How hyperinflation stole Christmas in Venezuela

CARACAS, Venezuela — They were the cheapest in the store, but the Converse knockoffs were still 500,000 bolívars a pair. “Son locos” — they’re crazy — Viviana Acosta had said, gingerly placing the sneakers back on the shelf.

Just before Christmas, the world’s worst inflation crisis in nearly a decade was escalating — bringing a country of nearly 32 million, once Latin America’s richest per capita, to its knees. Shoes for the kids had been Viviana’s plan for the holidays. But multiply by three — for two daughters and one son — and it was three months worth of what she earned doing house-call hair and nails.

  • Hard Little Machine

    I hope they embark on that other popular pastime of communist states having problems….cannibalism.

    • Exile1981

      it’s already been reported that people are disappearing and long pork has become popular.

  • Exile1981

    a decade ago the it traded at 1.6 bolivar to Can $…. now its 200 to 1. That is the success of socialism.