Venezuela

Feeling the “Bern” in Venezuela

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So how is that “Free” thing working out for you in the Socialist Utopia of Venezuela?

From YahooNews, “Venezuela, where a hamburger is officially $170“.

Caracas (AFP) – If a visitor to Venezuela is unfortunate enough to pay for anything with a foreign credit card, the eye-watering cost might suggest they were in a city pricier than Tokyo or Zurich.

Bernie_Sanders_Breadlines_2016A hamburger sold for 1,700 Venezuelan bolivares is $170, or a 69,000-bolivar hotel room is $6,900 a night, based on the official rate of 10 bolivares for $1.

But of course no merchant is pricing at the official rate imposed under currency controls. It’s the black market rate of 1,000 bolivares per dollar that’s applied.

But for Venezuelans paid in hyperinflation-hit bolivares, and living in an economy relying on mostly imported goods or raw materials, conditions Bernie_Sanders_Hollywood_Foolsare unthinkably expensive.

Even for the middle class, most of it sliding into poverty, hamburgers and hotels are out-of-reach excesses.

“Everybody is knocked low,” Michael Leal, a 34-year-old manager of an eyewear store in Caracas, told AFP. “We can’t breathe.”

– Shuttered stores –

Bernie-omics Shuts Down Nation

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The nation of Venezuela discovers that Bernie Sanders style socialism is a dry hole, a “duster“, when it comes to delivering goods and services.

From Bloomberg, “Venezuela to Shut Down for a Week to Cope With Electricity Crisis“.

Venezuela is shutting down for a week as the government struggles with a deepening electricity crisis.

Bernie_Sanders_Venezula_Socialism_coolPresident Nicolas Maduro gave everyone an extra three days off work next week, extending the two-day Easter holiday, according to a statement in the Official Gazette published late Tuesday.

The government has rationed electricity and water supplies across the country for months and urged citizens to avoid waste as Venezuela endures a prolonged drought that has slashed output at hydroelectric dams. The ruling socialists have blamed the shortage on the El Nino weather phenomena and “sabotage” by their political foes, while critics cite a lack of maintenance and poor planning.