The US in one direction, Cuba and Venezuela in another

Tony Branco

Silvio Canto, Jr.  "On Friday, President Trump celebrated some good news from the U.S. economy.  In the last week, a different message is coming from Cuba and Venezuela.
"We are watching three countries going in different economic directions: the U.S., Cuba, and Venezuela.  It is a classic case of free markets versus socialism.
"Down in Cuba, the message has not changed over the years, as the new president reminded us:

Cuba's economy grew less than expected in the first half of 2018 and an ongoing liquidity crisis will force fresh belt tightening, President Miguel Diaz-Canel said on Sunday.

"He is proposing constitutional changes.  However, Cuban perestroika won't work any better than the one we saw in the USSR.

"Venezuela is more than falling apart: "Venezuela could eventually have 1 million percent inflation."

"What does that inflation level mean?  It means this: "Venezuela's currency has lost 99.9997 percent of its value in the past 6½ years.  To put that in perspective, $333,333 worth of bolivars in 2012 would be worth $1 today."

"A failed state?  I think so!

"As I recall, a "bolivar," the currency, was 4.29 to a U.S. dollar back in the 1980s.  It used to be a middle-class country!

"On the other hand, we had great news in the U.S.

"It was a good day for the U.S. economy; for workers; and, yes, for President Trump.  It is not the same down in Cuba and Venezuela."