Venezuela

HenryTo · Posted: Mon Sep 03, 2007 4:11 am Post subject: Venezuela

Look for Hugo Chavez to continue to make headlines with regards to the crude markets in the coming weeks, as he essentially has no choice:

http://www.bloomberg.com/apps/news?pid=20601109&sid=aTbIhOtky4CI&refer=home

rffrydr · Posted: Sun Nov 15, 2009 6:38 pm Post subject:

Nice radiomentary of the current state of the state of Venezuala--and its oil:

http://downloads.bbc.co.uk/podcasts/radio/worldbiz/worldbiz_20091006-0106a.mp3
_________________
Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Mon Aug 31, 2009 12:58 pm Post subject:

." Venezuelan President Hugo Chávez compared the retraction with the dry season on the country's plains. "The dry season has arrived for the world economy; it's a crisis of the capitalist model. Growth, measured by capitalist standards, has come to an abrupt stop," he said.

http://www.ipsnews.net/news.asp?idnews=48277
_________________
Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Mon May 25, 2009 1:57 pm Post subject:

Well, I would argue that Venezuela is appropriating sound businesses with high ROICs that drive the Venezuelan economy.

While the US is (reluctantly) bailing out companies that may pose a systemic (or significant social) risk if left to fail. If the US is going to run Google, Microsoft, or Coca-Cola, then I will be much more worried.

rffrydr · Posted: Sun May 24, 2009 10:42 pm Post subject:

Infrastructure is exactly what they think they are building--a bold leap into the carbon cap-and-trade, alternative energy drive that will square that most unholy of circles: Energy. Spend to save. Economically, politcally....morally.

Energy is the common denominator that makes that possible. After LT rates stabilize we should have our crude short about ready.
_________________
Today is the Tomorrow you worried about Yesterday!

arley@itspage · Newbie Joined: 06 May 2009 Posts: 8

What you say is true, Henry, but those had to do with building infrastructure. The government owning most of GM isn't building infrastructure.

Fact is we DO need to start rebuilding ........ for example...... our highway system, and better rail passenger service; and I'm for that ASAP.

HenryTo · Posted: Sun May 24, 2009 11:27 am Post subject:

arley@itspage,

Your point is well-taken but if it wasn't for the federal and state governments, many projects that eventually made a significant positive impact on the US/global economy would never have been undertaken (because the potential ROIC and the amount of capital employed were too uncertain and too large for private interests to justify the projects). A subset of these projects include:

http://en.wikipedia.org/wiki/Erie_Canal

http://en.wikipedia.org/wiki/First_Transcontinental_Telegraph

http://en.wikipedia.org/wiki/First_Transcontinental_Railroad

http://en.wikipedia.org/wiki/Interstate_Highway_System

http://en.wikipedia.org/wiki/Internet

See Felix Rohatyn's latest book: "Bold Endeavors: How Our Government Built America, and Why It Must Rebuild Now"

http://www.amazon.com/Bold-Endeavors-Government-America-Rebuild/dp/1416533125/ref=sr_1_1?ie=UTF8&s=books&qid=1243185889&sr=1-1

Have a great Memorial Day Weekend.

Henry

arley@itspage · Newbie Joined: 06 May 2009 Posts: 8

Question: Is the US starting down the same road as Venezuela? Feels like it.

arley@itspage · Newbie Joined: 06 May 2009 Posts: 8

Welllllll.......... I can't remember when government (state or feds) EVER did much good with anything they control directly. The state and feds are terribly inefficient, so I worry a lot when the Obama government takes over private business. I owned some GM bonds for a time, but sold them about two years ago; so I (thankfully) didn't get the benevolent government offer of thirty cents on the dollar for money I loaned to the company.

I'd like to see the Feds limit themselves to those activities assigned to them by the Constitution, and then basically leave the rest of us alone. But, it isn't just Obama, but Congress too, and the people who demand more and more from the government.

rffrydr · Posted: Sat May 23, 2009 10:18 am Post subject:

GM, 46% share, gets the squeeze....out:

http://www.laht.com/article.asp?ArticleId=335207&CategoryId=10717

http://www.gm.com/corporate/about/global_operations/south_america/vene.jsp
_________________
Today is the Tomorrow you worried about Yesterday!

arley@itspage · Newbie Joined: 06 May 2009 Posts: 8

My daughter and husband taught in the American School in Puerto La Cruz; and I visited four years in a row for from three to seven weeks during those years.

I discovered it's pretty hard to get things done (like fixing things), BUT fuel was eleven cents a gallon when last I was there.

HenryTo · Posted: Fri May 22, 2009 11:29 am Post subject:

Hi arley@itspage,

Welcome (belatedly) to the board. If you don't mind my asking, are you from or did you live in Venezuela? Cool

Henry

arley@itspage · Newbie Joined: 06 May 2009 Posts: 8

Yep. Hugo Chavez is probably just getting warmed up for his exercise in nationalizing everything in sight. At one point a few years ago he made the statement that the country was going the way he decides and anyone who didn't like it could leave. He may get his wish.

The people who know how to administer and get things done are likely to leave Venezuela so what will happen is that the already poor infrastructure will deteriorate seriously. We've seen that happen in the last 20 years in a number of African countries. Too bad. Venezuela is a beautiful country.

HenryTo · Posted: Fri May 22, 2009 8:44 am Post subject:

The latest debacle: Venezuela nationalizes its steel industry (or what remains of it).

Chavez announces nationalization of steel companies AFP - Friday, May 22

CARACAS (AFP) - – President Hugo Chavez has announced the nationalization of several steel companies in the country, to pave way for a large "socialist" state-run enterprise, without giving details on the venture.

"There is nothing to discuss. We've been on this for a long time," he said, ordering the beginning of "a process of nationalization to create an industrial complex."

Chavez named Matesi, Consigua, Ceramicas Carabobo, steel tube maker Tavsa, as well as Orinoco Iron and Venprecar, which belong to the Venezuelan-owned International Briquettes Holding (IBH), which exports iron briquettes.

The announcement is the start of a "transition" so that these companies can become the "solid platform of socialism," he said.

"Venezuelan workers are going to give a lesson to the world on how the working class has been resuscitated to make a revolution!" he told steel workers in the western state of Bolivar.

The workers stood and sung the national anthem.

arley@itspage · Newbie Joined: 06 May 2009 Posts: 8

People in political power seem to make the same mistakes repeatedly. Ever growing government, increasing governmental control and socialist leanings have never worked. Didn't work in the USSR, hasn't worked in China, isn't working in Cuba, didn't work in England, and won't work in Venezuela.

What works is the freedom within limits for people to do what they see fit to improve their lot in life.

"Today is the tomorrow you worried about yesterday" may well be coming true. Along with ballooning national debt, and government taking control of enterprises, we have the State of California on the verge of becoming bankrupt.

Right now I have no interest at all in the stocks or bonds of any company or industry that might attract the interest of the Obama government.

rffrydr · Posted: Thu May 14, 2009 11:43 pm Post subject:

Any signs of the cuban barter economy e.g. doctors?
_________________
Today is the Tomorrow you worried about Yesterday!