The Hyperinept by Teodoro Petkoff

January 20, 2010

The economic  and electricity crisis were announced years ago. In both areas a lot of people got tired of noting that the course set by Chacumbele led inexorably to this disaster we are experiencing today.

But the inept one did not to hear. Drunk with petrodollars, he thought he had invented a new type of economy. But the country itself had learned from its previous crises and many people (including pro-Chavez ones that whispered privately in cowardly fashion, afraid to sing the truth to the inept one) noted that Chacumbele’s economic policy was unsustainable. Unfortunately, the facts have been proved right.

But the inept one does not learn the lesson. Now he is trying to skirt his responsibility. It’s the worst possible behavior. It has been shown that when in a crisis, governments that say the truth, as harsh as it may be, people react positively and sympathetically and are willing to sacrifice. But when you lie, people get pissed. When people hear the inept one say “¿Who manages the dollars? ¿Do the people manage them? ¿No, they are manage by the bourgeoisie, which is  accustomed to cheap dollars,” people know that he is lying and they are being manipulated.

The dollars are managed between PDVSA, the Central Bank, Fonden and the government.

After eleven years of “revolution” now the inept one attempts to convince the “people” that the dollars are handled by the bourgeoisie. If so, what is this revolution which puts its fundamental resource in the hands of the bourgeoisie? “The dollars are produced by the bourgeoisie? No, PDVSA produces them. ¿Does PDVSA give them to the people? No, they are sold to the Central Bank and with the Bolivars it pays taxes to the government, who handles these Bs and the dollars that now passes directly the Central Bank.

The money, therefore, is managed by the government. The exchange controls, to control the management of dollars, was established by the government, not the “bourgeoisie.” The “very cheap dollar” was established by the Inept one and he maintained it that way for five years while, incidentally, from the productive sectors of the bourgeoisie, he was warned that it was destroying the productive apparatus and causing and overflow of imports. The naive ones who still believe that Mr. Saman can possibly control the rapid increase in the cost of living by closing businesses, will soon face reality.

Just for the record, we anticipate the inept one what’s coming up in the future with his current economic policies. You’ll have plenty of Bs,between those produced by your devaluation and that produced by the 7 billion dollars you took from the Central Bank. You are going to spend that excess money  electoral excesses.

A temporary joy only. There will be more inflation this year than last, because there will be more Bolivars chasing goods and services and the bolivar will continue to lose value, so in reality the relationship between the bolivar and the dollar will be higher, which is measured at the parallel market . This will result in higher inflation and in a while you will face the panorama of having  to devalue again. Sooner or later there will be more zeros on the notes of the  “strong” Bolivar. By the way, there will be neither economic recovery nor a significant improvement in exports. Continue, thus, inept one on this course and in a while he himself will understand the Chacumbele syndrome.

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