Venezuela’s Maduro accuses 99 percent of businesses of “price gouging,” vows to punish more “capitalist parasites”

posted at 6:31 pm on November 30, 2013 by Erika Johnsen

Venezuela’s nationwide municipal elections are just over a week away, and Nicolas Maduro — Hugo Chavez’s personally selected successor, as Maduro is excessively fond of vehemently reminding people — is putting his new ‘emergency’ decree powers to work to continue to fight against the “economic war” that his political opponents and imperial foreign powers are waging in concert against him. Or, at least, the economic war Maduro is pretending that these shady forces are waging against him, the better to contrive an outside enemy responsible for Venezuela’s deep-seated economic troubles rather than naming the country’s socialist system of price controls and top-down intervention as the true culprit. Via Reuters:

Venezuela’s President Nicolas Maduro said a stricter wave of inspections for suspected price-gouging would begin on Saturday in an aggressive pre-election “economic offensive” aimed at taming the highest inflation in the Americas.

“We’re not joking, we’re defending the rights of the majority, their economic freedom,” Maduro said on Friday, alleging price irregularities were found in nearly 99 percent of 1,705 businesses inspected so far this month. …

He says “capitalist parasites” are trying to wreck Venezuela’s economy and force him from office. …

“The inspections are continuing daily and have let us see into the under-world of capitalism,” Maduro said in his latest speech to the nation, warning of severe sanctions starting Saturday against businesses maintaining unjustifiably high prices. …

These highly theatrical and often televised inspections are certainly exposing the seedy underworld of something, but it ain’t capitalism. The Venezuelan government has given out different figures, but something between 30 and 100 business owners have already been arrested for charging what the Maduro regime has deemed are excessive prices, and who knows what other bizarre, concocted spectacles Venezuelans are in for this week; on top of stepping in to punish the whopping 99 businesses apparently guilty of economic conspiracy against the general populace, Maduro also announced a new raft of financial and rent-control measures, which he mistakenly supposes will be some sort of economic boon for the country rather then sending it spinning even further out of control:

Maduro also announced on Friday a new decree to limit monthly rents for commercial properties, to 250 bolivars ($40) per square meter, in a bid to reduce costs passed to consumers.

And in another populist move, the president said interest rates for savers on low incomes would be hiked to 16 percent, from 12.5 percent currently.

It’s almost like he doesn’t understand basic economics, or something.


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I guess he didn’t have a good Thanksgiving.

22044 on November 30, 2013 at 6:34 PM

(Barry Soetoro busily taking notes)

turfmann on November 30, 2013 at 6:37 PM

Indistinguishable from Barack Hussein Obama.

Murphy9 on November 30, 2013 at 6:40 PM

Sounds like Maduro has been watching Bill O’Reilly.

slickwillie2001 on November 30, 2013 at 6:41 PM

Will happen here.

Ben Hur on November 30, 2013 at 6:43 PM

I guess he didn’t have a good Thanksgiving.

22044 on November 30, 2013 at 6:34 PM

No, he comes from a very leftwing family. So like every year they sat comfortably together and read OFA talking points to each other.

Valkyriepundit on November 30, 2013 at 6:43 PM

I love, love LOVE watching communists kill themselves.

Problem is: It usually takes them about 20 years to die. And they usually take a nation with them.

orangemtl on November 30, 2013 at 6:44 PM

It’s almost like he doesn’t understand basic economics, or something.

Economic theory isn’t studied by socialists. Just ask King Barack.

GarandFan on November 30, 2013 at 6:45 PM

I thought Obama said it was the 1% that was the problem.

No “we are the 99%” in Venezuela?

Wethal on November 30, 2013 at 6:46 PM

And in another populist move, the president said interest rates for savers on low incomes would be hiked to 16 percent, from 12.5 percent currently

Bayam should be here soon to inform us rubes how badass that is.

BallisticBob on November 30, 2013 at 6:47 PM

He announced he’s running for president of the USA in 2016. He’s already at 40%. Hillary immediately announced that 100% of companies are involved in price gouging.

Btw – he’d do well in dem primary.

mankai on November 30, 2013 at 6:48 PM

********************** Price Nazi’s **************************!!

canopfor on November 30, 2013 at 6:48 PM

I guess he didn’t have a good Thanksgiving.

22044 on November 30, 2013 at 6:34 PM

Couldn’t talk his crazy uncle into socialized medicine.

Wethal on November 30, 2013 at 6:48 PM

vows to punish more “capitalist parasites”

Irony on suicide watch.

Count to 10 on November 30, 2013 at 6:48 PM

Will happen here.

Fascinating.

Give the Left absolute power and it will.

I hear there is a newly elected Seattle council person who probably thinks the same way about businesses in the Emerald City and would enthusiastically do the same.

