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.
This is a picture of the leaders of Chavez’ party PSUV after they had the joy of talking to their boss from Cuba. They all tweeted in unison when this happened, but somehow the picture does not fit the news, or the faces do not fit the news. As we say in Spanish the “carometro” or “facemeter” is not the bearer of good news.
If a picture is worth 10,000 words, then judge Hugo’s health by these faces.
Thanks ErneX!
Is that cute or what?
Markets, love them and hate them!
(Thanks to you know who!)
Note added: Venezuelan bonds went up sharply today, as people bet that Chavez may be out of the picture in the future. It is not a bad bet, if Venezuela’s risk goes down 300 points, the Global 2027 bond goes up 19 points or 25%. If nothing happens you collect 13% annualized.
Given the uncertainty and rumors about President Hugo Chavez’ health, today’s warning from the President’s brother Adan Chavez is quite ominous. In a speech in Barinas State, Adan Chavez said:
“The revolution was born in the Bicentennial era and it made it through elections and we want it to continue that way, following a peaceful path that allows us to build Bolivarian socialism, but aware of the dangers that beset us and that the enemy does not rest, we can not forget as authentic revolutionaries, other methods of struggle. ”
He then proceeded to quote Che Guevara:
“It would be inexcusable to limit ourselves to only the electoral and not see other forms of struggle, including the armed struggle.”
Combined with the uncertainty over Chavez’ health, the fact that the President has no successor that could match his electoral abilities, this warning represents a very real threat to what little is left of democracy in Venezuela and should be condemned by the opposition and international organizations.
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The Devil's Excrement 