- Reaction score
- 64
- Points
- 530
Chavez's power base are the poor.If they cant buy food then eventually they will blame Chavez. It will be interesting to see if his dictatorial powers are renewed in 18 months.A coup would be a welcome alternative.
http://www.nytimes.com/2007/02/17/world/americas/17venezuela.html?_r=2&oref=slogin&pagewanted=all&oref=slogin
http://www.nytimes.com/2007/02/17/world/americas/17venezuela.html?_r=2&oref=slogin&pagewanted=all&oref=slogin
Food producers and economists say the measures announced late Thursday night, which include removing three zeroes from the denomination of Venezuela’s currency, are likely to backfire and generate even more acute shortages and higher prices for consumers. Inflation climbed to an annual rate of 18.4 percent a year in January, the highest in Latin America and far above the official target of 10 to 12 percent.