While the media fawn over despots like Syria’s Bashar al-Assad and Venezuela’s Hugo Chavez, they rarely report on the horrors of life for most under such rule. With that in mind, it seems safe to assume that a current meat and sugar shortage in Venezuela that appears to be caused by government price controls is likely to go mostly unnoticed.
As reported by the Associated Press (emphasis mine throughout):
President Hugo Chavez's administration blames the food supply problems on unscrupulous speculators, but industry officials say government price controls that strangle profits are responsible. Authorities on Wednesday raided a warehouse in Caracas and seized seven tons of sugar hoarded by vendors unwilling to market the inventory at the official price.
Hmmm. Price controls and government intervention in the free market causes shortages and hyperinflation. You don’t expect to see that reported on the broadcast network news programs tonight, do you? Regardless, the article continued:
Shortages have sporadically appeared with items from milk to coffee since early 2003, when Chavez began regulating prices for 400 basic products as a way to counter inflation and protect the poor.
Yet inflation has soared to an accumulated 78 percent in the last four years in an economy awash in petrodollars, and food prices have increased particularly swiftly, creating a widening discrepancy between official prices and the true cost of getting goods to market in Venezuela.
"Shortages have increased significantly as well as violations of price controls," Central Bank director Domingo Maza Zavala told the Venezuelan broadcaster Union Radio on Thursday. "The difference between real market prices and controlled prices is very high."
Quite a lesson in capitalism’s benefits that would be marvelous if America’s media had the guts to share with the citizenry, dontcha think?
—Noel Sheppard is the Associate Editor of NewsBusters.
Editor at Large
Comments Policy
This is exactly will happen i
February 8, 2007 - 20:51 ET by ZoneDaiatlasThis is exactly will happen in the Health Care Industry if Hillary becomes President...
And you can bet that Hillary
February 8, 2007 - 23:22 ET by Scout FinchAnd you can bet that Hillary will cite Chavez as a 'forerunner' in the battle against obesity and diabetes with his new marketing policies.
scoutfinch...."hillary w
February 8, 2007 - 23:30 ET by ww thumperscoutfinch...."hillary will cite chaves..." that's because they are on the same side! v I AM PRO AMERICAN !=
PRO LIFE!= & PRO VICTORY ! v ww
Like 'one' is to 'two'.Tell m
February 8, 2007 - 23:54 ET by Scout FinchLike 'one' is to 'two'.
Tell me something I don't know.
Noel, I've talked here before about Venezuela's currency.
February 8, 2007 - 20:57 ET by acaiguanaNoel, I've talked here before about Venezuela's currency.
The economy is today on the brink of total collapse. The inflationary pressures are only showing up in the markets due to price controls. But the real issue is the controlled currency which has spawed quite a black market.
"Although officially pegged at 2,150 to the US dollar, the Venezuelan bolivar fell from 3,000 to 4,000 on the black market..."
From a January 10th TimesonLine article discussing the 19 percent fall in the Venezuelan stock market.
Like Mexico in the early 1980's, when Venezuela tries to support the bolivar it creates a staggering pressure for hard currency hoarding; capital flight and finally a complete meltdown in banking and commerce.
Chavez is no economist nor is he much of a capitalist. Venezuela will find it harder and harder to attract hard currency as his crazy policies go into effect.
What you will see are Venezuelans starving to death and the economy in total shambles sooner rather than later.
ACA
...
Hillary Clinton says: "I want to take those profits."
ACA
February 8, 2007 - 21:03 ET by Noel SheppardACA,
And, when the Venezuelan economy collapses, I guarantee that our media will figure out a way to blame it on America. ns
I notice my link above is broken. Here's the article.
February 8, 2007 - 21:09 ET by acaiguanaI notice my link above is broken. Here's the article.
ACA
...
Hillary Clinton says: "I want to take those profits."
Wind is out of the south here
February 8, 2007 - 21:08 ET by replayWind is out of the south here in New Orleans and I smell sulfur .
C'mon guys! You're missing
February 8, 2007 - 21:20 ET by Mean Gene Dr. LoveC'mon guys! You're missing the beauty in all this...nothing goes to waste!
That's why the Left doesn't bring up this subject. They think it's great. With shortages of meat and sugar, then nothing goes to waste. No sugar and no fatty meat to make people obese, they all become vegetarians.
