Less than four weeks after starting his new job, Panama\u2019s President Juan Carlos Varela already has a serious challenge to deal with: empty grocery shelves.<\/p>\n
Over the last five years, in fact, food prices have risen more than 24%.<\/p>\n
Inflation isn\u2019t a particularly unusual phenomenon in Central America, or in developing countries in general.<\/p>\n
But what sets Panama apart is that the country is dollarized.<\/p>\n
In its entire 111-year history as a sovereign nation, in fact, Panama has never issued its own currency.<\/p>\n
This means that the country is subject to US monetary policy; when the Fed prints money, negative effects are quickly exported to Panama.<\/p>\n
Of the jobs that the Fed claims they have created by printing $3.7 trillion over the last few years, zero of those have ended up in Panama.<\/p>\n
Not to mention, the Panamanian government doesn\u2019t have an endless supply of foreigners lining up to buy its debt.<\/p>\n
Source: Sovereign Man<\/p>\n","protected":false},"excerpt":{"rendered":"
Less than four weeks after starting his new job, Panama\u2019s President Juan Carlos Varela already has a serious challenge to deal with: empty grocery shelves. Over the last five years, in fact, food prices have risen more than 24%. Inflation isn\u2019t a particularly unusual phenomenon in Central America, or in developing countries in general. But … Continue reading “Panama staring at empty grocery shelves”<\/span><\/a><\/p>\n","protected":false},"author":2961,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[1440,2680,1481,1072,8937],"class_list":["post-14932","post","type-post","status-publish","format-standard","hentry","category-news","tag-dollar","tag-federal-reserve","tag-inflation","tag-panama","tag-qe"],"cc_featured_image_caption":{"caption_text":false,"source_text":false,"source_url":false},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/14932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/users\/2961"}],"replies":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14932"}],"version-history":[{"count":2,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/14932\/revisions"}],"predecessor-version":[{"id":14934,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/14932\/revisions\/14934"}],"wp:attachment":[{"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}