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Venezuela Moves to Cap Prices. Dumb Move.

By JLP | November 12, 2013

This is just comical to me.

Venezuela Moves to Cap Prices, Profits

The cause for the inflation?

“The amount of bolĂ­vares in circulation rose 70% over the past year, a clear sign the government is printing ever larger amounts of money to stoke a slowing economy.”

So, the government floods the economy with new money, prices rise, and the government moves to cap prices. Pretty crazy, isn’t it?

Topics: Economics | 2 Comments »

2 Responses to “Venezuela Moves to Cap Prices. Dumb Move.”

  1. greg Says:
    November 12th, 2013 at 6:56 pm

    Gee, just like Zimbabwe….I guess I hope that OUR government is watching. And paying attention. No, I’m still sure our situation is different, BUT I also don’t think it is different enough.

  2. Sam Says:
    December 2nd, 2013 at 9:29 pm

    i feel sorry for Venezuelans that are having their lives destroyed by this madness, but I don’t have much hope that things will turn around. It seems more likely that Venezuela will follow Zimbabwe, Argentina, Cuba, etc. into an economic meltdown. Seems like people never learn.