Sunday, November 05, 2017

I do not want to want to restructure the debt

This is pretty much what Maduro has in mind when he talks of restructuring the huge Venezuelan debt, huge enough that a default would at the very least send shudders through the markets (though it has been previsible enough that I am sure many have taken their precautions long ago).

I'll be as brief as possible.

Sunday, October 29, 2017

"esos son los que se quedaron"

On the evening of Chavez 2006 reelection I did write a wistful note that somehow made it to the Wall Street Journal.  Then this blog was in the news as the other news were not yet on all of Chavez horrors.  Years went by, the news caught up and thus I could become again an amateur blog, more a stream of consciousness than a true need to inform the world.

Monday, October 23, 2017

The day Ramos Allup drove the stake at the heart of the MUD

The July 16th vote, annulled today
Today's events remind me a little bit of that type of horror movie which starts with some bloody body(ies) and a mysterious shadow drifting away. Heck, sometime the alleged assassin is shown knife in hand. No matter, after this initial screen you read something like "2 weeks/days/hours earlier" over a background of happy cheerful people that you cannot warn about what is to befall on them. Thus you need to wait until the end of the movie to figure out who was the shadow or if the alleged assassin was just set up to look so.

Today Accion Democratica (AD) secretary Henry Ramos Allup (HRA) decided to have his 4 elected governors swear in front of the unconstitutional constitutional assembly (AC) and thus within a single hour he 1) legitimizes the AC 2) voids years of opposition (MUD) efforts 3) wrecks its unity and 4) creates an image overseas that there is no need to worry about Venezuela anymore, either it is a democracy after all, or the opposition is not worthy of rescue so let them deal with their own mess.

How did we come upon that political horror scene?

Back to early July 2017.

Sunday, October 22, 2017

El error de regañar a Almagro

Ha circulado con amplitud por Internet un articulo de Milagros Socorro donde se queja del regaño que el secretario de la OEA, Luis Almagro, le ha dado a la dirigencia de la MUD.  Pues a pesar de que este blog ha expresado su admiración por la acuidad de Milagros Socorro, esta vez no solamente difiero de su opinión, pero me siento obligado a responder.

Brevemente el argumento de Milagros se refiere a que toma de una manera algo personal la declaración de Almagro, como si este hubiese incriminado al elector venezolano por haber ido a votar. No lo entiendo así.

Friday, October 20, 2017

Meanwhile, back at the burning ranch

Thus we are reeling from another election that the regime "won" using any public money it could scarp to gain advantage.  But in this era of low oil prices, and low production, reality is catching up fast. No honeymoon break.

First this news that PDVSA will not be able to use a termina oil, the one in the island of St. Eustatius.  Why? They owe 26 million dollars. When a major oil company cannot pay 26 million dollars of docking fees you know that something is deeply wrong.

Of course, the election has boosted confidence in investors. Not!  There is the quote today:

Note that the DICOM for travel has risen to 11,000, 3 times the "implicit" dollar which the ration between "declared" reserves and money liquidity. That is the printed money. So the regime is recognizing that it is a liar about either the reserves or the liquidity, or both since in theory the regime managed DICOM should be around the implicit dollar.  Then again the regime has all but stopped DICOM...

The one a Friday ago was 29,173, but who cares if the drop in one week was around 30% of its value. No?

So there you are, the real victors of the regime elections: economic collapse and misery. But the regime could not possibly care less, let them it cake and cure themselves with wild herbs infusions. If they can find cooking gas....