The Inconvenient Truth of Socialism

February 17, 2007 at 2:22 pm (clinton, conyers, edwards, hillary, kucinich, liberal, matsui, McDermott, murtha, pelosi, politics, sanchez, sanders, Uncategorized, waters, waxman, woolsey)

Socialist President Hugo Chavez announced Thursday that a new currency will be introduced into the Venezuelan money supply next year to combat inflation.

Inflation ended at 17 percent last year — the highest rate in Latin America. The exchange rate of the bolivar has been fixed by the socialist government since 2003 at 2,150 bolivars to $1, its black-market value has been trading at 4,000 bolivars to the US dollar.

This is a prime example of failed socialist policy. An incompetent populist wins office, the people suffer. 

Chavez, Clinton, 


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