With 94.2% of the vote counted the Electoral Board announces that the Si vote, in favor of the amendment that allows the indefinite reelection of all elected positions was approved with 54.3% beat the No option with 45.3 %. The opposition gets more than five million votes. Chavez can run again in 2012. Wish him luck given the economy.
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 
February 16, 2009 at 5:34 am
Roger: We have never seen the train wreck that is about to become our economy. In 2003 Chavez popularity dropped sharply, this is going to be ten times bigger. People in Venezuela will punsih him for it, only oil will save him. And hee needs $70 by the end of this year, not in 2012
February 16, 2009 at 5:28 am
Consider He just won after years of shortages, inflation, crime and what not. Considering that this downward spiral has been going on since the last oil bust in 1982 i guess Venezuelans are just numb to it. I guess that things will jut have to hit rock bottom. Even here in the US there are those who think that the Global Economy is fiction and the US can do what it wants. Never mind a country of less than 30Million that does not create any wealth just pumps it out of the ground and spends it. Last oil forecast I saw was for about 70$ bbl by about 2012 or so.
February 16, 2009 at 2:48 am
The way things are going, Chavez may be living in some warm country with no extradition treaty with Venezuela by 2012. By that time, unless oil prices, and the world economy, rebound, Chavez may depart long before that date.