Obama's good buddy Chavez is finding out that making up your own monetary policy by declaring your currency to be worth "X" amount doesn't negate the laws of supply & demand.
Venezuela doesn't seem to be the Socialist paradise envisioned as an attainable goal for America by our starry-eyed leftists.
Every action by the government has a corresponding reaction in the free market. Obama would do well to consider that spending & printing currency like it's monopoly money is likely to make it as worthless as monopoly money. Perhaps he and Congress find such action "stimulating?"
But hey, maybe we can keep on spending like this and won't devalue our currency. President Hope & Change can just wave his magic wand and suspend the laws of basic economics.
H/T to Tam and Marko
Monday, January 11, 2010
Take Notice Obama
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