Thursday, August 21, 2008

Hugo Chavez and his thugs continue the takeover

of Venezuela. Oil revenues are the only thing preventing a complete meltdown of the economy. Chavez is not a "socialist," that would be an entirely naive characterization. Chavez is a mob boss.

Link
"From this moment a decree of expropriation is in effect and the job stability of workers is guaranteed by the Venezuelan state," Ramirez announced.

"The interest of Venezuelans is placed above business interests."

Cemex made no comment on the move beyond acknowledging to the Mexican Stock Exchange that, "According to a press release issued by Petroleos de Venezuela S.A. (PDVSA), PDVSA will proceed to take operational control of the plants of CEMEX Venezuela."

But Mexico's ambassador in Caracas, Jesus Mario Chacon, encouraged the two sides to keep negotiating, saying Cemex was "quite ready to make its operations transparent to talk about the nationalization."