Venezuela

America: The Next Venezuela

As we write, a classic catastrophe is developing in Venezuela. The bolívar — the Venezuelan currency — is expected to lose about 99.99% of its value this year. How do these crises happen? Slowly…and then…

The World’s Funniest Money

Venezuela lurches from one absurdity to the next. It owes money all over town. It can’t pay. Its creditors have cut it off. Who wants a currency of no value, backed by the full faith…

Markets & Money