Venezuela’s Maduro keeps trying to resolve his country’s problems by doing more of the same thing. Case in point, he just raised the minimum wage again by 275%.
As with all socialist governments, which the Democrat candidates are trying to force on us, Maduro took the third wealthiest country in the hemisphere and made it into one of the poorest.
This is the third hike this year in the face of runaway inflation.
Despite the increase, the new 150,000 bolivars wage barely amounts to enough to buy four kilos of meat. Annual inflation in Venezuela is currently running at around 50,100%, according to figures produced by the opposition-led National Assembly. The government does not provide data on price rises. According to Bloomberg’s Cafe Con Leche Index inflation is running at 19,900% annually. Inflation pulverized the vale of the previous minimum wage: 40,000 bolivars amounts to around 2 dollars at the official FX rate.
This lunatic needs to go back to driving a bus.
I am happy to share a moment with my working-class brothers, your work on the Caracas Plan “Together Everything is Possible” brightens up our beautiful city. Keep going! With your effort we’ll build the beautiful & prosperous Venezuela we dream of. A Hug! pic.twitter.com/gP5IyurhiF
— Nicolás Maduro (@maduro_en) October 16, 2019
His opponent for the presidency, Juan Guaido talks about the disaster that is socialism.
When I asked @jguaido – whom the US recognizes as President of #Venezuela what Americans don’t understand about #socialism …he points to the DEVASTATING effects it has had on his country. No water, no food, no electricity. THAT is the reality of socialism in Venezuela. pic.twitter.com/NrQcgJyt50
— Trish Regan (@trish_regan) October 16, 2019
The fact is that once people accept socialism and it’s in place, it’s impossible to get rid of it. In fact, this madman wants to be on the UN’s Human Rights Council. Hopefully, contender Costa Rico will get the spot.
— Prof. Steve Hanke (@steve_hanke) October 16, 2019