printFROM BARACK OBAMA. “Fidel, careful or we are going to end up to [Obama’s] right,” Chavez joked on a live television broadcast.” More via Reuters:
“Venezuela’s President Hugo Chavez said on Tuesday that he and Cuban ally Fidel Castro risk being more conservative than U.S. President Barack Obama as Washington prepares to take control of General Motors Corp.”
“During one of Chavez’s customary lectures on the ‘curse’ of capitalism and the bonanzas of socialism, the Venezuelan leader made reference to GM’s bankruptcy filing, which is expected to give the U.S. government a 60 percent stake in the 100-year-old former symbol of American might. …”
“During a decade in government, Chavez has nationalized most of Venezuela’s key economic sectors, including multibillion dollar oil projects, often via joint ventures with the private sector that give the state a 60 percent controlling stake.”
“Obama has vowed to quickly sell off General Motors once the auto giant is back on its feet, but the government will initially control the company after a $30 billion injection of taxpayer funds.”
Ruth Bader Ginsberg just put a stay on the Chrysler bankruptcy filing. If Scotus hears this case , it could also raise constitutional ? on the TARP bill and GM bankruptcy filing.
The Supremes (in 1952) stopped dictator Givemhell Harry Truman from taking over the steel industry. Perhaps they will have the —– {sexist male organs} to stop the Obama confiscation of the auto industry – not even authorized by Congress!
Chavez’s reign has been a disaster for Venezuela. Sure he’s helped reduce poverty with his handouts but it has come at the expense of their oil infrastructure. Most of Venezuela’s oil comes from more difficult geologic structures than the $1/barrel Persian gulf oil and is more expensive to refine, it thus requires investment that Venezuela lacks the technological capability to provide. Venezuela’s oil production has been declining for the past decade now. I’d be lying if I said i didn’t feel some shudenfruede at Venezuela’s (soon to come) implosion.
Since GM is in bankruptcy and can no longer be the symbol of american power, we obviously need a new symbol. i humbly submit the naming of the chia pet as our new symbol of american power. i hear there’s a chia obama already.
cha-cha-cha-chia.