Venezuela’s Disastrous Economic Situation

Behold what Hugo Chávez and Nicolás Maduro hath wrought:

The sprawling street market that radiates outward from the metro station in Petare, Caracas’s largest slum, is the retail equivalent of an anti-Target.

There’s no organization to it. Tube socks and school supplies are sold beside giant pyramids of pineapple and piled yucca. Leopard-print hot pants stretch over mannequin buttocks next to the stinky stalls of fishmongers.

The bazaar was known until this month as one of the city’s biggest open-air black markets, the place to find all the scarce items that shoppers must queue up for hours to get in supermarkets, or can’t find at all. Earlier this year, toilet paper and corn­meal were scarce; lately it’s diapers and deodorant that have “gotten lost,” as Venezuelans say.

Authorities mostly turned a blind eye to the informal commerce, but late last month Venezuelan President Nicolás Maduro went on TV to decree a ban on street sales of coffee, eggs, shampoo and some 50 other “regulated” items whose prices­ are capped by the government. He ordered the National Guard to police market stalls for such items as mayonnaise and powdered milk, and threatened to prosecute recidivist violators.

The crackdown is tricky for Maduro. In Petare and elsewhere, it risks alienating some of the poor Venezuelans who had long been loyal to Maduro’s predecessor, the late Hugo Chávez, but are increasingly unhappy with his understudy.

Maduro ya se maduró,” quipped vendor Maribel Nieble, with a play on the president’s last name that meant “Maduro has turned rotten.”

I am waiting, of course, for all of the people who once praised Chavismo to admit that they supported a disastrous economic and governing ideology that is responsible for the immiseration of an entire country. Isn’t it time for them to do so? I mean, after all, surely their consciences have caught up to them by now.