It is instructive for Americans to see what is going on down in Venezuela with their utterly Socialist President Nicolás Maduro and his vow to seize businesses and force prices so low they are below the point of profitability. President Maduro has also arrested company executives and has engaged in government sponsored looting of a major electronics retail chain, all in the name of "fairness."
Where have we heard that term before?
Venezuela is suffering through a 59% annual inflation rate as Maduro's regime tweaks the economy into a disaster while minimum wage increases went up by 45% last year. And from May 2013 to January 2014 the minimum wage has increased a whopping 59%. Venezuela's Socialist dictator gets his power from the ironically named Law of Costs and Fair Prices.
Does that sound like anyone you know? Maybe that would be an American president?
Read more below from El Universal:
Venezuelan President Nicolás Maduro set Monday, February 12, as deadline for companies to abide by the Law on Costs and Fair Prices.
“We will expropriate whatever needs to be expropriated,” Venezuelan President Nicolás Maduro cautioned in reference to the new Law of Costs and Fair Prices.
Concomitantly, the president urged private companies to comply with the new law. His statements came during the commemoration of the coup attempt of February 4, 1992.
The Venezuelan president threatened to take “the most radical measures to protect our people’s economy.”
“I make an appeal to the country economic sectors, for work and self-regulation of commodities and prices. You have time until next Monday; otherwise, I will take the most radical measures,” Maduro specified.
“I am determined to make an economic revolution. Nobody, nothing will stop me!” he said.
Yea, that sounds even more like Barack Obama.
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