Venezuela, wrapup

Wrap-up de las elecciones municipales en Venezuela, en Devil's Excrement.

If I assume the opposition did win in Carabobo and Tachira as seems to be the case, I believe the opposition gains about the right amount at this time. If my assumption is correct, then the opposition will have gained Carabobo, Miranda and Tachira, as well as winning in the race for Metropolitan Mayor. Recall that Caracas has been a bastion of Chavismo since 1998 and now the opposition holds also four of the five municipalities in the city.

I think this is sweet. Sweet, because Chavez wasted his time banning Leopoldo Lopez and Enrique Mendoza as well as the guy from Tachira that would have won that state too. Sweet because Chavez lost ground we gained it and in a country that is mostly urban, we won in the most important urban areas. [...]

But I want Chavez and his cohorts and his National Assembly to be in full power of the Nation when the ceonomic crisis hits. Last wee, Venezuela's oil basket hit around US$ 41 per barrel. havez and Chavismo to pay for the mismanagement of the country: Thyey should preside over it. And to give you an idea, a Venezuelan barrel of oil costs now US$ 29 to produce, as four years of inflation and a fixed exchange rate have simply made local costs prohibitely large. Unless oil prices bounce back and no matter when Chief Economist Chavez decides to devalue, inflation shoudl hit another 50% next year. Chavez and his buddies should pay for it by being in charge, by assuming responsibility over the mess created under the autocrat.

Cualquier semejanza con el campo en la Argentina, no es ninguna coincidencia, es deliberado (y predicho por von Mises).

Go read la whole thinga. Este blog es altamente recomendado para conocer lo que pasa de verdad en Venezuela.