Chavez orders National Guard to stop price rises

Reuters ^ | 10 January 2010

[Lorianne]

* Firms that raise prices will be handed over to workers

* Announces $1 bln fund to promote import substitution

Venezuela's Hugo Chavez ordered soldiers to seek out businesses that raise prices after a sharp devaluation of the bolivar currency last week, saying he will expropriate firms that engage in price gouging.

Chavez also created a $1 billion fund to jump-start the recession-hit, oil-reliant economy before elections in September when the opposition hopes to strip him of a parliamentary majority.

"Right now, there is absolutely no reason for anybody to be raising prices of absolutely anything," Chavez said on his weekly TV show, two days after announcing a dual exchange system for the weakened currency, which had been on a fixed exchange rate.

"I want the National Guard on the streets with the people to fight against speculation," Chavez said. "Publicly denounce the speculator and we will intervene in any business of any size."

[Lorianne]

Well then, that should solve everything.

[GonzoGOP]

Here is looking forward to a lot of empty shelves and a thriving black market. Price controls don’t work Hugo. Never have, never will.

[Brilliant]

Chavez is headed to the graveyard of history.

[hinckley buzzard]

Yep, following the usual socialist script for disaster. Massive shortages are next, followed by insurrection and violent suppression. Guess they just need some obama-money, right democrats?

[PGR88]

This chump Chavez is following the same path to poverty and failure that has been followed by every communist country that ever existed. It’s like clockwork. I guess Marx truly was a scientist!

[y6162]

“Chavez is headed to the graveyard of history.”

The Kenyan is taking notes.

[dynachrome]

“before elections in September when the opposition hopes to strip him of a parliamentary majority.”

Oh, I am sure ‘ol hugo will find an emergency that will cancel the election.

[mylife]

This guy is certifiable. LoL

[VeniVidiVici]

This sounds like something Obama and the Democrats will try.

[Zack Attack]

Another year and you may just replace “Chavez” with a particular presidents name in that title.

[truthguy]

Chavez is headed to the graveyard of history.

Let's hope so. He's destroyed Venezuela. Venezuela had a lot of potential but his brand of socialism destroyed this. He has done so much damage it will take decades to repair.

But the real problem lies in those who support him. He's still enormously popular with the uneducated lower classes. These people do not understand how wealth is created. If not for oil, Venezuela would be in worse shape.

Now that Chavez has discovered that his brand of economics doesn't work, he will increase the compulsion to make it work. Things will get awful for the Venezuelan people.

I hope Americans can learn something from this but I'm skeptical. We have our own Chavez light here in the form of Obama.

[donhunt]

He should be trying the global warming scam like Al. That would justify everything.
Maybe he’ll listen to Mugabee’s advice.

[omega4179]

Sounds like 0’s war on free markets.

[mmanager]

“This sounds like something Obama and the Democrats will try.”

They ARE trying!

[JPG]

Hey, Hugo, how's that revolution thing working out for ya?

[screaminsunshine]

He is competing with Haiti. He figures no one will invade because it is so bad no one would want to nation build there. Socialism is a race to the bottom.

[driftdiver]

The only question is how many people will he take with him.

[NotSoModerate]

Chavez is a god to libs. They all dream of doing what Chavez is doing.

[DallasDeb]

Socialism works REALLLLL well, doesn’t it?