Boom times wane in Venezuela

[Fountain79]

http://edition.cnn.com/2008/WORLD/americas/06/08/venezuela.economy.ap/index.html

CARACAS, Venezuela (AP) -- Mirina Kakalanos has been forced to double prices at her family's shoe store in the last year. Customers turn away after browsing the pumps and sandals, but Kakalanos says she has no choice.

"There is less money coming in, and more costs to cover," said the 40-year-old mother of three, whose Greek immigrant father opened the shop after moving to Venezuela in search of a better life. Now she barely makes enough to get by.

Boom times are waning in oil-rich Venezuela, even as world crude prices soar. Inflation is nearing 30 percent, the highest in Latin America, and annual economic growth slowed to 4.8 percent in the first quarter, a four-year low.

[morgan2]

1. whats the big part of that story?

the corporate media admits there were boom times under Chavez! I thought things were so horrible during his entire term.
</sarcasm>

[dipsydoodle]

2. They got that from AP

You wanna believe it feel free.:sarcasm:

[Peace Patriot]

3. Oh for chrissake! I can't believe these Puke "news" feeds...

Venezuela has seen a nearly 10 growth rate for five years, with the most growth in the PRIVATE sector (not including oil). And so, they slow down a bit, and the Associated Pukes - who never acknowledged the intelligence and good planning of Chavez government policies in the first place - are crying, "Boom is over!"

The corporate "news" monopolies are so disgusting, and such fucking liars!