El Pibe Wrote: ------------------------------------------------------- > "As with most oil economies he appears to have > spent it liberally on the poor" > > errrrrr...most oil economies are kleptocratic, > they're rarely particularly magnanimous socially > speaking. > > And everybody is 'borrowing large sums from > china'. It's not like we all go to the bank of > china applying for loans. > We issue bonds and hope the market buys them, > apart from the usual institutional types, the > biggest buyer of national debt is China, for > everyone. > This oft repeated refrain is a total red herring. > > The economy was tanking before Chavez took power > and he has reined in the worst excesses of rampant > corruption that was by and large responsible for > those troubles. > > The economy isn't in dire straits now, it's just > that compared to boom in Brazil and a resurgent > Argentina (as fragile as that is) it could be said > to have underperformed and not diversified from > oil enough, but hardly a damning indictment of is > it. And given S. Aerica's depressingly long > history of popular coups turned bloody juntas, the > past fifteen years have ben remarkably stable and > peaceful. > > Considering the abysmal human rights records and > concentration of wealth in the leadership of our > oil rich allies in the arabian peninsular or west > africa, Venezuala is practically bloody Norway. > > He seems to have become a pariah for daring to > thumb his nose at the Monroe Doctrine frankly. > > I for one will miss him if only for the donkey > speech!! Totally agree. Has done more for the poor in Venezuela than all of his detractors.