER dare to wish what we have here. Yeah, USA (not "America") has it's own problems and they are important to you too, but here the "free health care" SUCKS, there are no materials, Caracas' biggest morgue has a PILE of dead bodies (100 per weekend) and we have one of the highest murder rates IN THE WORLD. There are more assasinations here per year (15.000) than in China (30 million poeple here, 1343 million in China) and less than 10% get incarcerated for their crimes.

      I live in one of the most dangerous cities in the world, with the highest inflation in America, a very expensive city, etc.

      So, NEVER compare your country to mine. I wish we had USA problems and no the current problems of Venezuela.

      November 18, 2013 at 1:25 pm |
      • GnatB

        by the by, United States of AMERICA.

        If we're talking countries, "America" would be the correct shorthand for the United States of America. Just like Mexico is the generally used shorthand for the United Mexican States.

        If we're talking Continents, then it would be North or South America. If we're talking regions, then the two of them could be lumped together to be "The Americas".

        November 18, 2013 at 9:04 pm |
      • jackie

        good for you, Rafael....fortunately I do read some of the answers to all this.. and most have it right... those who don't...well, they have no idea... people in the USA live in a bubble...they have it sooo good..and they don't know it... but with theirs truly...who is/ an educated Chavez... some day ...maybe! the light will dawn on them...what we already know...situation frightening right now...que tenga suerte.. y tenga cuidado...cada vez que salga... gracias pues...buenas noches.

        November 19, 2013 at 12:20 am |
    • rightospeak

      It looks that way on TV and paid thralls by CNN are not going to change it by removing some of my comments and putting theirs in.

      November 18, 2013 at 3:21 pm |
      • Yakobi

        Good thing you learn everything you need to know from TV–I'm sure if you don't see it on Jon Stewart, it didn't happen.

        November 18, 2013 at 5:45 pm |
      • rightospeak

        Get off your hateful remarks, Yakobi. If you have nothing to contribute outside of telling people how to think , how you hate Hugo you better quit before someone will make a full out of you.

        November 18, 2013 at 7:42 pm |
  6. mike

    How does this differ from the US?
    lol... same path.

    November 17, 2013 at 11:16 am |
    • Rafael

      Hell no man, you have NO IDEA what you are talking about. I live in Caracas and this is HELL right now. At least you don't have inflation and your minimum wage can actually allow you to live. Here our minimum wage is 70$.

      November 18, 2013 at 1:27 pm |
    • marksman230591

      By "minimum wage" being $70, Rafael actually means $70 a month, NOT per hour. It's simply how we estimate our minimum wage here: by the month instead of by the hour

      November 19, 2013 at 1:23 am |
      • Rafael

        Exactly, my bad that i didn't specify that

        November 20, 2013 at 6:18 pm |
  7. Rey in Texas

    Fareed, you seem to have an even keel on most matters. My rant is the ( ACA ) that is on-going. The President, as you know is a master mind. Granted, its out there that he is distracted and uninvolved. He is involved on his number one agenda, more than anyone knows. He leads the GOP, like cows, to the grain bins and they eat and eat and eat. The GOP is concerned that individuals cannot get health insurance, PLEASE. The man, is way ahead of his time and they have no idea on how to bring him down. The media as well is baffled by his unassuming actions. 60 minutes has learned a hard lesson on what the President wants and doesn't want out there. The web site will be fixed when the President wants it fixed, not sooner. not later. It may be 30 Nov or even later. But, trust me, he knows exactly what he is doing even though us mere mortals don't really understand him. At the risk of sounding obsequious, you think somewhat like him. He dicho!

    November 17, 2013 at 11:28 am |
  8. Miguel Guerrero

    Hi, I am from venezuela and my family as well. You report was very good. It explained exactly what is happening in Venezuela. It was just excellent. Thank you

    November 17, 2013 at 2:04 pm |
    • rightospeak

      Locos i ninios dicen la verdad, Miguel ?

      November 17, 2013 at 8:53 pm |
    • Daniel Dennings

      Yes I´m sure that your family comes from the wealthiest that doesn´t live in the "barrios"... And thats the minority of your country

      November 18, 2013 at 2:06 pm |
      • JJ

        Is cusious how you say "the wealthiest" without considering that probably one of us (the "wealthiest" venezuelans) might have some of our family actually living in the "barrios", and as in all the people that live in the "barrios" are totally pro Maduro...If you probably ask a venezuelan about the economic situation in our country, all of them would say that is very bad, no matter how poor or rich he is.

