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Tipsheet

Mea Culpa: Hamburgers Are Not $170 In Venezuela, But Socialism Has Still Destroyed The Country

So, my apologies folks—the story about hyperinflation being so out of control that burgers cost $170 turned out to be a misfire. The Agence France-Presse killed the story due to errors in the exchange rate:

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This story has been killed due to an error in the exchange rate used in the original. A new version will follow.

Still, the nation is so broke that it can’t print its own currency. They still have rolling blackouts due to energy shortages. There’s still hunger to the point where people are killing dogs, cats, and pigeons for food. There’s still rampant looting since supermarkets are not regularly stocked. Toilet paper is now a luxury item. And hospitals are still in need of soap and basic medical supplies. Also, babies are still dying in hospitals due to energy shortages and inadequate care. Yes, Coca-Cola and Bridgestone are halting production of its products due to the declining economic conditions, the lack of supplies, the heavy regulations, or a combination of the three. Oh, and let's not forget the complete breakdown of law and order.

Venezuela is a total disaster—socialism is to blame. But hey, burgers might be somewhat affordable. 

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