Al-RootersVenezuela's President Nicolas Maduro said a stricter wave of inspections for suspected price-gouging would begin on Saturday in an aggressive pre-election "economic offensive" aimed at taming the highest inflation in the Americas.
he has no idea how an economy works. Hoogo-Lite
"We're not joking, we're defending the rights of the majority, their economic freedom," Maduro said on Friday, alleging price irregularities were found in nearly 99 percent of 1,705 businesses inspected so far this month.
106%!!
Maduro, who has staked his presidency on preserving the legacy of late socialist leader Hugo Chavez, launched a theatrical - and often televised - wave of inspections this month to force companies to reduce prices.
1) reduce revenue,
2) increased costs of imports and pay
3) ....
4) *success!*
He says "capitalist parasites" are trying to wreck Venezuela's economy and force him from office.
he means "voters and employers"
Maduro also announced on Friday a new decree to limit monthly rents for commercial properties, to 250 bolivars ($40) per square meter, in a bid to reduce costs passed to consumers.
and screw building/land owners
And in another populist move, the president said interest rates for savers on low incomes would be hiked to 16 percent, from 12.5 percent currently.
inflation is currently 55%