Friday, August 16, 2013

President Maduro didn't read Chapter 2

In May, I sent a copy of my third edition textbook to President Maduro, to help him understand why his country ran out of toilet paper

Now Venezuela is running out of used cars:

With new car prices carefully controlled, import dollars strictly limited, and demand for wheels way outstripping supply, Venezuela must be one of the only places in the world where cars raise in value the second they move off the lot. With people forced to turned to fix assets to protect the value of their savings, waiting lists for new cars have grown notoriously long. These days, new cars are just another arbitrage opportunity; a steel-rubber-and-glass version of a CADIVI dollar.

This book can help.  Please encourage him to read chapter 2.

HT:  Jamie

No comments:

Post a Comment