Venezuela: A case study in bad socialist decisions

If you're a college student you need to know what I'm gonna show you here--and understand it, and internalize it.  Because if Democrats re-take control of the government (any more than the Obama holdovers in the Deep State already have), the same thing will happen here.

When socialists seized power in Venezuela the exchange rate was about six "bolivars" to one dollar.  Inflation was a manageable 4 percent.  But as the socialists piled one horrible policy and ghastly decision on top of another, things quickly went south.

Inflation began to increase sharply.  Soon a dozen eggs cost a month's salary.  "But don't worry, citizen: your socialist government can fix this easily:  We simply print more money.  Bingo!  Problem solved."

Uh...no.  As they printed literally trillions of bolivars in fresh new banknotes, with no increase in production of anything else, can you guess what happened?  Conservatives and STEM majors might be able to.  Democrats and "studies" majors?  Not a chance.

Answer?  Inflation went exponential.  Here's a summary:

You'll notice that when the graph was published--around April of 2015--the exchange rate had soared to about 420 bolivars to the dollar.  It's "black market" because the government had essentially banned citizens from buying dollars on the "official" market.  But with the brilliant cunning that always characterizes these thugs, the ban wasn't actually stated.  Instead, anyone could apply for a permit to exchange bolivars for dollars.  Of course only favored government officials ever actually GOT a permit.

Anyway, that was April of 2015.  420 bolivars to the dollar.

Those were the good old days.  Last month Venezuela's inflation rate was...87,000 percent.

Yesterday the exchange rate closed at 248,000 bolivars to the dollar.

"But...but...but...Venezuela doesn't have REAL socialism!  Our Democrat party leaders are way, way smahtah than president Maduro (pbuh), so they won't make the same mistakes he's made.  No, we won't tell you what those are, because reasons.  But we know, and our Democrat leaders won't do those things.  But we'll still give you free college, free health care, free housing, guaranteed income and free pre-school for everyone!  Yaaaay!"