As an emerging markets investor in 19th century South America, it was tough to find out what was really happening. At best, up-to-date news had a three month journey. Even with good winds, the round trip between London and South…
The U.S. dollar is a handy backup when a country’s currency loses its value. After Zimbabwe’s hyperinflation hit its peak (or its nadir) in 2009, they used U.S. dollars but didn’t have enough. So, when the cash got too gray…
Last year, Venezuela’s inflation rate exceeded 800%. For this year, the data conflicts. While the Wall Street Journal and the IMF say Venezuela is on its way to hyperinflation, Johns Hopkins economist Steve Hanke says the rate is closer to 70%.…
In addition to electricity, water, pharmaceuticals and supermarket items, Venezuela will soon have a beer shortage because of its foreign exchange policy.
A yardstick that combines inflation and unemployment, the Misery Index is a handy way to assess economic happiness but like all statistics, it has defects.
As in Venezuela and Saudi Arabia, the Dutch disease that an economy catches comes from too much dependence for revenue and jobs on one commodity like oil.
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