For Venezuela’s economy, the ascent into socialist paradise did not turn out quite as planned: in fact, under the Maduro regime, the country with the world’s biggest petroleum reserves somehow reversed course, and crashed through every single circle of economic hell, and now that its hyperinflation has hit levels that would make even Mugabe and Rudy von Havenstein blush, all that’s left is barter.
And, as Fabiola Zerpa explains as part of Bloomberg’s fascinating “Life in Caracas” series, i.e., watching economic and social collapse in real-time, in Venezuela, a haircut now costs 5 bananas and 2 eggs.
Read on for what really happens when money dies, coming to a banana monetary regime near you in the near future.
In Venezuela, a Haircut Costs 5 Bananas and 2 Eggs
Continue reading “When Money Dies: In Venezuela, A Haircut Costs 5 Bananas And 2 Eggs”
