Venezuela Heading Down the Path of Zimbabwe

This is totally unsurprising because one can ignore the laws of economics all one wants to, but one cannot escape them. Apparently the Venezuelan central bank is turning to “alternative means” to finance its disaster of an economy. Meanwhile, rather than blow through most of its dollar reserves, it is trying to put one over on Brazil by borrowing money from them. Good luck getting paid back, unless oil goes to $120 a barrel again.

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This entry was posted in chavez, economics, venezuela. Bookmark the permalink.

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