I researched the price of that card today after 35 years of inflation and overall fiscal and monetary mismanagement in Venezuela. That card today, in those same Venezuelan bolívares, would cost one quadrillion bolívares— that’s 1 followed by 15 zeros. That number is practically incomprehensible, but to put it another way, to buy it today, paying with the old 10 bolívar bank notes, it would take 6 million 20-ton truckloads to pay for one card; or a line of 54-foot semi tractor-trailers over 60,000 miles long.
That is why excessive government spending and inflation matter, not just in Venezuela, but everywhere, including the United States. Politicians (of both parties) always long for low interest rates regardless of the longer-term impact on prices. Likewise, the same politicians (of both parties) always push for more spending, just on different things, without regard to inflation or budget deficits.
Let’s learn from other countries’ mistakes, manage U.S. fiscal and monetary affairs in a prudent manner and not let inflation get out of hand.
Will McMullen, Franklin Township, Minn.
Regardless of your stance on immigration, you must view it as an emergency when people who claim to be federal police, without even showing their badges, detain and kidnap U.S. citizens and noncitizens here legally. This is a direct attack on life, liberty and the pursuit of happiness.
Given that Immigration and Customs Enforcement officers have been covering their faces and refusing to identify themselves, and a jacket that says “POLICE ICE” costs $30 from Amazon, it’s only a matter of time before enterprising criminals take advantage of this situation.