Chavez to rule by decree


Chavez to rule by decree
Joseph Smith
American Thinker

The Venezuelan parliament has granted their dear leader Hugo Chavez power to “rule by decree” for the next eighteen months.

Never letting a crisis go to waste, the self-styled “leader of the Bolivarian Revolution” claims he needs such powers to deal with the emergency situation arising from widespread flooding which “drove nearly 140,000 people from their homes,” according to Reuters.

Coincidentally, the rule by decree extends into the Chavez reelection campaign for the December 2012 vote.

If you think Chavez’s absolute power will end by the end of 18 months without Chavez being in a pine box, I have some swamp land in the Mojave desert to sell you.


But he was the “people’s ruler!” Obviously if a leader subverts his own Constitution to gain unlimited terms, he must be doing it for the people. And raising the minimum wage during a period of contracting GDP and 30% inflation means that capitalism must be dead by now, right?

Chavez Says Venezuela’s Economy Is `Already Recovering’ Amid Recession - Bloomberg

Venezuela’s economy contracted 5.8 percent in the first quarter of the year after shrinking 3.3 percent last year because of a plunge in oil export revenue and imports. Venezuela, the largest oil producer in South America and a founding member of OPEC, cut crude production by more than 300,000 barrels a day last year to comply with OPEC quotas.

The International Monetary Fund forecasts that Venezuela will be the only country in the region to remain mired in recession this year. The economy may contract 2.5 percent this year, according to the median estimates of nine banks surveyed by Bloomberg.

Foreign investment has dried up in the South American country amid Chavez’s nationalization drive to boost state control of the economy. Venezuela had a $3 billion direct investment outflow in 2009.