The Wages Of Socialism

Image courtesy of Gary North.

Even with the bailout of "Government Motors" Detroit real estate looks abysmal.

Excerpts from BBC News:

President Hugo Chavez has added three days to Venezuela's Easter holiday to deal with a growing energy crisis.

The move - which will close government and public offices - means most Venezuelans will have a seven-day break starting on 1 April.

Mr Chavez said the aim of the measure was not to encourage "laziness, but to save energy".

Caracas says a drought has dropped water reserves at Venezuela's main hydroelectric dam to critical levels.

The opposition says lack of investment and inefficiency in the energy sector have contributed to the crisis.

President Chavez says his critics are exaggerating the crisis

Many business leaders have warned that industrial production could be disrupted.

Industrial users were also ordered to cut their usage by 20% or face sanctions.


More brilliant central planning means shortages for everyone!