Venezuela sliding into anarchy

[Onkel Neal]

Every day it gets worse for the South American country.

Paying for even the most trivial of purchases requires carrying around huge, Pablo Escobar-style stacks of bank notes. A Coke, if you can find it, will set you back 1,200 bolivars — 12 of the biggest bills. Lunch at a simple restaurant? At least 40 of those bills. Even a subsidized school lunch costs you at least 20 top-denomination bills. You can see how the numbers get out of hand fast.

It wasn't long ago that many were applauding the leadership of this country.

When a country goes socialist and it craters, it is laughed off as a harmless and forgettable cautionary tale about the perils of command economics. When, by contrast, a country goes socialist and its economy does what Venezuela’s did, it is not perceived to be a laughing matter – and it is not so easy to write off or to ignore. It suddenly looks like a threat to the corporate capitalism, especially when said country has valuable oil resources that global powerhouses like the United States rely on.

http://www.salon.com/2013/03/06/hugo...nomic_miracle/

Not so much of a threat now.