Venezuela issues grocery ID cards

In this micromanaged economy, a move to prevent people from buying excess food at subsidized prices to then resell at a handsome profit.

"Critics say it’s another sign the oil-rich Venezuelan economy is headed toward Cuba-style dysfunction." WashPost-AP, 4/1/14

Plus: "Forget rent control: Property owners in Venezuela are being squeezed by a new law requiring them to sell to longtime tenants." WashPost-AP, 3/31/14

They have 60 days to come up with a 'fair price' or face fines of more than $40.000.

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The obvious question

What was the alternative? There is no debate as to shortages. There is a debate as to the cause. The democratically elected government could have said "OK, we give up, you work it out" and left for the beach but they didn't.

It's pretty clear that not issuing ration cards was not a solution -- the result would be that those with lots of money could get all the food they want and the poorer folks would end up with nothing.

We are smart first-worlders, many from a country with an expensive system in place to make sure the poor can eat. What would be our solution?

This has happened in other places

Maybe Venezuela Is

getting a jump on WW III They'll be ready when their ally Iran flies the nuke laden 777 into Manhattan.

>>>Death To The Empire!

http://www.ameshistory.org/exhibits/events/rationing.htm

Does anyone else besides Cuba use ration cards these days? ,, I mean outside of a war time setting?

I don't think Food Stamp debit cards should count ...

Why not the US food stamps

Country is broke because of wars...so why not include the USA?

Interesting point

The real difference is that, so far, the US has managed to borrow money better (meaning cheaper and in close to infinite quantities) than Venezuela. Maybe if the US couldn't just borrow -- whether it is to feed its people or fight wars -- it might become more fiscally responsible.

I Suppose Some

analogy could be made between wasting your citizens' money on war, and laundering it into offshore bank accounts . . . ..

At least Venezuela's fearless leaders still have the money in hand (more or less, depends on your definition of in hand). They will be able to live out their lives in luxury, even if it has to be in Ecuador, Cuba or Bolivia.

They should convert it into Bit Coins, a lot tougher for the new Venezuelan government to seize.

Is Mt Gox back up and running ?

Payment In Venezuelan

government bonds as in the case with the airlines and oil service companies?

Where DOES the oil money go?

http://www.economist.com/node/15769869

http://rijock.blogspot.com/2013/10/reporting-on-venezuelan-money.html

And even more fascinating, the Venezuela-Zimbabwe-Iran connection:

http://www.theamericasreport.com/2011/11/18/uranium-mining-just-another-...

That grocery ID card,, is that kind of like the Vons Rewards Card I use ?