Here is a stable economic system….
We have been following the unfolding disaster in Venezuela where the socialist dream of Hugo Chavez and his dim-witted successor Nicolas Maduro has reduced a major nation to virtual starvation. The central planning of Maduro’s nation has destroyed the oil-based economy and triggered inflation that is projected to reach one million percent within the year.
Source: Venezuela’s Inflation Rate Hit 80,000 Percent In 2018
This chart clearly demonstrates Venezuela’s stark economic problems. Instead of fixing the problems (socialism), Venezuela is literally attempting to pull a rabbit out of the hat by giving out rabbits to be bred and used for food. With brilliant policies like that, I can’t imagine why their inflation rate remains so high!
While not quite as enjoyable for the average joe as consumer prices deflation, Producer Prices fell 0.1% MoM in July – the first ‘deflationary impulse’ since August 2016 . Both goods and services prices fell – with services the biggest driver (which is odd since that’s where all the job growth has been)…
Source: Great News America – Producer Prices Just Fell For the First Time In 11 Months
Authored by Mike Shedlock via MishTalk.com, Yesterday, I commented on “transitory” factors holding down inflation. Today, the Wall Street Journal reports Global Inflation Hits Lowest Level Since 2009 . The Organization for Economic Cooperation and Development said Thursday that consumer prices across the G-20—the countries that account for most of the world’s economic activity—were 2% higher than a year earlier.
Source: Central Banks Stumped As Global Inflation Hits Lowest Level Since 2009 – Here’s Why