Hyperinflation

Are Oil Prices To Blame For The Venezuelan Crisis? (Spoiler Alert: Of Course Not!)

Venezuela is undergoing the typical collapse of a country that has been subject to years of all kinds of political interventions. The fall in oil prices is the external shock that brings to light the embarrassing result of years of price controls, currency controls, nationalizations, uncontrolled monetary creation, and economic dirigisme.

Venezuela's Maduro - Selling The Golden Goose

Mister Maduro, in order to buy a bit more time in the presidential mansion, is selling the golden goose. For those who wonder why it’s so often the case that a nation that’s been knocked down economically rarely rises up again within the same generation, the answer is manifestly clear in Venezuela...

Maduro Preparing To Swap Venezuela's Gold For Dollars

“The national government, through the central bank, is going to try to swap gold held as reserves for dollars to stay in power unconstitutionally,” according to the letter signed by National Assembly President Julio Borges.

Abe Advisor Says It's Time To Pull The Plug On QE

Nobuyuki Nakahara, an adviser to Prime Minister Shinzo Abe and an influential former Bank of Japan board member said the BOJ should make a "clean break" from its current policy approach when Kuroda's term ends next spring.

Venezuela's Money Supply Soars By A Record 200%

Soon after a month-long hiatus from publication, the central bank said late on Friday the total amount of local currency in circulation, M2, as of March 24 was 13.3 trillion bolivars, up 202.9% from a year earlier.

Country With The World's Largest Oil Reserves Runs Out Of Gasoline

While fuel supplies in the country with the world's largest proven oil reserves had continued flowing despite monetary collapse and hyperinflation, a domestic oil industry in turmoil and a deepening economic collapse under President Nicolas Maduro, that changed last Wednesday when Venezuelans found themselves waiting in lines for gasoline.

Why Socialism Is Here To Stay

"Progressives" believe that, even if they don’t recommend full-on socialism, getting "just the right mix" of socialism and capitalism will create the ideal system. Unfortunately, as viable as this concept may sound, even moderate socialistic national policies result in moderate deterioration of the system. It’s not unlike being "just a little" addicted to heroin.

100 Years Ago, Russian Stocks Had A Very Bad Day

Just as stocks had doubled after a trading pause lasting the duration of World War I, and the sky seemed the limit for Russian investors.... something very unpleasant happened.

Venezuela Stops Publishing Money Supply Data For Obvious Reasons

More than a year after hyperinflating banana republic Venezuela stopped reporting official inflation data, Venezuela has stopped publishing money supply data, depriving the general public of the last, and best, available tool to ascertain soaring inflation in what has become the world's worst-performing economy.