Friday, December 25, 2015
South America socialists run out of money and ...
South America’s socialist leaders are running out of money. And corruption is catching up with several leaders.
Brazil is in a great recession. Fausta’s Blog
Argentina is a mess; defaulted on sovereign debt again last year.
Venezuela despite having among the largest oil reserves in the world, has gone hugely into debt and destroyed its own economy. It memorably could not afford to import toilet paper; and blamed unknown capitalists. And the government calls out the national guard if the long lines at stores get unruly.
But… In Argentina a non-Peronist was recently elected president. In Venezuela the opposition won control of the national assembly. But Chavist President Maduro says the revolution will continue.
Also Guatemala. In September President Ottto Perez Molina resigned, then was jailed on customs corruption charges. NY Times
But no good news yet In Ecuador President Correa is changing the constitution so he can stay in office beyond the legal limit. Groups are rising up against him. Wall Street Journal