Panic in the Swap Market
Quico says: I’ll own up, I have no idea what the hell is happening in the bolivar swap market. Some prominent Caracas exchange operators have stopped trading altogether...
Francisco Toro
Quico Toro is the founder of Caracas Chronicles.
Choices, choices, choices...
Quico says: Now that el jefe has announced that there isn’t enough money to go around this year, it stands to reason that any spending increase has to...
Electrifying
Quico says: In the current New Republic, Enrique Krauze writes a remarkable essay grounding Chávez’s authoritarianism in its historical context. Whether he’s covering familiar ground or striking off...
Alí, meet Bernie. Bernie, Alí.
Quico says: It’s funny. Last year, when Bernie Madoff was caught fabricating reports designed to make it seem like he was still holding $50 billion worth of investors’...
Lies, damn lies, and Fonden
Quico says: One aspect of this whole Economic Adjustment story that isn’t getting enough attention is “the development fund that didn’t bark”: Fonden. Sold to us for years...
Chávez Brain-Mouth Malfunction du Jour
Chávez says: “We’re going to face down the separatist intentions of the regional governments in Zulia, Táchira, Miranda, Nueva Esparta and the mafias that stand behind them.” …Zulia…ok,...
What exactly happened on Saturday?
Quico says: In response to my insta-analysis of last night’s economic announcements, a reader who, ahem, actually understands macroeconomics pipes in to say: I really think you are...
The Package that Dare Not Speak Its Name
Quico says: Chávez’s message today, in a nutshell, was that he plans to raise Value Added Tax and cut overall central government spending from BsF.197 billion in 2008...
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