Leadership on the Gas Subsidy
Here’s a fun question to ponder: how much do Gasoline Subsidies really cost Venezuela? Everybody knows the answer, right? With gas fetching just a few US cents a gallon,...
Economy
Lukashenko: your oil is in Lake Charles
A little nugget in my Inbox courtesy of a reader. You know how Hugo Chávez is always boasting that he wants to ship oil to other countries, how he...
Happy new taxes, human beings!
Two days before the New Year, Hugo Chávez’s economic svengali let everyone know they will be significantly poorer in 2011. Starting January 1st – yes, you have two days...
The Banality of Incompetence
One story that should be getting more play abroad is the simply amazing tale of the oil Venezuela is selling to China for $5/barrel…only for the Chinese to turn...
About those Bandagro bonds...
Setty rips my post and destroys my credibility. I had it coming. Post duly updated. The great Miguel provides some more background.
Love and milk
It has long been known that the Southern shores of Lake Maracaibo contain some of Venezuela’s richest, most productive lands. But this is also a land seeped in...
Sixth Circuit says: "Expropiese!"; Updated as probably, not quite
There is a long, tortous story behind a series of bonds colloquially known as the “Bandagro bonds.” I don’t know the details very well, but the outline is...
Economic brutality
Hugo Chávez announced yesterday that he was raising taxes … in the middle of a recession. In announcing a rise in the Value-Added Tax, which hits consumers directly,...
The vanishing mirage
A few years ago, chavista apologists boasted about Venezuela’s vertiginous growth rates, bragging them about as Exhibit #1 when vouching for the success of chavenomics. Those days are...
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