        November 19, 2013 at 2:41 am |
  9. Reason

    If you dare to write the truth and challenge Fareed, CNN will block your postings.
    Do they have the right to use the public forum and deny freedom of speech? My blog did not contain profanity or foul language. Dies anyone know? Thanks for any feedback.

    November 17, 2013 at 2:26 pm |
    • ✠RZ✠

      Far as I know there are automatic programmed filters, automatic limitation filters, automatic timed filters, possibly some channel filters, some weird complete lock down mode, and there are indeed human moderators. If you stick to the context of the article and try to keep it short, you should get through almost all the time. How some spammers still get through regularly has led to some theories of internal access by the privileged personnel. Maybe true, but who really knows for sure.

      November 17, 2013 at 6:48 pm |
      • rightospeak

        Not true, RZ, based on my experience. Initially I thought it possible . At Reuters, when they drummed for war with Iran and I was against it , I was banned from comments. At NBC they made it difficult for me to comment because I fought their propaganda – Nuclear Power Plant article which they promoted was wrong and I pointed out that they can only be economically sound if subsidized by a government. I quoted sources and my comments were disappearing more than 5 times. What we have here is a monopolistic media shoveling down people's throats propaganda to benefit the big corporations, not the American people.

        November 17, 2013 at 8:42 pm |
    • rightospeak

      The Thought Police censors at CNN removed many of my comments , Reason , for over a year. It can be discouraging, but I was always a fighter so it just makes me more determined to point out the CNN propaganda. Eventually ,I just may move on like other people have done. No wonder some of the anchors ask to comment , because many who experienced censorship may just stop writing comments and stop watching CNN altogether sick of the lies.

      November 17, 2013 at 8:32 pm |
      • ✠RZ✠

        You are likely right about being target blocked, but I only know it's inconsistent at best. And the ability does exist to remove a comment once posted, but I've only seen that happen once so far, to our werty35346 buddy.

        November 18, 2013 at 12:28 am |
  10. chrissy

    Lol @ RZ, i just read your revision of the Lords prayer and i have to say: it was freaking awesome! And spot on. Whenever im having a bad day i just know to find one of your posts and my day gets remarkably better! Thank you lol.

    November 17, 2013 at 7:32 pm |
    • ✠RZ✠

      Always good to know someone gets the point, but one can't be too careful these days. I was actually worried a bit about being blasted for blaspheming, or if read backwards it might possibly say something insane, like "Congress loves you". It's so odd that we've been gazing peacefully in awe at the universe for millenniums, but if we might fail to make all the critical snap decisions for ourselves in everyday life it could cost us our first born. Man has to stop being his own worst enemy. Period.

      November 18, 2013 at 1:31 am |
  11. chrissy

    And @ reason, there is a specific person who has infested the TJI blog for a very long time, he hijacks ppls user names and trolls continuously. And it has been determined that the only way he is able to continue his childish rude behavior is because he MUST be employed here! Others have been banned for lesser things but he has yet to be banned! Oh did i mention his name? Lol silly me...its Jeffrey Grant Roem!

    November 17, 2013 at 7:40 pm |
  12. chrissy

    Hopefully @ reason, you will get the chance to read my post before el trollio JR deletes it. And anyone having doubts ask the blogger @ banasy, who is the first poster on this thread. She has had more experience with that little toad JR, then almost anyone blogging on cnn.

    November 17, 2013 at 7:50 pm |
  13. chrissy

    Agree @ rightospeak! As for "who really knows", well THAT would be the IT team that tracked the resident hijacker/troll that plagues cnn blogs, whose name ive already posted!!!

    November 17, 2013 at 9:11 pm |
  14. chrissy

    Lmao speak of the devil!

    November 17, 2013 at 9:14 pm |
  15. banasy©

    @chrissy, Congress released their schedule for next year. 113 days, 13 days less than this year.

    November 17, 2013 at 10:45 pm |
  16. chrissy

    Lmao @ banasy. I spose they need extra vacation time because they had to do some of their own fetching when they shut down the government and many lowly workers were on furlough! Tuckered their poor little selves out im bettin! Lol sheesh!

