venezuela-empty-shelves-628x356 (1)

Suggested Sunday reading

Two great pieces from two friends-of-the-blog, both of them at Harvard University, both of them in Spanish. First off, Francisco Monaldi goes deep on hyperinflation in El Nacional. Francisco is lucid when discussing why this traumatic phenomenon occurs – governments basically print money out of control because they refuse to adjust to changing commodity prices. Oil producers, however,…

CEPAL VE UN 2014 "MEJOR" PARA AMÉRICA LATINA, PERO PIDE APUNTALAR LA EXPORTACIÓN

Alicia Bárcena’s blinders

The head of the UN’s Economic Commission for Latin America and the Caribbean (ECLAC), well-known chavista hack Alicia Bárcena, was in Caracas yesterday. While she was there, she praised Venezuela for “poverty reduction” and for fighting inequality. It’s too bad that Bárcena doesn’t read her own reports. As we wrote about months ago, her very own organization…

biv650

Lee and the BIV: Two deaths

The world is mourning the death of Lee Kuan Yew, the visionary yet controversial father of modern Singapore. We at home should also get ready to mourn the imminent passing of the Industrial Bank of Venezuela. Those two deaths have more in common than you think. The term “padre de la patria” is thrown around a lot,…