Tag Archives: ZeroHedge – Tyler Durden – To Boldly Go Where No Socialist Has Gone Before: Venezuela Creates Ministry Of Supreme Happiness

ZeroHedge – Tyler Durden – To Boldly Go Where No Socialist Has Gone Before: Venezuela Creates Ministry Of Supreme Happiness

ZeroHedgeIf one (such as everyone at the Federal Reserve) thought that the world’s greatest artificial “wealth effect” would also generate the world’s happiest people, one would be dead wrong.

Take Venezuela – Hugo Chavez’ socialist paradise, which was recently inherited by Nicolas Maduro, when he proceeded to not only completely devalue the local currency but to engineer, through such exquisite central-planning that even the Politburo at the Marriner Eccles building is green with envy, the highest returning stock market on earth in 2013. Alas, either the locals are not quite as impressed with the Caracas’ “stock market” YTD return of over 300% (which doesn’t quite cover the loss in purchasing power for what things one can actually purchase in Venezuela)… Continue reading