Thursday, December 07, 2006

Fighting their way back down the food chain

Here’s what Chavez’ Socialist revolution has to show for itself. Barely a dent taken out of poverty, GREATER dependency on foreign banks and governments, MASSIVE economic contraction. Adjusting for their rate of inflation, the economy is half the size it was 8 years ago, effectively making even those he’s “helping” poorer than they were a decade ago.

- In 1998 GDP was $185 billion (£93 billion); in 2006 it is $162 billion
- Inflation: 38 per cent (1998); 16 per cent (2006)
- Proportion in poverty: 44 per cent (1998); 34 per cent (2006)
- External debt: $27 billion (1998); $34 billion (2006)

Man of the people, the poor, etc. He loves the poor so much he wants to everyone else to join their fate. Unlike his young proponents, and even his old ones, most everyone else actually get the joke.

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