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A Look at the Bolivarian Revolution

Everyone has been excited to see Evo Morales get reelected for another mandate, and I don't have much of an opinion about that. But watch out for those of you who would like to point to the reelection as an example of success for the famous, Hugo Chavez-inspired "Bolivarian Revolution."

The name refers to Simon Bolivar, not the modern-day nation, and before anyone gets too excited about the name, it's useful to take a look at what Chavez actually accomplished in his nation before shuffling off this mortal coil.

  1. Venezuela is now forced to import light, crude oil from Algeria despite being the world's 9th largest - but inefficient - oil producer on earth
  2. Inflation is spiralling out of control at over 60% per year
  3. Basic consumer goods, like toilet paper, are close to unavailable, or in serious shortage, despite government intervention
  4. Finally, while Africa is booming, mostly, Venezuelan sovereign bonds, that is official government debt, is three times less valuable than that of Ivory Coast, a nation that defaulted on a loan and had a civil war less than three years ago.

Nice work, Chaver. Your work will be "appreciated" by generations of Venezuelans to come.

Image courtesy of Zhou Yulong over at Behance. What a spectacular artist, and what an awesome photo series.

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