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Heavy-Handed Politics

"€œGod willing, with the force of God behind it, we shall soon experience a world
without the United States and Zionism."€ -- Iran President Ahmadi-Nejad

Saturday, February 17, 2007

What's in store for Venezuela?

Daniel Drezner posts Things begin to fall apart in Venezuela citing a news report in the New York Times.

Similarly, three weeks ago, I posted a commentary noting:
  1. Since 2004, the Venezuelan Central Bank has transferred about $22.5 billion to accounts abroad by the Chavez government, and about $12 billion of that remains unaccounted for.
  2. Inflation is up to 17 percent and rapidly rising.
  3. Venezuela is now down to 126 out of 130 nations in the 2006 Economic Freedom of the World the most rapid decline ever (in 1995 it was No. 75).
Keep in mind, this precipitous fall is transpiring during a time of an economic boom in its' oil industry. Chavez has learned well from his mentor, Fidel. And if it continues, this course will lead the Venezuelan people to the same fate as their Cuban counterparts.


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