Chavez touts new discount 'socialist' stores

Chavez grasp of the economy is just spot on.

President Hugo Chavez on Tuesday announced a new chain of government-run, cut-rate retail stores that will sell everything from food to cars to clothing from places such as China, Argentina and Bolivia. "We're creating Comerso, meaning Socialist Corporation of Markets," Chavez said at the opening of a "socialist" fast-food location for traditional Venezuelan arepas (cornbread). "They'll see what's good. We'll show them what a real market is all about, not those speculative, money-grubbing markets, but a market for the people," said Chavez in his drive to change Venezuela from a market-based economy to a socialist one. "We're going to challenge all that junk food that just fattens people up," he added referring to the arepa stand he opened to the public. Chavez said the Comerso chain of stores will include "a network of subsidiaries" that will sell new vehicles directly imported from China and Argentina, "without capitalist intermediaries." "We're going to defeat speculation. Private individuals in sales can still sell, but they'll have to compete with us and with a people who is now fully aware," Chavez said. He said the new discount retail chain will also sell clothing and furnishings imported from Bolivia, Venezuela's closest leftist ally in the region.

So private individuals who sell goods and services that pay taxes to the government will now be run out of business with their own tax dollars which leaves what? I don't think Chavez understands what is a socialist market. The problem with socialism is soon you run out of other people's money.