Not so long ago some nairalanders were trying to suggest we copy the Venezuelan model. I and a few others tried to point out that this wouldn't be sustainable for a country the size of Nigeria. Well little did I know it wouldn't even be sustainable for Venezuela itself. Where is that Venezuelan government official that thought he could talk down to our foreign affairs minister?

http://www.ft.com/cms/s/0/6803a8ba-feed-11de-a677-00144feab49a.html

If you can't access the link use
http://ctunnel.com/index.php/1000110A/9c574c9f6689e2383901059390179e8013ea37d45d54b4e3597524fc4a67c17968a2269a429151f0b8cd1a22732fc83419fd0795c82eb98f097f20b1a674fb6f06ef4b71ad0e82aa547c91c9a408dbd415130

Well said - the continual seizure of private assets and making populist decisions not backed by planning and a sound thought process will backfire.

Very soon things will reach an untenable state and the people will recognise how foolish they've been to allow Chavez take things down this line.

Anyone who has seen Venezuelan inflation rate knows the kwantry is heading for trouble under Chavez. . . . too much public investment is crowding out private investment, causing serious inflation and rise in interest rates. . . . this makes it risky for the private sector to do business cos their returns are nuanced by rising interest rates and inflation.

I hope Chavez will take a more measured approach and develop a quasi-private economic system which incentivises entrepreneurship and private initiative, whilst still keeping public provision of only the most basic services - infrastructure, education and basic health.

@Ibime,

Why should Chavez listen to you or anyone else for that matter.  His ideological leaning is that capitalism is evil. Isn't that th central theme of his last speech at the UN?

I hope Americans are watching and learning!

I hope Americans are watching and learning!

nigerians u mean. . .cause a lot of illiterate nigerians on nairaland do support chavez and his dumb economic policies

The lessons from Chavez's policies are pertinent to the US in respect of the Bush and Obama administrations. If you keep on expanding the Govt in pursuit of populist measures, the chicken will come home to roost at some point.

4 Play:

The lessons from Chavez's policies are pertinent to the US in respect of the Bush and Obama administrations. If you keep on expanding the Govt in pursuit of populist measures, the chicken will come home to roost at some point.

Why did the Republican party not then make this as big an issue during Bush's tenure as they are doing now?

Ibime:

Why did the Republican party not then make this as big an issue during Bush's tenure as they are doing now?

That's a very stupid question. When a Republican is in power, Democrats(including Obama) will knock the president's policies, when a Democrat is in power, the reverse is the case.

Comparatively, Obama's spending plans envisage a deficit that will make Bush's deficits child's play.

4 Play:

Comparatively, Obama's spending plans envisage a deficit that will make Bush's deficits child's play.

Isnt that because Obama is forced to carry the cost of Bush's wars?

Ibime:

Isnt that because Obama is forced to carry the cost of Bush's wars?

It would have been more accurate to blame the cost of the recession. For the wars, Obama supports the Afghan war, he even thinks it should be expanded, so that doesn't count.

The Iraq war cost US taxpayers about +$100bn per annum. The deficit is $1.4 trillion for 2009. You still think the war is the prime cause of the deficit?

4 Play:

It would have been more accurate to blame the cost of the recession.

The wars, the recession, the taxation policies of Bush.

In other words, apart from universal healthcare (which you support), Obama is inculpable for the increasing deficit.

AT LEAST THEY CAN FEED THEIR PEOPLE



ALL OF THEM!!!

^^^
dont tell me u are also a socialist. . .with your naija hating arse

Don't get your arse kicked all up and down these board again.



NOBODY have the PERFECT MODEL on how to run a country.



FOOL!

^^
Perhaps not but u are supporting a failed model. . .USSR failed. . .North korea. .Failed. . .
if u love chavez so much,why not move your black as*s to venezuela
and stop leechin off uncle sam

Perhaps not but u are supporting a failed model. . .USSR failed. . .North korea. .Failed. . .
if u love chavez so much,why not move your black as*s to venezuela
and stop leechin off uncle sam Huh

Uncle Sam owes my Blood line 300 years of reparations.

Uncle Sam LEECHES off ME!

muthaphucka, I pay

income taxes
State Taxes
County Taxes
City taxes
Property Taxes
Investment taxes, etc.


you dumbarse immigrant, the U.S. GOVERNMENT PIMPS ITS CITIZENS.


Take your bumarse back to Nigeria when your student visa runs out, you failing in your classes anyway.

muthaphucka, I pay

income taxes
State Taxes
County Taxes
City taxes
Property Taxes
Investment taxes, etc.


you dumbarse immigrant, the U.S. GOVERNMENT[b] PIMPS ITS CITIZENS.[/b]


Take your bumarse back to Nigeria when your student visa runs out, you failing in your classes anyway.

my bad i thought u were on welfare. .ha ha
dont worry though,i will not be staying a day longer than necessary
u can keep your AmeriKKKa . . . .keep bendin over
and keep gettin fked. . .by uncle sam
am good

my bad i thought u were on welfare. .ha ha
dont worry though,i will not be staying a day longer than necessary
u can keep your AmeriKKKa . . . .keep bendin over
and keep gettin fked. . .by uncle sam
am good

Its still WAYYYYYYYYYYY better than living in a mud hut with a dirt floor and no electricity.


With Dumbarse christians screaming the white man's religion of PASSIVITY.

Its still WAYYYYYYYYYYY better than living in a mud hut with a dirt floor and no electricity.


With Dumbarse christians screaming the white man's religion of PASSIVITY.

is it really?. .the simple fulani cattle rearer seem genuinely happier than a lot of folks i come across in the good ole U.S.A
if u cant take nothing with u when u die,
doesnt it seem a bit odd that ppl are stressed out about the next mortgage,car note,cell phone bill,cable bill,401k contribution,
and so on. . .
if u werent from this world and only looking in. .
surely u would consider the american dumb/ignorant for stressin over such misguided fleeting pleasures
and the african wise for not having a care in the world. .

as for the white man and his religion,i agree that africans should drop that crap
however the likes of creeplow dollar and rick warren seem to be doing just fine brainwashing folks here

But I couldn't live that NOMAD life walking around in the dust all FUNKY and sh.T. looking for next watering hole.

Fugg Dat.

I'm a Inner city Stud that loves to live the high life. Call it what you want. Only the STRONG survive.

Besides, We have "safety nets" here.

It's called a 401K, Pension, Savings, Investments, and unemployment insurance.

and yes Aflak aint no joke.