Posted on 04/03/2007 1:17:34 PM PDT by Graybeard58
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Okay, I'dllike to know how they could possibly lose $3.7 billion last year. Something does not add up.
Chavez sending money to himself?
Actually, they put in a Constitutional provision to protect FOREIGN INVESTMENTS. So long as they surrendered half interest to their Chinese partners.
... home buyers and farmers.
Actually, it doesn't protect their real estate from confiscation in reality. Hence the vast amount of rural unrest stemming from the unabated practice of house and farm confiscations...with little or no compensation... which they are successfully stomping out. So much for their "eagernesss."
Conclusion: They are only "eager" to pull the wool over gullible Western eyes.
He was taking notes during those farm visits, but it wasn’t Cuba or China playing host, it was Zimbabwe.
Collective Property.. Sounds more like Chavez wants to move to the terror famine stage of Stalinization. The Stalinist method of destroying all the institutions in a country to turn it into a totalitarian regime is to make everyone starve to death by purposefully disrupting agricultural production and let the communist party decide who eats and who doesn’t.
http://en.wikipedia.org/wiki/Ukrainian_Holocaust
Giving all that oil away to impoverished Americans in states that elect idiots to Congress.
Damn, let me start knitting.
Simple PDVSA (packed with and run by hand-picked Chavez cronies) handed over most of its income to the gov’t to pay for social programs
Quote” The CIECA analysis shows PDVSA handed over about 70 percent of its gross revenue to the state, including $28.7 billion in taxes, royalties and dividends, and $9.9 billion for other social spending”
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-15534096.htm
So it is profitable, but the state is taking all the profits and then some. Now I can do the math.
Sneak preview of the Hillary era.
The very fact that CNN knows this is contradictory to what they report. They hide this on CNN Money and yet report on their cable news how Chavez is such an insightful guy for selling oil products to the poor in USA for a discounted price. Someday maybe news editors will be taken to jail for treasonous actions.
Latin America pinglist.
It doesn’t matter whether they give away product or confiscate earnings, the result is the same. The oil industry truly lost money that included greedy capitalist profits and essential modernization / maintenance funds. Without both profits and investment, your industry deteriorates producing ever less social welfare funds. In short, the communist / socialist ideals always lead to deterioration of its economy, in large measure because they kill the incentives to work and invest. Socialism can skate by only in small, highly motivated tribal situations but NEVER in a national economy.
They were our technological rivals in narrow sectors relating to space and to weaponry, but they never got close to us when it came to cars and other vehicles, TV, food production, communications, any kind of consumer item; they had a huge debate about how evolution supposedly works (look up Lysenko) that set back their agricultural sectors several decades. Collectivization doomed their system of medical care. As was the case with their politics, they rarely allowed reality to intervene in what the Soviet masters wanted to do.
Watching CNN for financial information is like watching Fox for left-wing bias.
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