Army Storms Caracas Electronics Stores, Shoppers Follow

[Guest ajc]

Short article on the Venezuelan economy. Crazy stuff.

Greece sounds almost heavenly in comparison.

 

http://www.bloomberg.com/news/2013-11-11/army-storms-caracas-electronics-stores-shoppers-follow.html

 

The government-ordered military occupation of a Venezuelan electronics chain has brought out a reserve force in its wake: a line of shoppers that stretched for three blocks from a store in eastern Caracas today.

 

“You have to take advantage of the government regulations because it was too expensive to buy before,” said Maryorie Cacique, 33, as she stood in the line with her three children in hopes of getting a 90 percent discount on an air conditioner in the army-occupied Daka store.

 

President Nicolas Maduro on Nov. 8 ordered the military to enforce an order that the Daka chain reduce its prices to October levels. Maduro, who is overseeing annual inflation of 54 percent, the fastest pace in 16 years, said Daka was overcharging customers by as much as 1,200 percent. He said the government will review prices charged in other stores...

[JEast]

When you snub your nose at the global economic system and the rule of law, bad things will happen.  Now some folks love when governments fight ‘the man’ (e.g. Sean Penn and others), but those idealistic days are over in the age of Corporatocracy.

 

So Greece for their malfeasance lost 20-30% of their wealth, but the majority of the Venezuelans have lost nearly 95% of their wealth since the new regime and going to 99%.  Greece is indeed heaven in comparison.