http://bit.ly/8rbGvJ - - - The socialist Chavez believes the state should have a weighty role in managing the economy. During his 11 years in office he has nationalized most heavy industry, and business and finance are tightly regulated.
The devaluation is politically risky but means every dollar of oil revenue puts more bolivars in government coffers. That allows Chavez to lavish cash on social projects and fund salary increases ahead of parliamentary elections in September. - - - Over here we call the latter part of that policy -- the lavishing of political projects with cash before elections -- "economic stimulus"... which is why the 70% of the $1 trillion dollar shake down passed almost a year ago is marked for being spent THIS year, not last year, when it was supposedly urgently needed. The man who has hired more Mao-quoting, Chavez-approving czars and already nationalized more industries than anyone thought a US President could or would will be taking his cue from his Latin doppelganger and doing the same before 2012. It's one of those "failed polices of the past" that keep getting resurrected by self-appointed political messiahs who know jack sh*t about economics. He will have no choice. Well, no *political* choice, anyway, once the the fed-inflated dollar carry trade bubble goes "pop." That very well may happen this year. - Publius -- "It ought never to be forgotten, that a firm union of this country, under an efficient government, will probably be an increasing object of jealousy to more than one nation of Europe; and that enterprises to subvert it will sometimes originate in the intrigues of foreign powers, and will seldom fail to be patronized and abetted by some of them. Its preservation, therefore ought in no case that can be avoided, to be committed to the guardianship of any but those whose situation will uniformly beget an immediate interest in the faithful and vigilant performance of the trust." [Federalist Papers #59] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
