Saturday, March 24, 2018

Socialism and Zeroes

As I said in these two posts about hyperinflation, you have real economic problems if you have a lot of zeroes on your currency.  Venezuela is in deep economic peril, and their solution is not very creative:
Venezuela's hyperinflation is driving the government loony-tunes. That's the only explanation I can think of for why the government of Nicolás Maduro has decided to lop off three zeroes from its currency, the bolivar, to fight, he says, "economic persecution" from Columbia.
Standing in line to buy nonexistent products with worthless currency.  Ain't socialism grand?

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