Venezuela has finally run out of other peoples’ money as their inflation hits one million percent. They have a Socialist answer for it though. They will simply chop off five zeros from their currency value and launch a state-backed cryptocurrency.
Remember when the left praised the Socialist country? Sean Penn would visit with other commie celebrities to tell Hugo Chavez how great his Socialist system is.
The New York Times was in awe, as Daily Signal reminds us.
“Since the [Hugo] Chávez government got control over the national oil industry, poverty has been cut by half, and extreme poverty by 70 percent,” wrote New York Times contributor Mark Weisbrot in the wake of socialist President Hugo Chavez’s re-election in 2012. “College enrollment has more than doubled, millions of people have access to health care for the first time and the number of people eligible for public pensions has quadrupled.”
They hit rock bottom in about five years.
Venezuela is an oil-rich country and was one of the richest countries in South America but then the people voted in socialism.
Now it’s a crime-infested Wild West. Ninety percent of the population is in poverty. Coffee costs 2 million Bolivars and the minimum wage is $1 a month. There roads are deteriorating, they have mass food shortages, foul water, failed electricity, and not enough medicine. Toilet paper and beer are luxuries few have.
The people scrounge through garbage for food and fish for pigeons for a meal.
The loons on The View and their idiot audience think we will be Sweden, not Venezuela with free everything.