What do you get when you mix price controls, production quotas, and a totalitarian regime? Venezuela and socialism. But that’s not real socialism.
The oil-rich Latin American nation is suffering from the worst case of hyperinflation since Zimbabwe of a decade ago. It’s so bad that Venezuela’s annual inflation rate topped 46,000 percent. If you annualize the last three months, then inflation has soared more than 482,000 percent.
Food inflation has also skyrocketed, accelerating by 183 percent in June.
Even if you get your hands on some food, your money won’t be able to buy anything. Like the Marxist Zimbabwe, one million bolivars is about 28 to 30 cents.
The situation is worsening with the federal government seizing the control of water, nationalizing the bread industry, and taking over the oil fields.
And Senator Bernie Sanders (I-VT), Sean Penn, and the left still believe Venezuela is a model of success?
Socialists hate facts, it destroys their lies /propaganda about the “wonderfulness” of their ideology. IT is incumbent on every American who still believes in the Constitutional form of governance to make these facts known to combat the propaganda.