Economy Crashes, Government Rejoices
In celebrating the plunge in our nation’s economy, Chávez is, in effect, celebrating the fall into poverty of countless thousands of families, of his base, damnit. Thousands of regular folks see the gains they’d made during the oil boom cruelly clawed back by inflation and shortages, and the government’s response is to chalk it all up as a win!
Do stop to grasp what we’re seeing here, because in a way, it’s historic.
For any number of poor and near-poor Venezuelans, the distant abstractions of the first quarter GDP report mean all they can afford is two meals a day, instead of three. It means having to choose between medicine and school supplies for their kids.
The lethal combination of slowing economic activity alongside fast rising prices spells real economic hardship, proper suffering, for precisely the kinds of people the government claims to champion.