Something that we might ask Young Owen to explain. Or any of the other fools who praised Bolivarian socialism along the way like Mark Weisbrot. Why has the economy of the place subject to this new and incisive form of socialism fallen apart?
In short, what the hell happened here?
Venezuela's annual inflation rate is 4651%, a new record high. pic.twitter.com/K2MD2WBRr4
— Prof. Steve Hanke (@steve_hanke) December 21, 2017
Answers on a postcard to Momentum.
Don’t you know you should plot inflation as a log graph? Plotting it linearly is a neoliberal western plot to overexaggerate the minor hiccups in the progress to utopia.
http://www.dailymail.co.uk/news/article-5374501/Mass-exodus-thousands-Venezuelans-flee-country.html
Postcards *from* Momentum would note the inflation rate went crazy from August ’17, thus proving that it’s all due to Yankeeee imperialism; and also that Worstall wos wrong:
https://www.forbes.com/sites/timworstall/2017/08/26/us-imposes-more-sanctions-on-venezuela-politics-yes-little-economic-effect-expected/#3dc7687c7074
Not my postcards, you understand…