Venezuelan president Hugo Chavez's mismanagement of the economy, and resulting inflation and unemployment, has created a growing opposition. The biggest complaints have to do with shortages of basic consumer goods, and the resulting inflation as people bid for the scant supplies of food, clothing and other basics. The annual inflation rate is now over 30 percent. Chavez, caught up in his own radical socialist rhetoric, refuses to admit to any error, and blames a growing list of foreign enemies for the problems. Chavez has taken control of more of the economy, which only makes the problems worse. This year, Venezuela will be the only South American country to see its economy contract. This is likely to get worse, as Chavez increases his controls on foreign currency, banking and product distribution, it becomes impossible for a growing number of businesses to stay in business.
Venezuela is ranked one on this list of entities likely to default on their debts. Amazing. Hugo could screw up a wet dream.
Hugo has built a large following of armed Venezuelans dependent on him for their jobs. Will this base of support be enough to keep him in power as the country spirals into economic chaos?
Or will Chavez, with a military he's screwed up with his equally enlightened theories about military affairs, seek a foreign adventure to rally the people?
If so, I think Hugo would have too much sense to take on Colombia.
But the Netherlands might want to review their Western Hemisphere defenses in the Dutch Antilles, just to be safe. They are close to Venezuala. And the Netherlands might be seen by Hugo as a small enough and distant enough imperialist power to take on in the name of standing up to the West.
Hugo is an idiot. But he's an idiot with power and followers.
