The ideology of socialism has finally caught up to Venezuela at a frantic speed. Venezuela’s inflation is expected to skyrocket to 1,000,000% by the end of the year thanks to the non-stop government printing.
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There have been reports of Westerners eating at a decent restaurant, a hotel room, and hiring a prostitute all for under $5US. In other words, the Venezuelan economy has utterly ceased to function, except through black market transactions involving dollars.
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South America’s countries still rank quite high for investing, thanks to their smaller debt loads, emerging market fundamentals, and relatively high economic freedom and the lifestyle options on the continent are also very attractive. Let’s take a brief look at the situation in all but 4 of the countries there.
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News out of Venezuela continues to be quite grim, pointing to further economic deterioration... Here is the the latest:
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