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Caribbean-Latin America
Venezuela annual inflation rate hits 30 percent
2010-05-09
Ay-Pee . . .
The country imports most of its food, and Chavez on Friday announced the government will create an import-export corporation aiming to break with the private sector's "hegemony." It wasn't immediately clear how the new state entity would operate.
"Sire, the natives are restless!"

"Dream up some way for me to take over a large part of the economy and tell them it's for their own good. That should keep their small minds occupied."

"They'll never fall for it!"

"If it worked for Obamacare, it'll work here. People are people."

Chavez said wealthy Venezuelans involved in the import business "buy abroad, come here and ask for more than it really costs."
That's why people do it. Not out of the goodness of their hearts. Of course, Venezuela's full of people with good hearts because they're socialist now. Or maybe he'll just wait until they're hungry.
Posted by:gorb

#4  Wizard of Id Quip

Rodney: "Sire, the peasants are revolting!"

King: "What else is new?"
Posted by: borgboy   2010-05-09 19:50  

#3  Do they add in house prices to keep the numbers down?

In the US it's the obverse. Home prices are specifically kept out of the CPI and that is how the US government cooks the books on inflation.
Posted by: badanov   2010-05-09 11:42  

#2  I believe it was 2% in March alone...(according to the gummit). At that rate it's 24% per year. It's going up, it has to. They've borrowed mountains of money and the only way out is to devalue the stuff. It's the old 40 year inflation ponzi cycle on steroids.
Posted by: Besoeker   2010-05-09 08:21  

#1  I don't think ours is 30% (yet), but it sure seems a lot higher than the published numbers. Do they add in house prices to keep the numbers down?
Posted by: Glenmore   2010-05-09 08:13  

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