A couple of instructive charts from Lars Christensen of the must-read blog The Market Monetarist that show what an economic disaster Huge Chavez inflicted on Venezuela. Christensen compares Venezuela against some of her “neoliberal” neighbors. The first is real GDP growth:
The next is inflation and for that you can check out his blog.
The mild May jobs report should serve as yet another reminder to President Obama and Congress that the U.S. labor market is suffering a Long Emergency.
Happy fourth anniversary, America. June 2009 marked the official end of the Great Recession - as reckoned by the National Bureau of Economic Research - and the beginning of the current recovery. So, how are we doing?
If the sluggish U.S. economy wasn’t reason enough for tax reform, the ongoing IRS scandal demonstrates how a devilishly complex tax code enables government mischief.
Misleading,GDP misses quality of life in a nation.Some nations with a growing GDP have a huge poverty problem.People in a true socialist society at least don’t have to go hungry.
The next chart shows the near-hyperinflation. That is always associated with misery and imminent collapse. So much for “quality of life” in Venezuela.