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With annual inflation raging at an est. 27%...President Hugo Chavez has frozen the prices of 18 consumer products...including fruit juice, mineral water, toilet paper, detergent, soap and shampoo...many from multinationals like Colgate and Pepsi-Cola.
Another 15,000 products may also have their prices frozen.
The 22 Nov. freeze has set off a buying and hoarding spree...with supermarket shelves cleared of the goods.
Chavez says that he wants to "protect people from capitalism".
"The market has...become a perverse mechanism where the big monopolies, the big trans-nationals and the bourgeoisie dominate and ransack the people," he said.
Cooking oils and rice are have been regulated since 2003.
AND: China will loan Chavez another $4bn...to improve oil output, electrical generation and increase aluminum and iron ore production.
Beijing has loaned Chavez $32bn in loans for 410,000 bbls of oil...daily.
http://www.foxnews.com/world/2011/11/23/china-agrees-to-loan-venezuela-4-billion/
