Thursday, June 10, 2010

An economic debacle picture is worth a 1000 word treatise

Believe it or not, the government published this graph among the diverse excuses it published to justify the end of the swap market [including the lapsus (?) of 4,3 instead of the "official" 2.6.  I suppose it would not have been as aesthetically looking at 2.6...]. And yet, as an indictment of how the Venezuelan economy went awry as oil went down and spending went it up, it cannot be matched.... No comments needed.  Received in my mail box a few minutes ago.


  1. 1. Why you should let your currency float and not have fixed exchange rates.

    2. The VEF appears to headed into the toilet. I just hope that it is following the path of the ZWR.


    Electrical rationing suspended for now. One day before the World Cup. Days after the rationing was prolonged for another 6 months by decree. Shamelessness defined.

    P.S. For those who doesn't know what is a Hail Mary Pass is, here is an introduction by Wikipedia:

    Man, that graphic is mind-blowing...

  3. Boludo Tejano11:35 PM

    It would be good to also track inflation with the the parallel market dollar. With that "quibble" stated, it is an informative graph.


Comments policy:

1) Comments are moderated after the third day of publication. It may take up to a day or two for your note to appear then.

2) Your post will appear if you follow the following rules. I will be ruthless in erasing any comment that do not follow these rules, as well as those who replied to that off rule comment.

Do not be repetitive.
Do not bring grudges and fights from other blogs here (this is the strictest rule).
This is an anti Chavez blog, with more than 95% anti Chavez readers that have made up their minds long ago. Thus trying to prove us wrong is considered a troll. Still, you are welcome as a chavista to post,> in particular if you want to explain us coherently as to why chavismo does this or that. We are still waiting for that to happen once.
Insults and put downs are frowned upon and I will be sole judge on whether to publish them.