And best of all they aren't making some cattle rancher or sugar cartel rich!
Notice that none of the Liberal/Socialist/Communist/Anti-Capitalists are leaving the U.S. in droves to go live in these places? I wonder why?
Gun Safety Tip #8: No matter how responsible he seems, never give your gun to a monkey. (www.imao.us)
Noel are you sure you want th
February 8, 2007 - 21:23 ET by jdhawkNoel are you sure you want the drive-by media to take this item on?
On August 21, 1991, NBC Nightly News comnmentator John Chancellor on the Soviet Union: "It's short of soap, so there are lice in the hospitals. It's short of snowsuits, so babies stay home in the winter. Sometimes it's short of cigarettes so millions of people stop smoking, involuntarily. It drives everybody crazy. The problem isn't communism; no one even talked about communism this week. The problem is shortages."
That's really funny jdhawk. About what I've come to expect.
February 8, 2007 - 21:29 ET by acaiguanaThat's really funny jdhawk. About what I've come to expect.
It's why I don't get involved in discussions with the MSM types about economic issues. They are like a box of rocks. They don't understand anything about economics, but they think they do.
It is ridiculous. Their arrogance is only overshadowed by their exuberience for bad reporting.
When one points out that they are making absolute fools out of themselves, they look at you like you were just picked off the turnip truck. One of my favorite answers I got from a MSMer was "You're just an economist. Anybody can come up with an economic analysis."
Needless to say I decided to watch the dust motes for the rest of the night.
ACA
...
Hillary Clinton says: "I want to take those profits."
Jimmy Carter
February 8, 2007 - 22:53 ET by Jerry MackHugo Chavezs economic advisor must be Jimmy Carter.
The great lesson of history
February 8, 2007 - 23:54 ET by PSOSThe great lesson of history is that its lessons are never learned. There's nothing anyone can do or say to prove to the left that socialism doesn't work. Citing history, facts, logic, and statistics is ultimately useless because they're living in a complete fantasy world where socialism is judged on its utopian ideals and its "noble" intentions, whereas capitalism is judged on its reality. In a contest between a daydream and reality, the latter cannot possibly win.
Here's the old list from th
February 9, 2007 - 00:26 ET by Mean Gene Dr. LoveHere's the old list from the Clinton years, interestingly it is still pretty accurate:
How to be a Democrat
1. You have to believe the AIDS virus is spread by a lack of federal funding.
2. You have to believe that the same teacher who can't teach 4th
graders how to read is somehow qualified to teach those same kids about
sex.
3. You have to believe that guns, in the hands of law- abiding
Americans, are more of a threat than U.S. nuclear weapons technology,
in the hands of Chinese communists.
4. You have to believe that there was no art before Federal funding.
5. You have to believe that global temperatures are less affected by
cyclical, documented changes in the earth's climate, and more affected
by yuppies driving SUVs.
6. You have to believe that gender roles are artificial but being homosexual is natural.
7. You have to be against capital punishment but support abortion on demand.
8. You have to believe that businesses create oppression and governments create prosperity.
9. You have to believe that hunters don't care about nature, but loony activists from Seattle do.
10. You have to believe that self-esteem is more important than actually doing something to earn it.
11. You have to believe the military, not corrupt politicians, start wars.
12. You have to believe the NRA is bad, because it supports certain
parts of the Constitution, while the ACLU is good, because it supports
certain parts of the Constitution.
13. You have to believe that taxes are too low, but ATM fees are too high.
14. You have to believe that Margaret Sanger and Gloria Steinem are
more important to American history than Thomas Jefferson, General
Robert E. Lee or Thomas Edison.
15. You have to believe that standardized tests are racist, but racial quotas and set-asides aren't.
16. You have to believe Hillary Clinton is really a lady.
17. You have to believe that the only reason socialism hasn't worked
anywhere it's been tried, is because the right people haven't been in
charge.
18. You have to believe Republicans telling the truth belong in jail, but a liar and sex offender belongs in the White House.
19. You have to believe that homosexual parades displaying drag,
transvestites and bestiality should be constitutionally protected and
manger scenes at Christmas should be illegal.
20. You have to believe that illegal Democratic party funding by the
Chinese is somehow in the best interest of the United States.
