Things in Venezuela keep getting worse and worse under the incredible incompetence of
Nicolás Maduro, Venezuela’s President.
The two-year sovereign yield for Venezuela is now over 250%!
According to Professor Steve Hanke at Cato, Venezuela’s inflation rate hit 7,459% as of March 14, 2018.
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And here is the Venezuelan yield curve on the day Maduro took power (yellow) compared to today (green).
Well done, Nicolás! … NOT!!!!!!!!!!!!!!
Bernie Sanders: “These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina, where incomes are actually more equal today than they are in the land of Horatio Alger.”
At least Bernie didn’t say “Staggering inflation and insanely high interest rates are more apt to be realized in Venezuela than in the land of Horatio Alger.” But then he would have been correct!
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