Turmoil in Venezeula Continues

Chavez's Venezuela is descending into a dictatorship. Of course this gets minimal media attention because Chavez is a darling of the left. Price controls cause shortages. Anyone interested in national healthcare should read this.

CARACAS, Venezuela (AP) -- President Hugo Chavez threatened Wednesday to nationalize any privately owned supermarkets and food storage facilities caught hoarding inventories or violating price controls imposed on basic goods.
Accusing private companies of hoarding beef and other foods, Chavez warned supermarket owners and distributors that he would nationalize their facilities as soon as they gave him "an excuse." ...

Industry officials blame shortages on price controls that oblige retailers to sell at a loss, while the government claims unscrupulous speculators, including supermarket owners and distributors, have been hoarding food to boost prices. Venezuela's consumer protection agency and National Guard have raided warehouses and confiscated tons of food they say vendors were unwilling to sell at the official price.

Jose Luis Betancourt, president of Venezuela's main business chamber, said Chavez's threat carried serious implications for the private sector.

"This is a veiled threat against any company, any business owner, any investor, any citizen," Betancourt told Globovision TV station.