Couldn't happen to a nicer guy (HT: Jeff Temple). Well, it could. But he's in the top 20 or so.
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Couldn't happen to a nicer guy (HT: Jeff Temple). Well, it could. But he's in the top 20 or so.
Previous post: Law Ought Not be Centrally Planned
Next post: Zywicki on The Price of Everything
{ 11 comments }
Professor Roberts, I understand your feelings but my guess is that Chavez won't be the one suffering the effects.
Won't he nationalize those plants now? Isn't that usually what happens next?
Gee…I'm sure no-one saw THAT coming. Perhaps Chavez is not The Right Guy(TM) and Venuzuela should keep looking. Perhaps they will consider taking Barack Obama off our hands as he is certainly The One(TM) which is a substitute product for The Right Guy(TM).
Live by the cartel, die by the cartel. They aren't starving in Saudi Arabia.
Venuzuelans don't want Barack Obama, even Chavez recognized he is farther to the left than himself and Castro.
When you think of the suffering caused by these insane economic policies (oxymoron, I know), does it enrage you? I can hardly talk about socialists like Chavez without spitting on my hands and balling my fists. The capital and human potential squandered by this Mussolini-with-a-parrot is staggering.
Ahh, the marvels of a centrally-planned economy! People in the US should take note; your's next.
Headline fixed: Venezuela loses billions BECAUSE OF Chavez's controls".
"These controls have backfired with a vengeance — businessmen, companies and private citizens transferred some $72.7 billion out of Venezuela over the last six years — nearly double the outflow of the previous six years, according to the Central Bank — distorting the economy, fueling inflation and discouraging private investment."
A perfect illustration of a point that seems to be lost all too often; when you craft laws that are hostile to business, you have no right to be suprised when they stop doing business with you.
Russ-
And last week the Joint War Committee, which advises the global maritime insurance industry put Venezuela on its "high risk" list due to the risk of seizure of commercial assets. Chavez's Venezuela joins such hot spots as the Gulf of Aden and Somalia on the list. Now insurers can jack up premiums on ship owners that trade in Venezuelan waters and call at Venezuelan ports. Just another economic reality that is putting another small crack in the edifice of Chavismo.
re: PiperTom
My thoughts exactly. That headline jumped off the page at me; unfortunately, the AP doesn't provide email addresses for their writers as some services do.
I used to date a girl from Venezuela, how bad things are there is an under-reported story.