Borrowing at Credit Card Rates
Let’s be clear: for a country to issue a sovereign bond with an 11.95% coupon is really just a polite way of saying it’s broke. Moderately responsible individuals...
Economy
Annals of Goal Post Locomotion
In 2008, PDVSA said they planned to produce 5.8 million barrels per day by 2012. In 2009, it was 4.9 million b/d by 2013. In 2010, they pledged...
Chuspa Chronicles
Don’t miss The Great Miguel’s latest post on the dashed revolutionary hopes of the fishermen in Chuspa. It’s an amazing read.
Conditional cash transfers suck ...
… or so says this new paper by Javier Báez of the World Bank and Adriana Camacho of Bogotá’s Universidad de los Andes. The authors wants to measure the long-term...
Paging Dr. Who
Personally, I like my time sequential. Starting at the beginning and running straight through to the end. Which is why I don’t appreciate the crazy time-warpy feeling I...
It's not just the waste, it's the opacity
It’s rare that Juan and I disagree quite as virulently about any issue as we do about the deficit, so I do intend to exploit this controversy fully....
Nurses ¡Sí! Aluminum-lined Moneypits ¡No!
Honestly, Juan, I think you’re malversando your outrage, spending-wise. If you really want to get your fiscal responsibility juices flowing, forget about the pay settlement for nurses and...
Marquise de Sader
Now that chavista Health Minister Eugenia Sader has shown the nation that sewing your lips, bleeding on the flag, going without food for 38 days, and crucifying yourself...
Why Innumeracy Matters
Last year, your salary was Bs.100. And you could buy a sack of potatoes for Bs.100. This year, a sack of potatoes costs Bs.130. And your salary went up...
So, how did we get screwed this Semana Santa?
Ah, the holiday-smoke-screened Fuck-You Decree: it’s almost as much a Venezuelan Easter Tradition as enormous traffic jams and Bipolar Pisillo. This year, Chávez stuck to the classics. Nothing fancy,...
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