So, you thought I was negative about Venezuela? Well, respected economist Walter Molano recently wrote a piece entitled “Venezuela: Hell on Earth” that will make you quiver. You see, Molano is the guy you read if you want to know what is going to happen in two or three years and since he does not work for a big investment bank he tells it like it is. But his last piece is so strong, it even makes the Devil worry more:
“As Colombia transforms itself into an oasis of prosperity, Venezuela descends deeper into the dungeons of hell…Under the reckless tyranny of Hugo Chavez, Venezuela’s cornucopia of abundant natural resources, sound infrastructure and skilled labor was squandered away.”
Rough, no? But we all know it’s the truth. Chavez is surrounded by the most incompetent of Venzuelans who create little fiefdoms to impose their will, whether it is gaining power or making money.
Meanwhile, the fanatics cheer, always reminding you a an irrelevant past or what Chavez will do in the future, ignoring 12 years of no accomplishments.
In the end, it is sad. Venezuela has really squandered twelve years and the biggest oil windfall in its history and all Chavez and cronies can do is hail non-existing achievements like the 3 million Hectares expropriated and “under production”. Funny, if they were, agricultural production would not be down. But tell that to a fanatic.
But the propaganda machine keeps raving about the fake past and the failed future and the fanatics keep cheering. They always will, ask the Cubans…
But Cuba is looking to get out of it, while Venezuela’s economy shrinks and shrinks, as politics rules the day and Venezuela’s is the only economy in emerging markets to have shrunk in 2010, the one with the worst inflation at 27% and the one with increasingly limited democracy and basically an ignorant and incompetent Dictator running the country.
Well, I don’t know if Venezuela is Hell on Earth, but it is certainly Purgatory and going down…
Note added: A reader notes that Purgatory is not a place according to the Pope, but I have enough with political controversies to introduce theological ones.