[Marxism] WSJ on Venezuelan economy
sandia1980 at gmail.com
Wed Nov 18 07:36:31 MST 2009
Anyone have thoughts on this?
Chávez's Populism Faces Test as Venezuelan Economy Sinks
By DARCY CROWE and DAVID LUHNOW
Venezuela's economy is suffering a deepening recession at a time when
the rest of the world's economies are picking up steam, according to
data released Tuesday by the country's central bank. That is bad news
for the country's populist leader Hugo Chávez.
In the third quarter, economic output fell 4.5% compared with the
year-earlier period. The decline follows a second-quarter drop of 2.4%
-- the second consecutive quarter of economic decline -- officially
putting Venezuela into recession.
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