Socialist Venezuela is enjoying 510% Inflation

[YellowSnow51]

The Foundation for Economic Education reports that Venezuela’s bolivar is collapsing and its annual implied inflation rate has soared to 510%:

Using black-market exchange rate data that The Johns Hopkins-Cato Institute Troubled Currencies Project has collected over the past year, I estimate Venezuela’s current annual implied inflation rate to be 510%. This is the highest rate in the world. It’s well above the second-highest rate: Syria’s, which stands at 84%.

This follows on the heels of the Cato Institute's report in April that Venezuela had "truly achieved socialism": "shortages, queues, black markets, and official theft."

Mission accomplished.

http://www.truthrevolt.org/news/venezuela-hits-510-inflation

 

[22*43*51]

 

[hawkeye54545]

GWB 's fault

 

[txhawk I]

Don't get Bernie mad.

 

[SalAunese]

Bernie is a kook

 

[lucas80]

I don't agree with Socialism, but, Venezuela is actually a dictatorship, and not practicing true Socialism.

 

[iammrhawkeyes]

I don't agree with Socialism, but, Venezuela is actually a dictatorship, and not practicing true Socialism.

LOL. I was waiting for someone to post this.

 

[KitingHigh]

I don't agree with Socialism, but, Venezuela is actually a dictatorship, and not practicing true Socialism.

The two are not mutually exclusive. They are quite commonly paired.

 

[HawkMD]

I don't agree with Socialism, but, Venezuela is actually a dictatorship, and not practicing true Socialism.

The US does not practice true Democracy either

 

[22*43*51]

The US does not practice true Democracy either

No. It's intended to be a Republic.

However, we do practice true Socialism in spots. Like Indian Reservations.

Amish Colonies would be another example, but unlike Indian reservations the collective has private property ownership and has to work for what they share.

 

[86Hawkeye]

Bernie is a kook

And a wannabe rapist.

 

[hawkeye54545]

At least Bernie is old so he and his socialist ways won't be around too much longer.

 

[aflachawk]

No. It's intended to be a Republic.

However, we do practice true Socialism in spots. Like Indian Reservations.

Amish Colonies would be another example, but unlike Indian reservations the collective has private property ownership and has to work for what they share.

And before gambling came along the reservations were a mess also which further proves Socialism does not work

 

[Timschoh]

Bernie is a kook

I think that's implied with his party affiliation