The Central Bank of Venezuela FINALLY publishes the first quarter results

The economy shrunk by an official 5.8% in the first quarter of 2010FIVE POINT EIGHT PER CENT.

You want to know why?  Read the two preceding posts and you will have a good hint.

But agricultrue is not the main culprit since it went South long ago.  This time is manufacturing (-9.9%) and commerce (-11.8%).  that is right, there is less to shop for but there is less people to shop for too, something that chavistas will probably find positive.  And with the inflation of 5.6 in April, well, I do not need to explain to you what this all means. Oh, heck!  I will explain it to you: Chavez economic ship is sinking faster than expected.

Ah!  I forgot, Giordani IS STILL in charge!!!!

And if you think that maybe they will start getting the hint that they might just need to correct something, forget it!  Today Felix Osorio the Food minister stated that they will go against any retail chain that considers food a merchandise (mercancia).  Yes, that is right, I AM NOT MAKING THIS UP!  Nor the title "ministro de la alimentacion".  You can read it here in English or the original in Spanish here.  I suppose soon we will be told to produce food for free becasue you know, it is for El Pueblo!