Venezuela On the Road to Economic Ruin ?

Discussion in 'Economics' started by tomahawk6, Feb 17, 2007.

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  1. Perhaps. But its beginning to look more like Zimbabwe with every passing day.

    http://www.nytimes.com/2007/02/17/world/americas/17venezuela.html?_r=2&oref=slogin&pagewanted=all&oref=slogin

     
  2. America hates Venezuela and will do anything to cast it in a poor light - having said that Chavez has been relying on his increased oil revenues (tripled since last government) to fund all his schemes. He's gradually taking power for himself and is causing problems. However, Zimbabwe's inflation in 2005 was over 1000%, they're not quite there yet!
     
  3. Can't say I luv King George but Chav ez is stark raving Bonkers.
    john
     
  4. *Sits back and waits for Sven to arrive and kick off*
     
  5. Oh, but they will, they will. Perhaps not tomorrow, perhaps not even next year, but, provided el Presidente manages to cling to power, the note of 1,000,000 VEB (two of which will probably buy you a cup of coffee) may eventually have his effigy.

    It's Latin America, and, with no IMF and no Washington Consensus (Chávez's bête noire), it's really a piece of cake.