Monday, June 1, 2015

Winning With Socialism: Venezuela Hits 510% Inflation, Worst In The World


But hey, let’s elect Progressives that want to take us there…

[Why Not? We already pay them over $200K a year to peddle time release lobotomies as 'medical treatment' after denouncing other people - to the State - as thought criminals.]

The Foundation for Economic Education reports that Venezuela’s bolivar is collapsing and its annual implied inflation rate has soared to 510%:
Using black-market exchange rate data that The Johns Hopkins-Cato Institute Troubled Currencies Project has collected over the past year, I estimate Venezuela’s current annual implied inflation rate to be 510%. This is the highest rate in the world. It’s well above the second-highest rate: Syria’s, which stands at 84%.
This follows on the heels of the Cato Institute’s report in April that Venezuela had “truly achieved socialism”: “shortages, queues, black markets, and official theft.”
Mission accomplished.
Thank You Truth Revolt and Nick. 

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