Rich dating poor

(It has two others.) That's like paying

(It has two others.) That's like paying $1 to get $170. You could either use the $169 the government has given you to buy, say, milk for $3 overseas that you're only allowed to sell for $2 at home, or you could just sell it for $169 in the black market right away.Now, the idea is that giving companies money like this will let them make money -- giving them a reason to fill their stores -- even when they sell at the prices they're supposed to. In the first case, you'd make about $112; in the second, well, $169.That's how its government cut poverty almost 30 percent its first 12 years in power.You can't keep redistributing oil profits, though, if there aren't any more oil profits to redistribute. According to the International Monetary Fund's latest projections, it has the world's worst economic growth, worst inflation and ninth-worst unemployment rate right now.It also has the second-worst murder rate, and an infant mortality rate that's gotten 100 times worse itself the past four years.

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(It has two others.) That's like paying $1 to get $170. You could either use the $169 the government has given you to buy, say, milk for $3 overseas that you're only allowed to sell for $2 at home, or you could just sell it for $169 in the black market right away.

Now, the idea is that giving companies money like this will let them make money -- giving them a reason to fill their stores -- even when they sell at the prices they're supposed to. In the first case, you'd make about $112; in the second, well, $169.

That's how its government cut poverty almost 30 percent its first 12 years in power.

You can't keep redistributing oil profits, though, if there aren't any more oil profits to redistribute.

According to the International Monetary Fund's latest projections, it has the world's worst economic growth, worst inflation and ninth-worst unemployment rate right now.

It also has the second-worst murder rate, and an infant mortality rate that's gotten 100 times worse itself the past four years.

So it's not profitable for unsubsidized companies to stock their shelves, but it's not profitable enough for subsidized ones to do so when they can just sell their dollars for more than they can resell imports.

That's why Venezuela has had shortages of basic goods -- everything from food to beer to toilet paper and especially medical supplies -- even before oil prices fell so far.

to get 0. You could either use the 9 the government has given you to buy, say, milk for overseas that you're only allowed to sell for at home, or you could just sell it for 9 in the black market right away.

Now, the idea is that giving companies money like this will let them make money -- giving them a reason to fill their stores -- even when they sell at the prices they're supposed to. In the first case, you'd make about 2; in the second, well, 9.

That's how its government cut poverty almost 30 percent its first 12 years in power.

You can't keep redistributing oil profits, though, if there aren't any more oil profits to redistribute.

According to the International Monetary Fund's latest projections, it has the world's worst economic growth, worst inflation and ninth-worst unemployment rate right now.

It also has the second-worst murder rate, and an infant mortality rate that's gotten 100 times worse itself the past four years.

So it's not profitable for unsubsidized companies to stock their shelves, but it's not profitable enough for subsidized ones to do so when they can just sell their dollars for more than they can resell imports.

That's why Venezuela has had shortages of basic goods -- everything from food to beer to toilet paper and especially medical supplies -- even before oil prices fell so far.

In the meantime, though, there's a country to loot.

Why doesn't the government just get rid of this exchange-rate system then?

Because as difficult as it is to get someone to understand something when their salary depends on them not understanding it, it's even more so when their embezzling depends on it.

And it has happened despite the fact that Venezuela has the world's largest oil reserves. Sure, -a-barrel oil hasn't helped, but it hasn't hurt so much that a "Mad Max"-style dystopia was inevitable.

Never has a country that should have been so rich been so poor. After all, every other country whose economy begins and ends at its oil wells has at least managed to avoid that fate.

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  1. The father of murdered child beauty queen Jon Benet Ramsey and the mother of missing teen Natalee Holloway now appear to share something beyond their tragic circumstances – each other.