Saturday, August 18, 2007

the new royals, again...

URL:http://www.rockymountainnews.com/drmn/editorials/article/0,2777,DRMN_23964_5675236,00.html
On the road to ruin in Venezuela

August 17, 2007

Venezuelan strongman Hugo Chavez likes being president so much he's arranging to stay in charge indefinitely. While this may be good for Chavez's boundless ego, it's bad for Venezuela.

Chavez has presented another rewrite of the country's constitution to the tame National Assembly. This latest version would abolish the current two-term limit and extend a presidential term from six to seven years.

It would also greatly diminish possible challenges to his authority by curbing the powers of elected governors and mayors in favor of local "communal councils" that will be dependent on Chavez for funding. And to secure that funding he is proposing to end the autonomy of the Venezuelan Central Bank. That shortsighted move is bound to weaken the country's currency and isolate it from international financial institutions.

Chavez has already scared off needed foreign investment in Venezuela and especially in its aging oil-industry infrastructure. He has nationalized various industries, and the new constitution would give him still greater powers to appropriate private property.

It is all part of his avowed plan to eradicate capitalism in Venezuela in favor of "21st-Century Socialism," which looks very much like 20th-century socialism with its proven record of failure.

Raid nets 42 vendors

POLICE in Gweru (Zimbabwe) have arrested about 42 vegetable vendors suspected of overcharging, mostly for cabbages and potatoes.

The raid over the Heroes and Defence Force holidays came after vendors at Kudzanayi Long Distance Bus Terminus and other markets around the city centre raised their prices.

The price hikes saw a head of cabbage being sold for $150 000 while a pocket of potatoes was selling at around $1,5 million.

The recommended price for a head of cabbage is $60 000 while a pocket of potatoes should not be sold at more than $600 000.

Acting police spokesperson for Midlands Province Assistant Inspector Emmanuel Mahoko said some of the vendors had paid admission of guilt fines while others were expected to appear in court soon for either operating illegally or defying the Government directive to freeze prices. — Midlands Bureau The Herald

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