The Source Of Venezuela’s Economic Woes

It’s no secret that Venezuela’s economy is in the same place every other socialist economy ends up: the shitter. But unlike its predecessors, Venezuela has identified the source of its troubles! That source is none other than a website operated by an evil American capitalist pigdog:

Venezuela’s central bank has filed a lawsuit at a court in Delaware against the US-based website DolarToday.

It accuses the website of cyberterrorism and says its managers are sowing economic chaos in Venezuela.
The central bank requested both an injunction and damages, accusing the site’s managers of fanning inflation in the country.

DolarToday tracks the black market value of the Venezuelan currency, the bolivar.
It values the bolivar at a far lower rate than the official one.

It values the bolivar at a far lower rate than the official one.

I’m always amused by faltering socialist nations. Their leaders always blame their nation’s economic collapses on evil capitalists, speculators, and the black market. On the one hand they claim socialism is the ultimate economic systems while on the other hand claiming their economies are so pathetic that any capitalist can destroy it.

Expect the Venezuelan government to lash out and anybody and everybody as it collapses under the weight of decades of centralized controls. And expect to hear socialists around the world try to argue why Venezuela wasn’t socialist enough, evil capitalists sabotaged the people’s economy, and other commonly heard excuses for the inevitable failures of socialism.