March 22, 2013

THERE’S A LOT OF THAT GOING AROUND THESE DAYS: Venezuela Takes Desperate Measures to Put Off Day of Reckoning.

The Venezuelan government is making a frenzied effort to combat shortages of food and medicine. The FT reports that on Monday the country will begin auctioning off dollars to certain business in hopes of spurring them to import the basic goods it desperately needs. . . .

Venezuela’s economic woes are telling. Apologists for Chavez mentor Fidel Castro blame Cuba’s sixty years of economic problems on the US embargo. If it weren’t for Uncle Sam, they say, Castro would have built a socialist paradise by now.

Venezuela is the test for this talking point. Not only is there no US embargo in Venezuela, but the country also has huge oil reserves. And what does it have? Food and medicine and foreign currency shortages. A socialist paradise, indeed.

Who could have seen this coming? The Gods Of The Copybook Headings say, “Indeed.”