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January 31, 2007
What's all the Caracas?
Well, this one should be fun, if predictable, to watch. Hundreds of [Hugo] Chavez supporters wearing red -- the color of Venezuela's ruling party -- gathered in the plaza, waving signs reading "Socialism is democracy" as lawmakers read out passages of the law giving Chavez special powers for 18 months to transform 11 broadly defined areas, including the economy, energy and defense. Chavez, a former paratroop commander who easily won re-election in December, has said he will use the law to decree nationalizations of Venezuela's largest telecommunications company and the electricity sector, slap new taxes on the rich and impose greater state control over the oil and natural gas industries. The law also allows Chavez to dictate unspecified measures to transform state institutions; reform banking, tax, insurance and financial regulations; decide on security and defense matters such as gun regulations and military organization; and "adapt" legislation to ensure "the equal distribution of wealth" as part of a new "social and economic model." Yeah, "new;" no one's ever tried that before. At least Hillary will be provided with a model upon which to base her Presidential platform. "Viva President Hugo Chavez, long live socialism!" National Assembly President Cilia Flores said as she proclaimed the law approved. "Fatherland, socialism or death!" If history is any guide, she'll at least get the latter two. Posted by Tim Shaughnessy at 03:08 PM in Politics
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The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith
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