Venezuelan minister suffers from financial dislexia

Dyslexic finance minister Merentes

Last time an airline pilot came out of the cockpit saying that the plane was no good and  was going to crash he was subdued by the passengers and sent to the lunatic asylum as soon as the co-pilot landed the aircraft.

However, Nelson Merentes, the Venezuelan Minister of Finance just went on TV, see http://www.noticias24.com/venezuela/noticia/190656/nelson-merentes-el-dolar-paralelo-perturba-y-coloca-ansiedad-en-la-sociedad-venezolana/ to say, (1), that the country needed to produce more, and (2),  that the economy of the country is in disarray because the parallel exchange rate has jumped the rails (it is now Bs. 38 to the dollar as compared to the official rate of Bs. 6,3 to the dollar). Mr. Merentes blamed this phenomenon as the reason for all national problems and he returned home without any  attempt made by Venezuelan authorities to place him in a straitjacket. 

The minister loves  clichés like "we need to produce more" and puts the cart before the horse. The problem with the Venezuelan economy is not the collapse of the national currency. This is the result of years of ineptitude and corruption in the handling of the economy by the people in government, he among others.   

Let's hope that some day dyslexia for cure is found.