Venezuelan President Makes Use of Decree Powers

[Zorro]

(complete article)

Venezuelan President Nicolas Maduro is taking advantage of newly granted emergency powers to extend grip over the inflation-plagued economy.

Maduro on Thursday signed a decree limiting the profits of companies to ensure they don't overcharge consumers and another that gives the government greater control over imports to make sure dwindling dollar reserves aren't misspent.

Maduro had promised to enact both measures in the run up to Tuesday's vote by congress, which granted him the authority to pass laws without consulting lawmakers for a year. It's unknown how he'll use the mandate next though. Opponents say the thinly-disguised power grab will further weaken Venezuela's democracy after 15 years of socialist rule.

The president this month slashed prices on appliances to recover support eroded by 54 percent inflation and mounting shortages.

http://abcnews.go.com/International/wireStory/venezuelan-president-makes-decree-powers-20974535

I thought Manuro was going to use his decree powers to attack political corruption. Silly me.

[MADem]

1. So....once everything is sold off at bargain basement prices, owners will have insufficient capital

to buy more stuff.

Downward spiral, anyone? How's he going to "legislate" that they restock the shelves without cash to buy goods?

He can "pass laws without consulting lawmakers for a year?" Talk about a nightmare waiting to happen...

God, he's so STUPID.

How long will it take before he runs the joint into the ground?

[Socialistlemur]

2. Maduro seems to follow a Cuban blueprint

Maduro sure seems a Cuban puppet, and the blueprint he's following sure seems more focused on repression and medieval ideas tan common sense. Shortages are bad, but they'll be worse in two-three months.