This graph was made with data from the Venezuelan Central Bank and shows the Net Foreign investment per year since the year before Chavez took over. The data is up to September and this year is negative because foreign companies have been sold to local investors and taken their money out. Some people may think Venezuela needs no foreign investment, but I disagree, GDP per capita here is low, Venezuela is not a rich country and needs all the investment it can get in order to raise the people’s standard of living. 
Net investment in Venezuela by foreigners in billions of US$ since 1997. The data for 2006 is up to September. Source: BCV
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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