Like Humidity in New Orleans….

by Don Boudreaux on February 8, 2007

in Economics, Politics, Reality Is Not Optional

The world, it is trite to say, is unpredictable.  Indeed so.

But there are exceptions to this rule.  There is a sizable handful of predictions that I would bet my pension will prove accurate at least 99 out of 100 times.  I predict, for example, that next year every football team that wins a big game will feature a gigantic lineman dumping the contents of a Gator Aid cooler over the happy head of the team’s Head Coach….  I predict that every American politician seeking office will claim to know what "the American people" want and that he or she is most trustworthy champion of that collective desire…. I predict that Paul Krugman’s next New York Times column will self-righteously accuse the Bush administration or "conservatives" of evil-intentions and evil-doings….  And I predict that every political strongman will blame "speculators" for many of the  economic ills that befall the citizen-victims of their countries.

And lo!  Lookie here!

Meat cuts vanished from Venezuelan supermarkets this week, leaving
only unsavory bits like chicken feet, while costly artificial
sweeteners have increasingly replaced sugar, and many staples sell far
above government-fixed prices. 

Hugo Chavez’s administration blames the food supply problems on
unscrupulous speculators, but industry officials say government price
controls that strangle profits are responsible.

The above is from this report filed today by an AP reporter in Caracas.

(Hat tip to Cafe commentor Aschkan.)

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Russell Nelson February 9, 2007 at 3:05 am

I used to decry speculation … before I understood that speculators exist to bring future value into the present and sell (or buy) it now rather than later.

Robert Coté February 9, 2007 at 12:34 pm

We need a Chavez every generation or so. Without their examples creeping socialism makes inroads in otherwise rational economies.

bbartlog February 9, 2007 at 2:49 pm

It seems to make inroads anyway. Examples aren't lacking. And it would be a vast improvement if examples occured only every generation instead of in an endless ongoing pageant of stupidity and misery…

True_Liberal February 9, 2007 at 8:10 pm

Venezuela is #144 on this list:

Dr. Williams this week correlates this list with global poverty.

Sudha Shenoy February 10, 2007 at 7:47 am

What wimps the Chavez govt are! Public executions — that's the remedy! 'Govt is the power to beat your enemies into submission' — well go ahead: hit 'em!!

rmark February 12, 2007 at 12:12 pm

I noticed Zimbabawe made price increases illegal, in the face of 1000% inflation.

prison break wallpapers July 10, 2008 at 10:15 am

thank u for sharing this

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