Chavez the micromanager barely understands his own numbers

February 6, 2003

 


Hugo Chavez was on TV last night, his usual self, all the problems with the economy are the result of the efforts of the opposition. But, what really amazed me is that he showed graphs which are either false or he simply has no clue about what he was saying. He said that the Venezuelan economy was recovering in the third quarter of 2002, GDP growing by 5.5%, in reality, GDP contracted the first three quarters of 2002, and in that infamous third quarter it actually shrank, but less than the previous quarter. He also said inflation was slowing down, which is false and that unemployment had been contracting, also untrue. Long live the virtual revolution!

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