Democrats Rejoicing!
Democrats throughout America rejoiced tonight, as their favorite leader, Hugo Chavez, won re-election in Venezuela.
The vote count with over 70% counted was 61 to 38%, so Hugo won't lose, which will keep Jimmy Carter, Cindy Sheehan, Jesse Jackson, and Danny Glover very happy.
Too bad for the people of Venezuela that they get six more years of Hugo destroying their economy. As the Christian Science Monitor and Rigzone (Oil Industry Rag) reported in May Venezuela's oil output; the lifeblood of their economy; has fallen by 50% since Hugo was first elected in 1999. In fact, Rigzone noted they were having to buy oil off the open market to meet their own contracts.
Considering Hugo's treatment of foreign investors, it's unlikely that the large multinational oil companies are going to rush in to shore up the infrastructure that he's destroying, or open the new fields his cronies haven't been trying to locate. Instead, they'll go elsewhere, and Venezuela will suffer.
Hugo's socialist model will probably work to get him through most of the next six years, but at some point the working class who are being squeezed out, and the investor class, who are leaving what used to be a profitable country will rise up, and toss him. When the large nationwide strikes start happening (and they will, bookmark this) because those who used to work find themselves peasants, Hugo will go away. Then what will Danny, Jesse, Cindy and the rest who've praised him for his anti-US sentiment have to say.
(Update at 7:15am CST) Hugo can, under current Venezuelan law serve only 3 terms as president, however he mentioned last night that a Constitutional change may be possible, considering the will of the people. See my note above, I don't think he'll need to make that change.
H/T to Marathon Pundit for the election results
Technorati Tags: Venezuela, Hugo Chavez, Socialism, Oil, Democrats, Jesse Jackson, Cindy Sheehan, Jimmy Carter
The vote count with over 70% counted was 61 to 38%, so Hugo won't lose, which will keep Jimmy Carter, Cindy Sheehan, Jesse Jackson, and Danny Glover very happy.
Too bad for the people of Venezuela that they get six more years of Hugo destroying their economy. As the Christian Science Monitor and Rigzone (Oil Industry Rag) reported in May Venezuela's oil output; the lifeblood of their economy; has fallen by 50% since Hugo was first elected in 1999. In fact, Rigzone noted they were having to buy oil off the open market to meet their own contracts.
Considering Hugo's treatment of foreign investors, it's unlikely that the large multinational oil companies are going to rush in to shore up the infrastructure that he's destroying, or open the new fields his cronies haven't been trying to locate. Instead, they'll go elsewhere, and Venezuela will suffer.
Hugo's socialist model will probably work to get him through most of the next six years, but at some point the working class who are being squeezed out, and the investor class, who are leaving what used to be a profitable country will rise up, and toss him. When the large nationwide strikes start happening (and they will, bookmark this) because those who used to work find themselves peasants, Hugo will go away. Then what will Danny, Jesse, Cindy and the rest who've praised him for his anti-US sentiment have to say.
(Update at 7:15am CST) Hugo can, under current Venezuelan law serve only 3 terms as president, however he mentioned last night that a Constitutional change may be possible, considering the will of the people. See my note above, I don't think he'll need to make that change.
H/T to Marathon Pundit for the election results
Technorati Tags: Venezuela, Hugo Chavez, Socialism, Oil, Democrats, Jesse Jackson, Cindy Sheehan, Jimmy Carter
posted by Crazy Politico at 7:15 AM
5Comments:
Won't it be nice to see a Latin American socialist democracy fail on it's own merits (or lack thereof) instead of being brought down by American intervention?
Then again, what if it doesn't fail? Then what?
If it doesn't fail it will in all likelihood end up as Cuba is, a country with one source of everything, though this time it's China not Russia, and little outside help for their economy.
Raul Castro is just waiting for Fidel to die so he can normalize relations with the US, Venezuela will end up the same way.
China is nice for certain things but the one thing Venezuela needs is help with their oil industry, and China is 40 years behind the power curve in that area. Iran, while also friendly, is no bigger help, they still have foriegners running their oil industry, they just don't tell the outside world.
Good points all around. The technology question is one that Chavez doesn't seem to have an answer to.
But still, it will be interesting to see what happens if left alone and not blockaded or invaded or otherwise hamstrung.
Quite an experiment, don't you think?
No matter how many feathers I glue to my arms and how I hard I flap my (feathered) arms I will never fly because humans just aren't put together that way.
Socialism is also doomed to fail for the same reason. Humans aren't (psychologically and spiritually) put together that way. It will inevitably fail or simply become a dictatorship with him owning everything because socialism is impossible.
Shoprat, I agree with you on socialism. China is a great case in point. They maintain the "communist" moniker, but they are anything but, realizing free markets and business capital are the way to prosperity.
PT, Venezuela knew that, bought into the "it isn't fair someone has more" theory, and will now try what's failed in China, Russia, Cuba and every other socialist country.
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