1/22/2008

Meanwhile, back in Venezuela: hard to believe that this oil rich country could have any problems at all, then nobody ever told anyone other than Hollywood Movie stars that Chavez had any brains at all. Inflation is approaching the catastrophic phase, everyone forgetting that it is the poor and middle classes that get ruined by it. The country is being ruined by price controls which His Gloryness has imposed on more than 400 commodities. What does this mean? Why it means that the producers of commodities refuse to farm, mine, or whatever it is that is produced under price controls, so shortages are now rampant everywhere. To make things even more like Wonderland, Chavez has nationalized the toll roads. Why bad? Well the toll roads were never national and all revenues went to states; by coincidence it is the state governors who oppose Chavez the most. So the chaos deepens. All this while 300bln dollars worth of oil is being exported each year and the country stays broke.

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