Venezuela: Robinhood or Thief
As the Venezuelan government insists it is working to mitigate its skyrocketing inflation, it doubles down its hostility for a free and fair market economy. Thursday the Venezuelan President Nicolas Maduro ordered the seizure of nearly 4 million toys from Kreisel, a distributor in Caracas, claiming the company has hoarded the toys to manipulate the market and sell at an illegally inflated rate above cost. Here’s Forbes challenge to the inane idea hoarding would be a moneymaker in an inflationary economy.
The President – and former bus driver – issued a mandate with complimentary signage to stores who have already purchased stock for their Christmas shelves to drop their prices by 30%. And, seemingly to ensure Kreisel’s bankruptcy, the government’s plan for the remanded toys is to sell them to the poor at a deeply discounted price.
“Boys and girls of the country will have a happy Christmas,” said William Contreras, Venezuela’s national superintendent for the defense of socioeconomic rights. He added, “We will guarantee a child” gets a present. – NPR
“Venezuela suffers the highest inflation in the world, estimated at 475 percent for 2016 by the IMF, and the currency lost 75 percent of its value against the so-called ‘black dollar’ since last September.”
As Venezuela strong arms the toy company essentially crippling it, as well as limiting distribution to the poor, the country’s economic response exemplifies why socialism kills by the ripple effect.
“In November alone, the bolivar, the Venezuelan currency, lost more than half its value. Shortages of food staples like rice, flour and chicken are commonplace and hospitals are critically short on medicines and medical supplies.”
The Miami-Herald relayed the South American country’s woeful trajectory.
“Venezuela, welcome to the record books,” said researchers at Johns Hopkins University as they added the country to their Hanke-Krus World Hyperinflation Table. “You have now entered the inglorious sphere of hyperinflation. It is a world of economic chaos, wrenching poverty and death. Its purveyors should be incarcerated, and the keys should be thrown away.”
Keisel has not responded to the expropriation of its property although it has taken to Twitter retweeting support from a concerned citizenry.
Today Tomorrow in History. 14 December 1799. Our first President George Washington died at the age of sixty-seven at his home in Mount Vernon, Virginia.
“I leave you with undefiled hands, an uncorrupted heart, and with ardent vows to heaven for the welfare and happiness of that country in which I and my forefathers to the third or fourth progenitor drew our first breath.” – George Washington, September 17, 1796, Farewell Address “To the People of the United States”
Washington was a faithful public servant up to his death. In 1798, the Quasi-War with France was escalating at sea, and it appeared an all-in war was imminent. His country needed him and as was his character and promise, when successor John Adams asked him to return to rebuild the military he accepted.
“Once more abandoning the peace and pleasures of retirement, so nobly merited, George Washington, Esq. has obeyed the call of his country, and accepted the appointment of Lieutenant-General and Commander-in-Chief of the armies of the United States, declaring he was ready again to go with his fellow citizens to the field of battle in defence of the liberty and independence of America.”
Washington’s consuming wish was to retire to Mount Vernon to tend to his plantation and local issues, however up ’til death, a complete withdraw from public life was not to be.
At 10 pm after a tragic use of contemporary medicine which included draining the “father of our country” of 40 percent of his blood, George Washington died in excruciating pain and humility, “I feel myself going. I thank you for your attentions; but, I pray you to take no more trouble about me. Let me go off quietly. I cannot last long.”
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