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| Venezuelan government curbs consumption despite oil boom
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| For the first time in four years, Venezuelans' purchasing power has dropped along with the sales in some sectors (Photo: N. Perdomo) |
Gustavo García, professor at the Institute of Higher Education
in Business Administration (IESA), is afraid that "in the midst
of the lengthiest oil boom in history, Venezuelan economy is
slowing down because economic unbalances hinder the productive
sector. Venezuela is moving towards stagflation, that is, high
inflation rates and slower economic growth."
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Chávez asked to respect Spanish institutions
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Spanish head of government José Luis Rodríguez
Zapatero advised Venezuelan President Hugo Chávez one
more time that he should respect Spanish institutions, following
Chávez's renewed criticism of the King of Spain. |
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Michael Rowan / Chávez and poverty
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Thirty years ago, it looked like Venezuela would join the
rich countries. But every government since 1976 has made Venezuela
poorer, especially Chávez's. In the name of nationalism
and socialism, the pied piper of populism has produced only
more poverty. One wonders if they'll ever wake up to what
they're doing.
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Quotable
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"Do not be ludicrous, Colombia's government. I challenge you
to produce one single evidence, not imbecile documents (…) It
is difficult to have relations with a government in this way.
Ah, economics, trade! May them keep going. As for personal relationships,
what for?" Venezuelan President Hugo Chávez,
speaking about the files found in a laptop seized from FARC
Raúl Reyes by the Colombian government and analyzed by
Interpol
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