Oh yes, this will work, won’t it?

Venezuela’s Congress grants Nicolas Maduro power to rule by decree
Decree powers will strengthen the embattled leader’s hand as he goes after businesses the government accuses of sabotaging Latin America’s biggest oil economy

In an economy completely fucked over by erratic and arbitrary government they’re giving more power to an erratic and arbitrary former bus driver.

That’ll work just great.

a severely distorted economy with embarrassing product shortages and inflation surging to nearly 55 percent.

Hmm

One is intended to limit businesses’ profit margins to 15 per cent to 30 per cent as part of a state “economic offensive” against price-gouging.

What’s the betting there won’t be an inflation adjustment to those allowable margins?

At which point, of course, all private enterprise shuts down. Well done that man.

13 thoughts on “Oh yes, this will work, won’t it?”

  1. To be fair to Maduro, as a former bus driver he is unlike many other leaders of nations (the Camoron, the Community Organiser in Chief etc.) in having actually had a real actual job before he gets to run the country.

  2. I’m looking forward to it, as an example of how the policies of Murphy, Jones, Reed and all the other Guardian/Compass luminaries inevitably lead to utter ruin for any society foolish enough to adopt them.

  3. is that net or gross margin. If the former then plenty of businesses are making out like bandits, If the latter some inherently high gross margin businesses are in trouble.

  4. Van_Patten
    November 20, 2013 at 12:09 pm

    I’m looking forward to it, as an example of how the policies of Murphy, Jones, Reed and all the other Guardian/Compass luminaries inevitably lead to utter ruin for any society foolish enough to adopt them.

    When it fails we’ll get the standard lefty responses:

    1. It was sabotaged by the evil capitalists
    2. It was failed by the great Satan in the north (USA).
    3. Socialism has never really be tried.

  5. Luis

    Net margin of 30% when prices are rising at 55% means that firms net working capital requirements are going through the roof.

  6. Matthew L: destructor or saboteador. I’ll have to think further on how to translate “lickspittle running dogs of the fascist revanchist paper tiger counter-revolutionaries”.

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