Venezuela Nearing the Bottom

President Nicolas Maduro’s government said on Thursday it had taken over warehouses around Venezuela crammed with medical goods and food that “bourgeois criminals” were hoarding for speculation and contraband.

The socialist government says businessmen and wealthy opponents are trying to sabotage the economy to bring Maduro down, while also seeking to make profits from hoarding, price-gouging and smuggling across the border to Colombia.

If the government seizes merchandise in warehouses, who’s going to restock warehouse?  Nobody in his right mind.  You can loot the economy for only so long.  Venezuela is surely testing the limits of that proposition.  Pity the people of Venezuela.  They can look forward to the kind of poverty few but Cubans have heretofore known.

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