Comments on: A few economic tidbits from the revolution http://devilsexcrement.com/2009/04/26/economic-tidbits-from-the-revolution/ Observations focused on the problems of an underdeveloped country, Venezuela, with some serendipity about the world (orchids, techs, science, investments, politics) at large. A famous Venezuelan, Juan Pablo Perez Alfonzo, referred to oil as the devil's excrement. For countries, easy wealth appears indeed to be the sure path to failure. Venezuela might be a clear example of that. Mon, 28 May 2012 00:37:03 +0000 hourly 1 http://wordpress.com/ By: Deanna http://devilsexcrement.com/2009/04/26/economic-tidbits-from-the-revolution/#comment-396 Mon, 27 Apr 2009 11:29:41 +0000 http://devilsexcrement.com/?p=5849#comment-396 Well, I guess Venezuelans will just have to get used to using corn cobs like the good old days. Oh, sorry, corn cobs will also be scarce since corn is mostly imported!!!!

]]> By: island canuck http://devilsexcrement.com/2009/04/26/economic-tidbits-from-the-revolution/#comment-394 Mon, 27 Apr 2009 10:31:37 +0000 http://devilsexcrement.com/?p=5849#comment-394 I recently read that Cadivi is doling out US$2.5 billion a month.

The article stated that the demand is US$6.5 and recommended that businesses go to the swap market for the difference.

The problem is that the secondary market can not support the US$4 billion monthly.

That is why we are seeing a steady increase in the black market rate.
As the price goes higher we will see less & less imports.

Things that we take for granted in the market place will disappear. You mentioned paper products. Venezuela does not have a pulp & paper industry so it’s all imported. Many products are price controlled so the manufacurers will simply stop producing. Things like toilet paper & news print will just not be available.

A scary future.

]]> By: GeronL http://devilsexcrement.com/2009/04/26/economic-tidbits-from-the-revolution/#comment-387 Sun, 26 Apr 2009 19:28:53 +0000 http://devilsexcrement.com/?p=5849#comment-387 People who think that government can run an economy better than the public doesn’t understand what an economy is. Government is simply not an effficient means of production, distribution or anything else. It cannot make the decisions of millions of people for them, its simply impossible.

All of this was very predictable. It was predicted as a matter of fact by economic thinkers like Mises, Rothbard, Hayek, Hazlitt and such.

I just find it sad that we in the US now have a President of a similar, although possibly (hopefully) lighter persuasion. Time will tell.

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