Stuart Varney: ‘Venezuela Is a Good Example of What We Should Not Be Doing’

EARHARDT Here to weigh ░░░░░░░░ is Stuart Varney host ░░░░░░░░ Varney Company on the ░░░░░░░░ Business Channel VARNEY Good ░░░░░░░░ It will not work ░░░░░░░░ will not work Venezuela ░░░░░░░░ now what I would ░░░░░░░░ a wheelbarrow economy In ░░░░░░░░ words you have to ░░░░░░░░ a wheelbarrow full of ░░░░░░░░ to buy anything That ░░░░░░░░ how bad inflation has ░░░░░░░░ So this week they ░░░░░░░░ this new plan in ░░░░░░░░ issuing a new currency ░░░░░░░░ is ridiculous All they ░░░░░░░░ doing is taking five ░░░░░░░░ off the end of ░░░░░░░░ old currency and turning ░░░░░░░░ into a new currency ░░░░░░░░ of 6 million Bolivars ░░░░░░░░ the dollar they will ░░░░░░░░ off the last five ░░░░░░░░ and make it 60 ░░░░░░░░ to the dollar stronger ░░░░░░░░ to the dollar That ░░░░░░░░ not going to work ░░░░░░░░ You cannot break a ░░░░░░░░ more thorough than this ░░░░░░░░ has broken a country ░░░░░░░░ by Hugo Chavez And ░░░░░░░░ is now creating chaos ░░░░░░░░ Colombia and Brazil Huge ░░░░░░░░ in Brazil They re ░░░░░░░░ out Venezuelans because of ░░░░░░░░ violence taking place at ░░░░░░░░ border It s chaos ░░░░░░░░ Central and South America ░░░░░░░░ Venezuela has become the ░░░░░░░░ of Latin America People ░░░░░░░░ left right center creating ░░░░░░░░ refugee crisis all around ░░░░░░░░ a chronic catastrophe in ░░░░░░░░ EARHARDT What about our ░░░░░░░░ here in America and ░░░░░░░░ regions VARNEY I want ░░░░░░░░ make a point that ░░░░░░░░ is a good example ░░░░░░░░ what we should not ░░░░░░░░ doing Last Week Elizabeth ░░░░░░░░ wanted to have political ░░░░░░░░ over business She wanted ░░░░░░░░ business to go to ░░░░░░░░ and beg for permission ░░░░░░░░ do business That is ░░░░░░░░ control over enterprises It ░░░░░░░░ a terrible idea That ░░░░░░░░ why Venezuela has gone ░░░░░░░░ the drain DOOCY In ░░░░░░░░ Maduro is suggesting a ░░░░░░░░ minimum wage Some wages ░░░░░░░░ go up 3 000 ░░░░░░░░ which will bankrupt the ░░░░░░░░ VARNEY: “It is impossible.”