Venezuela Spins Further Out of Control; Wallet Full Of Money Not Enough

Venezuela is a nation spinning out of control. With the oil-dependent economy down as much as the price of oil in 2014, the nation’s economic central planners, ignoring core free market supply and demand principles, took center stage.

Price controls that attempted to force businesses to sell products at a loss didn’t work. The communist nation then went on a mad hunt for paper to print as much currency as possible while citizens were reported raiding the local zoo to kill animals for food and dogs walking in the street were on the dinner menu. The crime-ridden nation is now experiencing inflation so out of control that a standard wallet no longer is big enough to hold enough...