    November 17, 2013 at 10:50 pm |
  17. chrissy

    It is just absolutely shameful how little they work, and how much they get paid! Not to mention all the perks, kickbacks based on inside info, freebies for favors they recieve! Most of which may be illegal and if not illegal certainly unethical, they recieve! Time to really make a major transformation on the Congressional leaders and their entire process!

    November 17, 2013 at 10:57 pm |
  18. chrissy

    So in reality there is really only "one way to wreck an economy" and it is ~ Congress!

    November 17, 2013 at 11:02 pm |
  19. chrissy

    Sorry for the typo on my 10:57 post. Ie the duplicate "they recieve".

    November 17, 2013 at 11:04 pm |
  20. martin jude

    The one thing I find in common between Maduro and most failed leaders in the world, is that they build their platforms on populist ideologies. They are ready to swing right or left and do anything - say anything to please and placate the people –even if the economy is going to the dogs. Their main objective is to stay in power .... quite unlike the decent leaders who apologize for their mistakes and resign. The bottom line for these rogue leaders is to meet the people often, speak to them often, and lie,deny, twist, spin, and convince the people that all the negative news is due to the opposition, the biased media, and some imagined external enemy. These leaders have an extremely thick skin - that even defies the world's best pachydermists.

    November 17, 2013 at 11:41 pm |
  21. Randolph

    This article summarizes very well the situation in Venezuela. However, this article didn't even touch on the horrific crime situation. Venezuela is in the TOP FIVE IN THE WORLD for intentional homicide rate according to the government statistics. To give you an idea, half of my 2007 high school class have left the country to escape from this nightmare.

    November 18, 2013 at 3:55 am |
    • KP

      And the government makes you people slay each other...... right...... world over I say that the Governments we allow to represent us are but a reflection of our true selves, bite that!!

      November 19, 2013 at 5:57 am |
  22. mike

    Just imagine if those people would have bought gold.... they would have doubled their assets.

    November 18, 2013 at 6:21 am |
  23. Rick McDaniel

    We are very much, following in those footsteps, as Obama leads us to a socialist dictatorship in America.

    November 18, 2013 at 12:14 pm |
  24. santiago caracas

    Most of Venezuelans that comment here (even myself) come from the 1% wealthiest venezuelans, mind that!
    Poder para el pueblo mayoritario!!

    November 18, 2013 at 2:04 pm |
    • Robert Fujimoto

      Yeah Santiago, most of the wealthy post here because the rest of them don't have internet access or a PC to comment yet be able to spell and read. Too bad the poor or middle class don't comment here. Then they would realize just how bad their president is and quit voting for this POS and the Chavista movement. If they were smart enough to comment, maybe the country wouldn't be in such a bad situation. Another example of the one smart guy and the somewhat informed ruling over the uneducated poor population.Wolves watching the sheep!!!

      November 18, 2013 at 3:54 pm |
      • JJ

        And not only the poor people are tricked to believe in this "social focused government"...Some of the wealthiest are so narrow minded to believe that just because they have internet access and a good life standard (probably achieved by their parents years before Chavez, when you can actually had an opportunity to achieve something in life) every single action of this goverment in behalf of the poor ones is well done, when actually they are just robbing what is for all the venezuelans without any discrimination...

        November 19, 2013 at 2:57 am |
    • JJ

      Típico comentario fanático basado en la absoluta nada...

      November 19, 2013 at 3:04 am |
  25. Andreina

    I think you are forgetting this is not what "VENEZUELA" is doing. But actualy what it´s government is doing. What can people do to stop this? Maduro is doing whatever he wants and everyone is allowing it. It´s bad and no one seems to notice. I just hope VENEZUELA can get out of this before it reaches the #5

    November 18, 2013 at 3:37 pm |
  26. deep blue

    "President Maduro raised public sector salaries by 10 percent across the board"
    So, annual inflation rate is 50% , and the public sector gets a 10% pay raise? I think you could have found a better example.

    November 18, 2013 at 4:59 pm |
  27. joe

    Well they wont be able to afford food after they steal all the current groceries on the shelf but at least they will be able to watch each other starve to death on TV after the food runs out

    November 18, 2013 at 6:04 pm |
  28. Dean

    One sure way-----–Elect Obama.

    November 18, 2013 at 7:15 pm |
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