Gun Safety Tip #8: No matter how responsible he seems, never give your gun to a monkey. (www.imao.us)
Mean Gene --No fair
February 9, 2007 - 00:47 ET by misterbillMean Gene --No fair--I could not find one I agreed with. Curses!!!!!
Chavez will probably use forced collectivization
February 9, 2007 - 00:47 ET by Carl KolchakChavez will probably resort to forced collectivization as that is the means by which Communists have prefered to get their agricultural needs in the past sometimes.
http://www.loc.gov/exhibits/archives/coll.html
or checkout this quote from the below link.
"Certainly Mao’s rule was destructive. Tens of millions of Chinese died in the forced collectivization of the Great Leap Forward of 1958–59, victims of Mao’s willful utopianism and cruelty. Millions more died, and tens of millions had their lives ruined, during the Cultural Revolution of the 1960s. Practicing brinkmanship toward India, Taiwan, and the Soviet Union, Mao declared that a loss of hundreds of millions of Chinese in a nuclear war would be a setback China could readily digest. "
http://www.wilsoncenter.org/index.cfm?fuseaction=wq.essay&essay_id=202988
"There's blood in the streets, it's up to my ankles" 'Peace Frog'
Another fantastic job, Noel.H
February 9, 2007 - 00:55 ET by Chicago RepublicanAnother fantastic job, Noel.
Hey, you wanna go scale some rock next week? I'll make sandwhiches! Just don't invite anyone else like Tim Graham, just us ok?
Sorry, Seinfeld reference.
Let them drink oil!
February 9, 2007 - 01:06 ET by misterbillThe people have no sugar, no meat, no coffee! Let them drink oil! Perhaps that is what Marie Antoinette would say.
I've got to change my setting
February 9, 2007 - 04:26 ET by old croI've got to change my settings from reading the latest first, I'm starting to think sdrawkcab ;)
Maybe the concert for "Global Warmongering" mentioned above can help him out. I mean without global warmongering we would not have the strife and desolation we have now....and prices could be subsidized by raising money from global warmongering concerts....what......oh... it's global warming thier talking about.....ahhhhh......nevermind.
"No race can prosper until it learns there is as much dignity in tilling a field as in writing a poem."
Booker T. Washington
The MSM may notice the proble
February 9, 2007 - 07:20 ET by Dave RThe MSM may notice the problems in that unfortunate country, but they will only report it if they can somehow blame this country for them. I suspect Venezuela will get the full "Cuba treatment" as long as Chavez is in power.
After all, how often do we hear the DIMwits in the MSM touting Cuba's "free" healthcare system. Of course, the Cuban "healthcare system" consists mainly of a few dirty bandages, a couple of rusty needles parked in a drawer somewhere, and maybe even a smuggled-in box of dried out Band-Aids hidden in somebody's medicine cabinet, but none of that matters to the liberal media because its free.
I hate newspapermen.....I regard them as spies.....If I killed them all there would be news from Hell before breakfast. -Gen. William T. Sherman
His people may be starving,
February 9, 2007 - 08:10 ET by DontFeedTheTrollsHis people may be starving, but at least they die for a good cause.
D
Want your elected reps to know what you think? Go to http://www.congress.org/congressorg/home/, it's real easy.
This is outrageous. Hoarding
February 9, 2007 - 09:40 ET by moonjohnThis is outrageous. Hoarding the "People’s" sugar!
NO BLOOD FOR ETHANOL!!! (what
February 9, 2007 - 11:04 ET by RackieNO BLOOD FOR ETHANOL!!! (whatever)
...and they keep voting for t
February 9, 2007 - 11:22 ET by bigtimer...and they keep voting for this guy....with Carter's blessings.
Geez, he is really taken care of his people...just love that socialism/nationalism whatever name you want to insert...hows it working out for ya over there?
Yep, love how the press shows the virtues of this little problem...kinda reminds me of the coverage of Castro and Cuba.
They keep voting for him, but
February 10, 2007 - 11:33 ET by Lancasters Saved UsThey keep voting for him, but oddly have to give their fingerprints when doing so.
The only reason I have for reducing my carbon footprint is to drive down the price of oil to starve all the oil producing countries that are good for little else....except Alberta and Texas