Capitalism is pure evil, and leftists, socialists, communists are the saviors for the working class and can manage things more equitably, of course. It is all about control. And the leftists want it all.

hawkeye54 on November 30, 2013 at 6:50 PM

MeanWhile, …………………………..

Black Friday
30m
===
Shoppers spend $9.74 billion at US stores on Black Friday, 13.2% less than last year, ShopperTrack data shows – @AP
read more on bigstory.ap.org

http://bigstory.ap.org/article/thanksgiving-takes-more-black-friday-sales
=========================================================================

ShopperTrak
************

http://www.shoppertrak.com/

canopfor on November 30, 2013 at 6:50 PM

Giving new meaning to the phrase “99%”

unclesmrgol on November 30, 2013 at 6:51 PM

MeanWhile, …………………………..

Black Friday
30m
===
Shoppers spend $9.74 billion at US stores on Black Friday, 13.2% less than last year, ShopperTrack data shows – @AP
read more on bigstory.ap.org

http://bigstory.ap.org/article/thanksgiving-takes-more-black-friday-sales
=========================================================================

ShopperTrak
************

http://www.shoppertrak.com/

canopfor on November 30, 2013 at 6:50 PM

Interesting. Quite a contrast from the earlier LSM reports that Black Friday was so great.
Although Walmart apparently did well.

22044 on November 30, 2013 at 6:55 PM

Interesting. Quite a contrast from the earlier LSM reports that Black Friday was so great.
Although Walmart apparently did well.

22044 on November 30, 2013 at 6:55 PM

WalMart should invade Venezuela and take it over. They could run the country better than the present leader, for that matter – WalMart would do a better job than Obama…..

redguy on November 30, 2013 at 7:06 PM

Venezuela’s Maduro accuses 99 percent of businesses of “price gouging,” vows to punish more “capitalist parasites”

…Nick!…JugEars is on line 57!

KOOLAID2 on November 30, 2013 at 7:06 PM

Interesting. Quite a contrast from the earlier LSM reports that Black Friday was so great.

Although Walmart apparently did well.

22044 on November 30, 2013 at 6:55 PM

Yeah, apparently Walmart did a better job of crowd control this year. That Chicago Kohl’s is getting all the attention.

Happy Nomad on November 30, 2013 at 7:08 PM

WalMart should invade Venezuela and take it over. They could run the country better than the present leader, for that matter – WalMart would do a better job than Obama…..

redguy on November 30, 2013 at 7:06 PM

Well I think that our crack Healthcare.gov IT team, fresh off of its success with Obamacare, should go down and help Venezuela with its infrastructure problems. What could possibly go wrong?

Happy Nomad on November 30, 2013 at 7:10 PM

It is truly enjoyable watching a slow-witted, feeble-minded simpleton try everything in the socialist playbook to no avail. This guy is so stupid it defies the imagination.

Is it true that Nicolas couldn’t decide between a career as a brain surgeon or a soda jerk?

Seriously, how does a moron end up as the leader of a country?

jdflorida on November 30, 2013 at 7:12 PM

WalMart should invade Venezuela and take it over. They could run the country better than the present leader, for that matter – WalMart would do a better job than Obama…..

redguy on November 30, 2013 at 7:06 PM

Well I think that our crack Healthcare.gov IT team, fresh off of its success with Obamacare, should go down and help Venezuela with its infrastructure problems. What could possibly go wrong?

Happy Nomad on November 30, 2013 at 7:10 PM

Republic of Walmart, with all that oil. Nice!

22044 on November 30, 2013 at 7:13 PM

OT – Larry Kudlow is criticizing the Pope on his radio show.

22044 on November 30, 2013 at 7:13 PM

Will happen here.

Ben Hur on November 30, 2013 at 6:43 PM

Yes it will and I am trying to find a way to avoid the huge tax and penalty hit when we dump our 401ks. I need to find a good tax lawyer.

Johnnyreb on November 30, 2013 at 7:19 PM

Well, Stalin had the kulaks, Mao had the landlords and “rich peasants,” and this clown has the shopkeepers. God help them.

ugottabekiddingme on November 30, 2013 at 7:23 PM

canopfor on November 30, 2013 at 6:50 PM

Interesting. Quite a contrast from the earlier LSM reports that Black Friday was so great.
Although Walmart apparently did well.

22044 on November 30, 2013 at 6:55 PM

22044:Everything is rosy, with Hopey The Socialist:)
=====================================================


Black Friday Shoppers Have Spoken: Walmart Delivers Biggest Shopping Day of the Season

Retailer highlights top sellers, gears up for weekend of Black Friday savings and Cyber Monday deals

BENTONVILLE, Ark. – Nov. 29, 2013 –
*********************************

Walmart today announced record-breaking Black Friday results. Millions of customers, once again, took advantage of the retailer’s deals that began on Thanksgiving Day and last throughout the weekend.

