You seem knowledgeable. Why can external currency changes (USD to bolivar) cause such strong inflation internally? I would think that at some point no one in the country can buy an iPhone, but how does that turn into no one being able to buy milk (or other essentials)? Do countries really rely so strongly on the international market for essentials?
edit: I could see a terrible scenario playing out where domestic goods are now so damned cheap for anyone not in the country that the producers are incentivised to ship their stuff overseas to rich foreigners. It could be the domenstic buyers that are the only people who get screwed. This is all terribly complicated.
edit: I could see a terrible scenario playing out where domestic goods are now so damned cheap for anyone not in the country that the producers are incentivised to ship their stuff overseas to rich foreigners. It could be the domenstic buyers that are the only people who get screwed. This is all terribly complicated.