by Dr. Elliot Eisenberg, Ph.D
While most nations are struggling mightily with how to boost inflation from microscopic levels, Venezuela has more than enough. This year, Venezuelan inflation is expected to reach 500%, and in 2017, a terrifying 1,650%. Declining oil prices alone hurt, but gross economic and financial mismanagement are primarily to blame. GDP is expected to decline 8% more this year. What's going on in Venezuela is a self-induced politico-economic tragedy.