Random musings on politics, religion, tropical agriculture, and plant ecology
Tuesday, December 23, 2008
Venezuelan unemployment at lowest level in 10 years
So....Venezuela is announcing that their unemployment rate fell, in November of this year, to just over 6%: the lowest level in a decade. How many other developing countries have an unemployment rate of 6%? The unemployment rate in Michigan is already around 9% and projected to increase to 10% this coming year: the unemployment rate in South Carolina is projected to be 14%. In truth, it seems like it's the capitalist countries that are being sucked into a death spiral of unemployment and economic collapse, not Socialist countries like Venezuela. And that's as one would expect, since a Socialist country has more government internvention in the eocnomy, which can be used to create greater aggregate demand.