capriles

El discurso que ha debido dar Capriles

After my harsh critique of Capriles’s economic policy speech yesterday, plenty of you wanted me to put up or shut up: if not that, what? In that spirit, here’s the speech Capriles should’ve given…and still could, if he has the guts.  La economía venezolana enfrenta la peor crisis de su historia. Es una crisis que toca…

HCR3-2

Worse than Wrong: Meaningless

Capping off a horrifically depressing news day, Henrique Capriles gave a “major speech” on economic policy today that barely merited the name. Capriles portrayed himself as presenting a short-term package of emergency economic recommendations, but the speech itself was so disjointed and incoherent it was hard to make heads or tails of what he was proposing.…

Freddy16

¡Sal de Ese Cuerpo, Pablo Medina!

Some very strange things are happening to Venezuelan political discourse. These days, our radical right-wingers sound more or less exactly like…Pablo Medina! Check out Freddy Guevara’s line on the $6 billion in debt the republic owes this year: “El planteamiento que hacemos es que se haga una auditoria pública a la deuda externa, tenemos que…

cash-on-the-street-1

The thing about having a really crazy economic policy framework

Economists love to go on and on about “relative price distortions” – one of those inexplicable pieces of jargon that normal people just can’t make sense of. In fact, it’s just a fancy way of saying “crazy prices.” Prices that bear no relation to what things are actually worth. Prices divorced from what people would…

Singling out gochos for adjustment.

Government does something not-crazy, scrambles to hide it

Did you hear? Venezuela raised gasoline prices yesterday. Not nationwide, of course: just locally, in areas near the Colombian border where gasoline smuggling had become completely rampant. Pumps nearest the border are now charging Bs.83 for a liter of gas, while pumps slightly further away are charging Bs.50. If you know anything about Venezuela you know there’s…