$150 for a Dozen Eggs – The Venezuela Crisis

With supermarket shelves empty and chronic power shortages, government offices are only open two days a week, crime has drastically spiked and inflation is eroding what remains of Venezuela’s currency value.

According to the Los Angeles Times, it now costs $150 to buy a dozen eggs. And it doesn’t stop there, powered milk, corn flower and just about every other household good.

The New York Times is reporting that Venezuela roughly owes $120 billion to foreign creditors and must make a payment of nearly $7 billion this year, most of it in the final quarter.

Things seem to be getting worse for this socialist country.