Tuesday, May 29, 2007

When is a Dictator an Idiot?

When an idiot is Dictator. Or, when your name is Hugo Chavez:

Meanwhile, multiple sources around Caracas report that at a recent cabinet meeting, Chávez excoriated his ministers for disobeying his “orders” to stop inflation. Inflation has been spiraling as a result of Chávez’s reckless economic “policies” (if that is not too charitable a term). As a result, Chávez was moved to impose price controls in many categories of basic foodstuffs, which has predictably led to food shortages (despite huge oil windfalls) which has led to decrees obligating farmers and supermarkets to keep producing and selling, even if they incur losses.

Paints a picture of quite the econ whiz...

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