“In general, the art of government consists in taking as much money as possible from one party of the citizens to give to the other.”
Then Venezuelan President Nicolas Maduro is the Leonardo Da Vinci of government. And the results of his “art” are devastating to the Venezuelan people.
The good news? Venezuelan annual inflation has cooled to 60,324%.
The bad news? On a day when most nations are seeing a decline in their 10-year sovereign yields,
Venezuela is seeing a 50 basis point rise in their 10-year sovereign yield (denominated in US Dollars). And their 1-year sovereign yield is … 226.77%.
With the largest oil fields in the world, how do you mess that up?