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More Great Information on Owner Hyper:
Failed Leaders With Failed Agendas Always Blame The Speculators (redstate)
"The Price Had Better Be Right."
> It’s worth noting that, although the President of the United States hasn’t
the power of Generalisimo Chavez, Pres. Obama’s attacks on speculators are
just as politically opportunistic and economically ignorant – and potentially
as destructive – as are any such attacks issued by Latin American dictators…
- Don Boudreaux, Café Hayek.
If anyone out there _still_ needed a primer on why a Government-Centered
Society was doomed to ineluctable failure, Hugo Chavez is conducting a seminar
in ineptitude out of Caracas. Hugo Chavez has decided to devalue his currency
in order to flood the Venezuelan State-Run oil company with revenue. He would
then “tax” these revenues in order to fund his social welfare apparatus which
has fueled his political viability.
Looking only at the revenue side of the equation makes this plan look like a
winner. The oil company gets more cash, Chavez gets more revenue. However, the
cash is held in the form of a deliberately devalued currency. By definition,
each individual unit must buy less in goods and services. Except that Hugo
Chavez doesn’t like that definition. He wants to have his cake and eat it too.
He doesn’t ...