What's It Worth?
Hugo Chavez took control of this fine country approximately 10 years ago. Today his handiwork is clearly visible to all of those who will take the time to look.
Chavez wrested control from the people and immediately added sever restrictions to the entrepreneurial spirit of the populace. He then veered the country’s economy sharply to the left through government control of industry, massive government spending and price controls of virtually everything, including medicine.
Currently the country produces almost nothing( oil excepted) and imports are required for even the basic needs. The Venezuelan currency used to trade at 2.15 per dollar and at the present trades at 6.25 per dollar. Mr. Chavez’s answer to this economic disaster is to further devalue their currency and to suggest stimulus through more government spending.
Does any of this seem familiar? The comparison to our own inept administration is truly frightening!