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realclearworld

Car Carnival in Caracastan: Maduro commands all car dealers to cut prices

maduro

Yes, Cubanization is speeding up in Caracastan, and the carnival is only getting started.

Watch out for a Fast and Furious crash of the Venenozuelan economy, sometime soon.

Or keep your eye open for half price bargains, Castro-style.

half price

AFP - Venezuela President Nicolas Maduro is to decree new regulations on car prices, as part of the special powers conferred on him to combat so-called "economic war" and corruption.

Maduro said the measure, the details of which will be announced Monday, aimed to protect the middle class from the "speculation of the bourgeoisie."

Last August, complaints over car prices soaring by up to 28 times prompted the National Assembly to pass a law regulating the buying and selling of cars, among other items vulnerable to "speculation, hoarding and predatory loans."

The president has already used his new powers -- conferred on him the the National Assembly for one year -- to order lower rents for commercial spaces and barred property owners from asking for payments in foreign currency.

He imposed price controls and capped profit margins at 30 percent, and has vowed to arrest shopkeepers who violate his rules.

This latest salvo comes just days before Maduro is set to face a key test of political strength on December 8, when municipal elections will take place in the midst of a burgeoning economic crisis.

It will be the first elections since Maduro succeeded his political mentor, late leader Hugo Chavez, in April elections whose tight results the opposition has refused to recognize.

Continue reading HERE.

1 comment to Car Carnival in Caracastan: Maduro commands all car dealers to cut prices

  • Gallardo

    Venezuela, do you want a drink and fries with your Socialismo del Siglo XXI? What do you mean you don't want anything anymore? You wanted to come this far did you not? It is too late for that, I told you long ago that it was no more than communism with a new package and you, being stupid and ignorant, wanted to believe what you wanted to believe.

    Damn right it tastes like shit, because it is shit. You had 50 years to see it in my country, didn't you? I tell you, there is nothing else in the menu anymore and you might as well get a drink with it before that too becomes a scarce commodity - and don't you dare tell me again "that can't happen here"...