“We said Black Friday is the Super Bowl of retail, we ran a play that only Walmart could deliver and our customers loved it,” said Bill Simon, president and CEO of Walmart U.S. “Our Black Friday events were bigger, better, faster, cheaper and safer than ever. More customers chose us, we had the prices and products they were looking for, and we’re not finished yet. Helping families get ready for a great Christmas – and get a lot of great deals while they’re at it – is exactly what we’re going to continue to do.”

Last year, Walmart served 22 million customers on Thanksgiving Day. This year, even more customers chose to shop Walmart:

More than 5 million customers took advantage of Walmart’s One-Hour Guarantee which was expanded from three items last year to 21 items this year.
From 6 p.m. to 10 p.m., Walmart processed more than 10 million register transactions in its stores.
Walmart.com processed nearly 400 million page views on Thanksgiving Day, including customers who used mobile devices and tablets.
(More…)
============

http://news.walmart.com/news-archive/2013/11/29/black-friday-shoppers-have-spoken-walmart-delivers-biggest-shopping-day-of-the-season

canopfor on November 30, 2013 at 7:24 PM

Is Maduro really Richard Pryor?

metroryder on November 30, 2013 at 7:27 PM

And in another populist move, the president said interest rates for savers on low incomes would be hiked to 16 percent, from 12.5 percent currently.

Has he considered raising the minimum wage to say $50 US? Some of the self proclaimed economist people on here have suggested that so it might work there.

Johnnyreb on November 30, 2013 at 7:27 PM

Who knew Maduro could read Pope Francis’ mind?

Dusty on November 30, 2013 at 7:31 PM

Inflation is running at the rate of 54 percent, so thinking that a 16 percent interest is a good deal for savers only works if you are an economic imbecile. Of course, that hasn’t stopped it’s supporters from having long and extensive government careers.

Or as Robert Heinlein said:

“Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as “bad luck.”

Fred 2 on November 30, 2013 at 7:33 PM

Inflation is running at the rate of 54 percent, so thinking that a 16 percent interest is a good deal for savers only works if you are an economic imbecile. Of course, that hasn’t stopped it’s supporters from having long and extensive government careers.

Hey it’s all OK, they will make it up on volume.

Johnnyreb on November 30, 2013 at 7:40 PM

Way off topic, but what an end to the Auburn – Alabama game!

esr1951 on November 30, 2013 at 7:42 PM

Sociaist NAZI says “No Profits 4 U!”

mathewsjw on November 30, 2013 at 7:45 PM

Didn’t some jackhole in a Santa suit just call a bunch of Thanksgiving day shoppers parasites? There you go Dice, meet your peer.

guido911 on November 30, 2013 at 7:57 PM

I have noticed that there seems to be a common thread among troubled socialist regimes. And, that would be… Find boogeymen, then blame the boogeymen for any and all regime failures.

I’ll start the list of our current regime’s boogeymen…
1. Evil Oil
2. Evil “Tea Baggers”, all of whom he respects. He said so, right?
3. Evil Wascally Wepublicans in Congress
4. Evil rich folks (excluding those who give Him their money)
5. Evil Keystone Pipeline
6. Evil Fox News
7. Evil Talk Radio
8. Evil People with cancelled health ins that crashed my website

I’m sure there is more. Help me out people! This should be fun.

WestTexasBirdDog on November 30, 2013 at 8:01 PM

Capitalist parasites have toilet paper.
Yep. Don’t forget to wash your hands!

RovesChins on November 30, 2013 at 8:05 PM

He forgot to read the remaining 44/100ths on the Ivory soap bar wrappers O’Barky had shipped down to him (with and iPod of his speeches) from the 57 states…

viking01 on November 30, 2013 at 8:16 PM

WestTexasBirdDog on November 30, 2013 at 8:01 PM

I have some more.

George W. Bush
Prolifers
Worshipers of the true God and not Obama or other false gods
Leaders of our overseas allies

22044 on November 30, 2013 at 8:19 PM

O/T (or maybe not so O/T)

How come no one is covering this story that popped up on Drudge earlier today?

“KINGSTON, Jamaica (AP) – Police in Jamaica say authorities have seized 3,300 missile warheads and a machine to make missiles and bullets.”

Bogus report? Old WWII stock? Or real story?

bofh on November 30, 2013 at 8:20 PM

Venezuela’s Maduro accuses 99 percent of businesses of “price gouging,” vows to punish more “capitalist parasites”

Well than, the only solution is for the totalitarian left to take over… and watch true misery ensue.

RJL on November 30, 2013 at 8:27 PM

Way off topic, but what an end to the Auburn – Alabama game!

esr1951 on November 30, 2013 at 7:42 PM

That was insane in a most awesome way.

