He's blown his oil money on the military and Castro Inc. Now his loose spending is coming back to bite him.

Quote
After 14 years in power, Venezuelan President Hugo Chávez faces his toughest election yet, as he deals with a strong opposition candidate and national doubts about his health. Chávez's biggest obstacle in his re-election campaign, however, may be his own record in office.

A soaring crime rate and doubts over whether the populist leader could have done more with the country's vast oil wealth continue to hound him in the final weeks of his campaign.

"It's overwhelmingly clear that Venezuela has wasted the windfall," said Francisco Monaldi, an economist and director of the International Center of Energy and the Environment at Caracas' IESA business school, according to the Associated Press. "You should have had much greater economic growth, much greater reduction of poverty."

Supporters of Chávez, however, argue that there has been progress since he took office in 1998. The infusion of around one trillion 'petrodollars' has allowed him to secure his support among the country's poor through cash handouts, social programs and a number of state-run grocery stores.

http://latino.foxnews.com/latino/news/2012/09/20/chavez-reelection-in-jeopardy-because-spending-and-crime-in-venezuela/?test=latestnews#ixzz276puuSHW

Wait, an economist in San Franfreako? That's like claiming Pelosi is a conservative by comparison to her constituents.

"It's overwhelmingly clear that Venezuela has wasted the windfall," said Francisco Monaldi, an economist and director of the International Center of Energy and the Environment. "You should have had much greater economic growth, much greater reduction of poverty."

Hello!!! It's communism Monaldo, there is no such economic growth under oppression!

Quote from: Solar on September 21, 2012, 06:32:27 AM
Wait, an economist in San Franfreako? That's like claiming Pelosi is a conservative by comparison to her constituents.

"It's overwhelmingly clear that Venezuela has wasted the windfall," said Francisco Monaldi, an economist and director of the International Center of Energy and the Environment. "You should have had much greater economic growth, much greater reduction of poverty."

Hello!!! It's communism Monaldo, there is no such economic growth under oppression!

It amazes me how the left is not only incapable of admitting failure, but they are so surprised when it occurs.

Quote from: CubaLibre on September 21, 2012, 07:04:23 AM
It amazes me how the left is not only incapable of admitting failure, but they are so surprised when it occurs.

They're just disappointed, that once again Marxism wasn't applied correctly, but regardless of it's failure every time, they keep persevering.

Quote from: Solar on September 21, 2012, 07:06:55 AM
They're just disappointed, that once again Marxism wasn't applied correctly, but regardless of it's failure every time, they keep persevering.

The sad part is, Chavez had branded his theory "21st Century Socialism". What they ended up with was 20th century thuggery, nepotism, and corruption.

Quote from: CubaLibre on September 21, 2012, 07:12:05 AM
The sad part is, Chavez had branded his theory "21st Century Socialism". What they ended up with was 20th century thuggery, nepotism, and corruption.

In other words, a repeat of the 18th and 19th centuries of failed communism.
If at first you don't succeed, fail and fail again.