Wrecking The Economy, Socialism On The March

Venezuela is is such trouble right now, it's painful to watch. Now the red-shirted lunatic in chief (T)Hugo Chavez, is openly threatening to nationalize grocery stores and warehouses if they don't sell goods at a nationally set money-losing price. Let them eat chicken feet, eh, (T)Hugo?

The government says supermarkets have been artificially boosting prices of basic foods by manipulating stockpiles.

But critics blame regular food shortages on prices imposed four years ago, forcing shops to sell at a loss.

Many privately-owned supermarkets have suspended sales of beef, milk and sugar after one chain was temporarily closed for pricing meat above allowed levels.

The government has already seized goods that it says are being hoarded to drive up prices.

The products have been sold at government-run Mercal supermarkets, which sell staple foods at discount prices in poor areas, and at makeshift distribution centres.

My favorite part of the BBC article is this outright howler:

He has stepped up his nationalisation programme since winning re-election in December.

In recent weeks, he has bought stakes in electricity and television companies from US firms.

"Bought stakes" must be the new whitewash for "stole". His government set bargain basement prices then grabbed the assets. That isn't "buying a stake", that is highway robbery.