BallisticBob on November 30, 2013 at 8:38 PM

I’m surprise they only found “irregularities” in 99 percent of the businesses investigated, the other 1 percent must be in that category of business we call “bankrupt.” What they are doing to calculate price gorging is use the “official” conversion rate only. As no one can get dollars to buy imports at the official – artificially low – rate this is all a fantasy.

Fred 2 on November 30, 2013 at 9:36 PM

When he can no longer pay his army is when he’ll be unemployed.

BobMbx on November 30, 2013 at 10:06 PM

Murphy9 on November 30, 2013 at 6:40 PM

plus 1

Kjeil on November 30, 2013 at 10:46 PM

The Road to Serfdom being played out before your very eyes.

Or Atlas Shrugged.

DavidM on November 30, 2013 at 11:02 PM

And in another populist move, the president said interest rates for savers on low incomes would be hiked to 16 percent, from 12.5 percent currently.

It’s no different than Elizabeth Warren saying that student loan rates should be capped at the federal discount rate.

blammm on November 30, 2013 at 11:33 PM

Well, Castro will be happy… but is Russia still into propping up failed economies in order to prove the superiority of communism?

Marcola on December 1, 2013 at 12:49 AM

ESAD.

Mason on December 1, 2013 at 1:12 AM

Christie lost me as a voter when he complained about gas stations “price gouging” during Hurricane Sandy. The fool either didn’t understand how prices counteract hoarding, or chose to use the moment to appeal to low-information voters. There is NO SUCH THING as “price gouging.” No market model can support the idea.

Probably both, come to think of it.

DarthBrooks on December 1, 2013 at 1:24 AM

Venezuela, the Western Hemisphere’s Zimbabwe….

Well, at that point they are all ‘equal’ – equally poor…

…well perhaps not.

All are equal, some are just more equal than others.

I’m sure Maduro, like Hugo, isn’t suffering too much these days.

Athos on December 1, 2013 at 2:18 AM

I tried to explain the relationship between anti-“price gouging” laws and long gas lines to people during Sandy. But I could never succeed. It’s just to satisfying to the public to blame everything bad on evil people and hope to be rescued by right thinking politicians. It’s how things work in the era of “Hope and Change.”

Fred 2 on December 1, 2013 at 3:51 AM

Maduro read the Pope’s latest letter and took action.

Kissmygrits on December 1, 2013 at 7:07 AM

Obama is envious.

locomotivebreath1901 on December 1, 2013 at 9:10 AM

There was a coup in Venezuela in 2002 which attempted to get rid of Hugo Chavez. George W Bush did nothing to help with this coup and Chavez was able to remain in power. The Left is forever yelping about Pinochet’s coup against Allende in 1973, as if it were the worst thing that ever happened on the planet and caused solely by United States manipulation. We need to a counter-narrative about how George W Bush failed to help the people of Venezuela and Chavez stay in power. Seriously. People around here wonder why the Right loses all the time. Well, if we can’t question whether George W was too weak in this case, we will continue to lose.

thuja on December 1, 2013 at 10:03 AM

Liberal heaven.

lorien1973 on December 1, 2013 at 11:57 AM

Wow, this should really send productivity through the roof!

yubley on December 1, 2013 at 1:27 PM

Just wait until the Iranians supply this madman with an arsenal of nukes pointed at our shores.

Myron Falwell on December 1, 2013 at 2:03 PM

Well, he’s not wrong. That’s what businesses do. And consumers price gouge right back. Or not. That’s what we call a market.

FineasFinn on December 2, 2013 at 2:00 PM

Just wait until the Iranians supply this madman with an arsenal of nukes pointed at our shores.

Myron Falwell on December 1, 2013 at 2:03 PM

Is my sarcasm meter broken? Because of all the things in the world that could go wrong, the Venezuelan Nuclear Threat isn’t something I’m going to worry about.

FineasFinn on December 2, 2013 at 2:06 PM

It is not as if Maduro has much of a choice. Either follow the logic, such as it is, with respect to his beliefs or have to acknowledge that what he believed was wrong and then embark on a course of action that he thought was wrong and probably evil.

Chavez had it easier. He came in at the beginning. He could engage in all kinds of behavior that runs down the economy and still have enough surplus to make things appear to work. I think towards the end he was finding it rather more difficult to keep it up, but then he passed from the scene.

Maduro is coming further along the line, after many of the easy low-hanging goodies have already been picked, and has to cope with the increasingly desperate economic straits that Chavez’s economic policies had produced. Since he has not faced the fact that perhaps Chavez was wrong in the long term, he has to continue the policies and rail against the fact that other people aren’t willing to go bankrupt for his regime.

He may well go to his grave saying that it was all someone else’s fault that the policies he pursued didn’t work. Unable to comprehend that the lofty goals do not outweigh the incentives that the policies engendered.

Russ808 on December 2, 2013 at 3:05 PM