:: blame the extended gestation.... ::

:: Monday, October 31, 2005 ::

Hugo Chavez is hugely popular in his home country of Venezuela. He's hovering at 70% approval. The question is can he make it last? Todays article in the NYTimes looks at Venezuela and their version of 21st century socialism. The article goes on to note

Still, there is restlessness in the boardrooms, with executives worried about government intervention, which is sometimes seen as haphazard and improvised. Economists say the government has not made the investments needed in the oil sector. And political analysts and mainstream economists warn of recession and dourly note that foreign investment is about a third of what it was five years ago. They say that Venezuela's vast oil profits give the illusion of prosperity - the economy's growth rate is 9.3 percent - but that if prices fall, or Venezuela's growing spending catches up, the economy could founder.

I guess we have to wait and see what happens.

:: Jim Nichols 10/31/2005 12:42:00 AM [+] ::
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