What’s next for Venezuela? Cuba at one point had an answer on how to rev up its cash-strapped economy: drug trafficking. Those days appear to be over thanks to the Reagan administration’s vigilance; but drug trafficking has also been a source of revenue for Venezuela, enriching Venezuelan narco-generals, high-ranking officials, and in particular Lebanese-born businessman

Hugo Chavez Successor’s: Loot the Stores!

By David Paulin

Hugo Chávez must be rolling over in his grave — convulsed with laughter. Bread-and-circuses socialism has hit new heights in Venezuela as Chávez’s hand-picked successor Nicolás Maduro ordered the military occupationof electronic chain stores – and forced them to offer “fair prices.” Prices had been rising, but not anymore.

Under President Chávez, bread-and-circuses populism also was the rage: nationwide stores were set up to sell food at below-market prices – an effort that, ironically, led to food shortages. Now, Maduro is taking Venezuela’s entitlement culture a step further — putting government-set prices on things like plasma television sets, refrigerators, and washing machines.

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