For some reason major news sources had coverage of Venezuela today. The Wall Street Journal had an article on Chavez and how he manages to keep control over the country. (Need subscription to read it). Scott from burtonterrace as usual is quite diligent in making sure I don’t miss anything (He clearly wakes up earlier, I can’t do international rounds until around noon anyway!!) by sending the Washington Post editorial on the agreement between Chavez and the opposition and Juan Forero’ article from the New York Times. As usual, I found Forero’s article too oversimplified, superficial and still shows some bias.
The Devil's Excrement
Observations focused on the problems of an underdeveloped country, Venezuela, with some serendipity about the world (orchids, techs, science, investments, politics) at large. A famous Venezuelan, Juan Pablo Perez Alfonzo, referred to oil as the devil's excrement. For countries, easy wealth appears indeed to be the sure path to failure. Venezuela might be a clear example of that.
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The Devil's Excrement 
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