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Tag Archives | Venezuela

Venezuela runs out of toilet paper, govt blames opponents

The gang at Zero Hedge are in high snark over news that Venezuela has run out of toilet paper with the government blaming opponents for a media campaign that has created an excessive demand. The government will be importing 50 million rolls to make up the shortfall. The problem appears to be artificially low price […]

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Note to Hugo Chavez. Oil is fungible

Socialist Unity on Venezuela’s threat to stop selling oil to the US if attacked by Columbia If actually carried out, such a threat would be a big blow for the Venezuelan economy. More than 90 percent of its export earnings are from oil. The United States is the top buyer of oil from Venezuela, which […]

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Hugo sings

http://www.youtube.com/watch?v=d55CSEZvAP0&feature=player_embedded Marc Cooper This is so stupid, I am not going to bother to translate this little ditty from Hugo Chavez. The gist of it is that he expresses sorrow for all of the poor people condemned to live in the U.S. and then he sings a song about how he doesn’t love Hillary Clinton. […]

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Venezuela

It’s not hard to find criticisms of Hugo Chavez in this country. Their socialist experiment, we are told, is doomed for failure. The recent news of Venezuela’s currency devaluation and two-tiered exchange rate have some shrieking failure. Mike Shedlock, on his blog Mish’s Global Economic Analysis, had this to say, Turn out the lights. The […]

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Yo, Venezuela. Being socialist doesn’t repeal laws of economics

Venezuela has just devalued its currency, and also instituted a two-tiered system of exchange – three if you count the black market. “The bourgeois are already talking about how all prices are going to double,” [President Hugo Chavez] said “People, don’t let them rob you. Denounce it and I’m capable of taking over that business.” […]

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Chavez gets thuggier

Coming soon to Venezuela: Armed militias answerable only to Chavez There is no ambiguity on where the militias’ loyalties lie. Not with the Venezuelan state, not with the military, but directly and personally with Chávez. Early on with Chavez, when I thought Chavez represented something truly new and democratic, a friend who has followed South […]

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Chavez blinks

Won’t stop oil shipments to U.S. It was a toothless threat anyway. If Venezuela stopped shipping oil to the US, the US would just buy it someplace else.

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Unclear on the concept of global markets

Venezuelan President Hugo Chavez, who has threatened to cut off oil sales to the U.S., said reports that making such a decision would hurt his country’s economy are false, and that Venezuelan oil can be sold anywhere. Well of course it can. And by the same measure the US can buy oil anywhere, including from […]

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