Venezuela's Economy Shrank 9.4% in the Second Quarter

Bloomberg ^ | 09/01/03 | BG

[Pikamax]

Venezuela's Economy Shrank 9.4% in the Second Quarter (Update3) Sept. 1 (Bloomberg) -- Venezuela's economy shrank 9.4 percent during the three months ended in June, led by a decline in construction, as the country's worst recession on record entered a sixth quarter.

[xrp]

Chavezism (communism/socialism) at its finest!

[Libertarianize the GOP]

http://www.freerepublic.com/perl/bump-list

[MayDay72]

...Nothing surprising on course considering that Chavez is using the 'worker's paradise' of Cuba for his model of Venezuela's economy...

[marron]

This is like watching a train wreck.

[SAJ]

Yep. And, unless Chavez ALLOWS the dismissal referendum to proceed (don't bet on it), you should expect domestic energy prices to stay high, too. Particularly gasoline.

Suggest writing heating oil and gasoline (HOX and HUX, respectively) puts, 10-12 cents out of the money.

If the dismissal vote does proceed, write the X CALLS with both hands -- the opposition has already declared firm intentions to maximise oil and refining revenues.